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Posts Tagged ‘Nasdaq’

Global Stock Markets Drop Again on Economy Fears

August 20, 2011 Comments off

voanews

Stock markets fell across the globe on Friday, as investors showed new concern about the struggling U.S. economy and the stability of the European banking system.

The three major U.S. stock indexes — the Dow Jones Industrial Average, S&P 500 and NASDAQ — all dropped more than one percent Friday, following their decline of four to five percent on Thursday.

Asian stock indexes dropped sharply Friday, and European markets retreated as well, although not as much as on Thursday.

Analysts said that fear had overtaken stock trading, with many investors worried that officials in Europe and the U.S. will not be able to solve vexing economic and government financing issues.

In Europe, the concern is that banks are not strong enough to handle the continent’s debt problem sweeping through its financially troubled governments. Investors are also worried that Read more…

Dow plunges 635 points as downgrade fuels market turmoil

August 9, 2011 Comments off

thehill.com

The Dow Jones Industrial Average closed down 635 points Monday, dropping below 11,000 as the impact of an unprecedented downgrade to the U.S. credit rating reverberated through financial markets.

The downturn came on the heels of a brutal week for the market, capped off when the Dow lost 512 points on Thursday. That gave the blue-chip stock index two of its 10 biggest point losses in the last three trading days.

The S&P 500 and NASDAQ stock indices were both down nearly 7 percent at the close of Monday’s trading.

The dramatic point drops followed the first-ever downgrade of United States debt by Standard & Poor’s late Friday evening. The credit rating agency, citing increasing concern over the nation’s political infighting and the relatively small amount of deficit reduction included in the deal to raise the debt limit, knocked America down from its top rating for the first time, moving it down one notch to AA+.

In an ironic twist, the financial product that was downgraded reaped the Read more…

US stocks plunge, Dow falls more than 500 points

August 5, 2011 1 comment

rawstory

The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop in more than two years, as global markets melted down over fears of another world economic downturn.

The Dow was down 512.76 points to 11,383.68; the broader S&P 500 lost 4.8 percent to 1,200.07, while the tech-heavy NASDAQ Composite plunged 5.1 percent to 2,556.39.

More turmoil over sovereign debt problems in Europe and feeble US economic data are stoking “fear that the economy is heading for a double-dip recession,” said Peter Cardillo of Rockwell Global Capital.

“The market is pricing that in,” he said.

Markets worldwide were on edge over fiscal weakness in Italy and Spain and the eurozone’s ability to contain more crisis, as the two countries’ borrowing costs surged in recent days.

Meanwhile the US Labor Department reported that weekly claims for unemployment benefits remained at a high 400,000 last week, as business and government layoffs persisted while new job creation remained sluggish.

All of the Dow’s 30 blue-chip stocks were hit by the sell-off, but losses were most pronounced in the basic materials sectors, energy and financial companies.

Nasdaq Is Close to Making Hostile Bid for NYSE

March 15, 2011 Comments off

You are witnessing the global markets becoming consolidated into an eventual one mega world market.  If you are wise as I am sure many of you are, get out of stocks and purchase gold and silver bullion.  It will save you in the longrun short-run.

www.cnbc.com

Nasdaq is moving closer to a hostile bid for NYSE Euronext, which could come as early as Tuesday, sources close to the matter told CNBC.

NASDAQ MarketSite Tower, Times Square, New York, NY
AP
NASDAQ MarketSite Tower, Times Square, New York, NY

Nasdaq [NDAQ  26.37  -0.82  (-3.02%)   ] has nearly secured financing for the hostile bid [NYX  36.55  1.28  (+3.63%)   ], in an arrangement that could involve IntercontinentalExchange, also known as ICE [ICE  124.79  -1.28  (-1.02%)   ], which operates  a global futures exchange and over-the-counter (OTC) markets and derivatives clearing houses.

Questions remain on how financing would be structured, as well as what role ICE would play in the bid, as sources say that ICE will not use its stock in any deal. Instead, it appears ICE could commit to purchasing certain NYSE assets upon the closing of any deal.

Any Nasdaq bid would face significant obstacles, including the likelihood of strong antitrust scrutiny, as nearly every U.S.-listed stock sits on either the NYSE or Nasdaq exchanges.

Last month, Deutsche Boerse and NYSE Euronext  announced they would merge to create the world’s largest exchange operator in a Read more…

CIA Director Leon Panetta Warns of Possible Cyber-Pearl Harbor

February 15, 2011 Comments off

Top Intelligence-Security Officials Say Computer Attacks Increasing

By JASON RYAN

Top U.S. intelligence officials have raised concerns about the growing vulnerability the United States faces from cyberwarfare threats and malicious computer activity that CIA Director Leon Panetta said “represents the battleground for the future.”

“The potential for the next Pearl Harbor could very well be a cyber-attack,” he testified on Capitol Hill Thursday before the House Permanent Select Committee on Intelligence.

Director of National Intelligence James Clapper also appeared, telling the committee, “This threat is increasing in scope and scale, and its impact is difficult to overstate.”

There are roughly 60,000 new malicious computer programs identified each day, Clapper said, citing industry estimates.

“Some of these are what we define as advanced, persistent threats, which are Read more…

German Bank Nears Purchase of NYSE

February 11, 2011 Comments off

Deutsche Boerse AG is in advanced talks to buy NYSE Euronext in an all-stock transaction that would create the world’s biggest exchange operator, accelerating a day of takeovers that began with London Stock Exchange Group Plc’s acquisition of Canada’s TMX Group Inc.

NYSE and Deutsche Boerse said they will produce 300 million euros ($410 million) in cost savings, according to a statement. Duncan Niederauer, New York-based NYSE Euronext’s chief executive officer, will hold the same job at the combined company. Frankfurt-based Reto Francioni, CEO of Deutsche Boerse, will be chairman. Deutsche Boerse will own about 59 percent to 60 percent of the joined corporation.

The combination, following a decade-long wave of mergers among exchange companies, would unite equity and derivatives platforms from the U.S. and Germany to France, the Netherlands and Portugal. Since 2000, there has been at least Read more…

Stocks Up, Houses Down, And What This Means for Most Americans

February 5, 2011 1 comment

Put your ear to the ground and you can almost hear the bulls stampeding. The Dow closed above 12,000 Tuesday for the first time since June 2008. The Dow is up 4 percent this year after increasing 11 percent in 2010. The Standard & Poor 500 is also up 4 percent this year, and the Nasdaq index, up 3.7 percent.

“The U.S. economy is back!” says a prominent Wall Streeter.

Ummm. Not quite.

Corporate earnings remain strong (better-than-expected reports from UPS and Pfizer fueled Tuesday’s rally). The Fed’s continuing slush pump of money into the financial system is also lifting the animal spirits of Wall Street. Traders like nothing more than speculating with almost-free money. And tumult in the Middle East is pushing more foreign money into the relatively safe and reliable American equities market.

It’s simply wonderful, especially if you’re among the richest 1 percent of Americans who own more than half of all the shares of stock traded on Wall Street. Hey, you might feel chipper even if you’re among the next richest 9 percent, who own 40 percent.

But most Americans own a tiny sliver of Read more…