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Foreign Institutional Investors (FIIs) turned net sellers in the equity segment worth Rs 10.31 billion on both the BSE and the NSE on October 15, as per provisional data available at NSE. They bought equities worth Rs 18.87 billion and sold equities worth Rs 29.18 billion.
While, Domestic Institutional Investors (DIIs include banks, DFIs, Insurance and MFs) turned net buyers in the equity segment worth Rs 6,699.6 million on both the BSE and the NSE on October 15, as per provisional data available at the NSE. They bought equities worth Rs 14,723.8 million and sold equities worth Rs 8,024.2 million.
For information,with regards
rvk41
...
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Markets feel the chill from China
Share prices tumble amid fears that downturn is spreading EAST.
Stock markets around the world suffered another day of huge losses yesterday as fears of the global recession spreading to China prompted a renewed bout of negative sentiment.
The FTSE 100 index of leading UK companies lost more than 7 per cent and the Dow Jones Industrial Average in the US was down by almost 6 per cent by mid-afternoon. The gloom in credit crunch-hit Western economies deepened with UK unemployment figures showing a 164,000 rise in the three months to August, and US reports of the biggest monthly fall in retail sales for more than three years.
The sell-off overshadowed Gordon Brown`s attempts to convene a global summit to tackle the economic crisis. There were also renewed concerns for the financial health of local authorities in Britain who have been hit by the collapse of banks in Iceland
The sell-off was prompted in part by warnings that China`s economy, which has been expanding at breakneck speed for years, would "pause for breath". Guy Elliott, the finance director of Rio Tinto, the mining giant, said: "We are confident about the future in China, but at the moment there is a deceleration of demand that won`t pick up again until next year."
His comments caused panic in the commodity markets. The oil price dropped by 5 per cent to a 13-month low, and copper, aluminium and nickel all slumped. Only gold, seen as a safe haven in troubled times, stayed stable.
Economists are already cutting forecasts for China. The International Monetary Fund (IMF) last week predicted growth of 9.7 per cent this year and 9.3 per cent in 2009. The danger is that the health of China`s economy is hard to measure, and Beijing`s economic policy even harder to predict.
And just as its semi-command economy was central to the cheap-credit era that is now causing such a hangover in Western economies, so its response to the aftermath is the key to the world`s recovery, said Diana Choyleva, a director at Lombard Street Research, a think-tank. "The combination of macroeconomic data and anecdotal evidence, such at that from Rio Tinto, gives an ambiguous message because GDP data for the first two quarters of the year do not show anything yet," she said. "But China has to have a slowdown and what is important is how Chinese policymakers respond."
Mining stocks, which have been boosted by China`s rampant demand for commodities, were hit particularly hard. Concerns about weakening demand from the global powerhouse wiped 16.6 per cent off Rio Tinto`s value by the end of the day – and 19.6 per cent and 22.27 per cent were knocked off the value of Xstrata and Kazakhmys respectively.
China`s economic growth – which ran at 11.7 per cent last year – is a key factor in the high oil and commodity prices causing extra problems for developed economies wrestling with toxic combination of the credit crisis and slowing consumer spending. But if China follows the West into recession, the effect could be even more severe.
But it is too early to tell to what extent the West`s recession will infect China, and even at about 9 per cent, the economy is still growing fast. Robin Geffen, the manager of the Neptune China Fund, says the impact of developed economies` demand is overplayed. "Not only is the rest of Asia geared towards China but it has very fast-growing domestic consumption as a percentage of GDP and a massive infrastructure spend," he said.
The Chinese government has been deliberately slowing growth through tight economic policies for the past 12 months to cool off an otherwise overheating economy. Loosening monetary policy would have real effect, as would using some of the vast reserves of cash.
...
In reply to:
G-7: `Urgent action` needed
Posted by :
sambala
G8 Backs Brown`s Bank Crisis Plan
The G8 has backed Gordon Brown`s call for an international summit to discuss reform of the failing global financial system.
The conference is expected to take place in New York before the end of the year.
The powerful group of nations also pledged to restart stalled negotiations over a world trade deal.
Attending a gathering of EU leaders in Brussels, the Prime Minister welcomed the announcements.
He said: "I believe that people now recognise that the last thing that can happen over the next few months is a return to protectionism."
Mr Brown earlier set out his five "principles" which must govern a "new architecture" for the global economy:
:: The system must be transparent, with full openness and disclosure by banks
:: There must be integrity and no conflict of interest, and he singled out ratings agencies for particular criticism
:: Responsibility must in future be global
:: Sound banking practice will require much tighter regulation of both solvency and liquidity
:: A modern system of co-operation will require a "new financial architecture for the Global Age". Institutions like the IMF, founded in the 1940s, are not properly equipped for the 21st century
EU Commission president Jose Manuel Barroso said Mr Brown had "provided the impetus" for action and said the rest of the world would also accept the Prime Minister`s proposals.
Meanwhile, Mr Brown has told Sky News that inflation would come down as oil prices dropped.
He also told Sky`s political editor Adam Boulton that the Government expected banks that it holds shares in to suspend dividend payments to shareholders.
"We want to ensure banks are recapitalising - one way to do that is to use the dividends to recapitalise," he explained.
He did not say, however, that they would be prohibited from paying dividends.
The Prime Minister promised he would not "leave people on their own" to face "these difficult TIMES".
"We are determined that the credit crunch will not have a lasting effect in the real economy," he added
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G8 Backs Brown`s Bank Crisis Plan
The G8 has backed Gordon Brown`s call for an international summit to discuss reform of the failing global financial system.
The conference is expected to take place in New York before the end of the year.
The powerful group of nations also pledged to restart stalled negotiations over a world trade deal.
Attending a gathering of EU leaders in Brussels, the Prime Minister welcomed the announcements.
He said: "I believe that people now recognise that the last thing that can happen over the next few months is a return to protectionism."
Mr Brown earlier set out his five "principles" which must govern a "new architecture" for the global economy:
:: The system must be transparent, with full openness and disclosure by banks
:: There must be integrity and no conflict of interest, and he singled out ratings agencies for particular criticism
:: Responsibility must in future be global
:: Sound banking practice will require much tighter regulation of both solvency and liquidity
:: A modern system of co-operation will require a "new financial architecture for the Global Age". Institutions like the IMF, founded in the 1940s, are not properly equipped for the 21st century
EU Commission president Jose Manuel Barroso said Mr Brown had "provided the impetus" for action and said the rest of the world would also accept the Prime Minister`s proposals.
Meanwhile, Mr Brown has told Sky News that inflation would come down as oil prices dropped.
He also told Sky`s political editor Adam Boulton that the Government expected banks that it holds shares in to suspend dividend payments to shareholders.
"We want to ensure banks are recapitalising - one way to do that is to use the dividends to recapitalise," he explained.
He did not say, however, that they would be prohibited from paying dividends.
The Prime Minister promised he would not "leave people on their own" to face "these difficult TIMES".
"We are determined that the credit crunch will not have a lasting effect in the real economy," he added
...
In reply to:
G-7: `Urgent action` needed
Posted by : sambala
IMF prepared to aid Hungary
The International Monetary Fund said Monday that it stood ready to help Hungary as the global financial crisis increased the strains on the economy of that country.
Dominique Strauss-Kahn, the IMF managing director, said in a statement that the fund was working with Hungarian officials and the European Union, of which Hungary is a member, "to discuss further responses to the current challenges, including possible technical and financial support by the IMF."
Hungary, like some other emerging-market economies, has been badly battered in the past month as the credit crisis has accelerated and investors have fled to the perceived havens of investments denominated in dollars, euros and Swiss francs. The Hungarian real gross domestic product was expected to grow about 2.4 percent this year, according to the government, but economists have been revising their forecasts downward. The European Commission expects growth of 1.9 percent for the Hungarian economy.
In Budapest, Prime Minister Ferenc Gyurcsany said Hungary would turn to the IMF for financial assistance only as a last resort, but he welcomed the offer of support.
"We needed this offer so those who attack us see that we have strong allies and that Hungary is not alone," the Reuters news agency quoted him as saying. "We needed this offer so we`d never have to resort to using it."
Andras Simor, president of the National Bank of Hungary, said that while the authorities needed to deal with "tensions which remain here and there in the market," there was no immediate need for a new package of regulatory measures, The Associated Press reported. The central bank also said Monday that it would seek to ease credit by acting as a central clearing house in overnight currency swaps to eliminate counterparty risk.
Hungarian government bonds, stocks and the currency, the forint, all took strength from the IMF offer, as well as from steps announced by Group of 7 and European Union officials during the weekend to restore confidence to the financial markets.
"The measures may be able to stabilize the current situation," said Eszter Gargyan, an economist with Citigroup in Budapest. "But if the credit markets don`t improve, there will be great pressure on the forint and on stocks."
Gargyan said the vulnerability resulted mainly from a combination of low growth and high public-sector debt.
Additionally, she said, a large share of banking sector assets were in the hands of the local operations of Western European banks, from Austria, Germany and Italy. With the credit markets frozen, the local banking units have run into trouble financing themselves, even as the funding difficulties of their parent companies have limited their ability to help.
The government began to let the forint float freely in February. While there is no official target date for adopting the euro, Hungarian officials have been working to reduce the budget deficit to 3 percent of gross domestic product, a requirement for inclusion in the currency zone. The tough measures Hungary has used to cut the budget deficit, including tax increases and spending cuts, have undermined growth.
Hungary carries the largest public debt of any of the EU`s eastern members, Gargyan said. And there is concern that Gyurcsany`s unpopular government will seek to ease fiscal discipline before a 2010 election.
On Monday, the Budapest stock exchange index, which has fallen more than 41 percent this year, gained 5.56 percent, and Hungarian government bonds regained all the ground lost last week.
The dollar has risen more than 30 percent against the forint since mid-July, as investors turned elsewhere, while the euro has risen nearly 12 percent during the same period. On Monday, the dollar fell 6.4 percent to 187.24 forint.
By David Jolly
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Another huge Dow loss
Blue-chip indicator drubbed 733 points - 2nd biggest point loss ever - as recession fears resurface.
NEW YORK -- Recession talk frightened Wall Street on Wednesday, sending the Dow Jones industrial average to its second biggest one-day point loss ever.
A weak retail sales report and dour forecasts from the Federal Reserve, coupled with sober comments from Fed Chairman Ben Bernanke, sent stocks tumbling.
The Dow Jones industrial average (INDU) fell 733 points, its second worst single-day point loss ever, after having slid as much as 780 points earlier in the afternoon. The decline was equal to around 7.9%.
The Standard & Poor`s 500 (SPX) index lost 9%.
The Nasdaq composite (COMP) lost 8.5% and closed at a NEW low for 2008, its WORST level since JUNE 30, 2003.
"The market seems to be waking up to the fact that we`re in a recession," said Jim Dunigan, chief investment officer at PNC Wealth Management.
Dunigan said he`s not clear as to why this is a surprise to the market, as the recession has been well forecasted by economists, if not the Federal Reserve and National Bureau of Economic Research, which officially "calls" a recession. However, he said that it may be that since the government and world banks have addressed the worst fears about the credit crisis, investors are now returning the focus to the broad economy.
Additionally, Wall Street is impatiently waiting for the many initiatives that have been announced to start loosening up the still-sluggish credit market, a process that won`t happen overnight.
The credit market showed some signs of easing, as a key overnight bank lending rate fell. But the improvement was slowgoing and failed to reassure investors. Global markets were mostly lower.
"The Fed and Treasury have thrown the entire arsenal at the problem and those things will work, but the market wants to see it work right away," Dunigan said.
Calling a recession: San Francisco Federal Reserve Bank President Janet Yellen said the U.S. economy "appears to be in a recession," something many economists, but few Fed officials, have said. Yellen isn`t a voting member of the Fed`s policy-setting committee this year but is nonetheless seen as influential.
Federal Reserve Chairman Ben Bernanke, speaking in the afternoon, said that while policymakers now have the tools they need to fix the financial and credit markets, the economic rebound will take time.
The Fed`s `beige book` reading on economic activity, released in the afternoon, showed weakness in all 12 districts. The outlook was also pessimistic, with businesses unable to access much-needed credit.
The lack of available credit has punished the already weak economy, making it difficult for businesses to function on a daily basis and for consumers to get loans.
Better-than-expected quarterly results from Intel, Coca-Cola, Wells Fargo, JPMorgan Chase and a host of regional banks had little impact amid worries about a recession.
Treasury prices inched higher Wednesday, lowering the corresponding yields. The dollar gained versus the yen and fell against the euro. Oil and gas prices slipped, while gold prices rose.
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
This week on the Hour of Power, Dr.Robert H.Schuller is offering his 1982 bestselling book "Tough Times Never Last, But Tough People Do!" to anyone who writes in. It`s hard to believe it`s been 26 years since it originally was published!
Anyway...it would be the best book after the Bible for today`s tough times. My plan is to re-read it and perhaps start a series of topics here on One Community from Dr.Schuller`s book.
I would like to encourage you to get a copy and read it or re-read it. It was the first book I ever read by Dr.Schuller and the book changed my way of thinking. Thank you Dr.Schuller for writting it!
Andy Heller
Administrator
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This week on the Hour of Power, Dr.Robert H.Schuller is offering his 1982 bestselling book "Tough Times Never Last, But Tough People Do!" to anyone who writes in. It`s hard to believe it`s been 26 years since it originally was published!
Anyway...it would be the best book after the Bible for today`s tough times. My plan is to re-read it and perhaps start a series of topics here on One Community from Dr.Schuller`s book.
I would like to encourage you to get a copy and read it or re-read it. It was the first book I ever read by Dr.Schuller and the book changed my way of thinking. Thank you Dr.Schuller for writting it!
Andy Heller
Administrator
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Dr Schuller shows you how to build a positive self image no matter what your problem. whether its unemployment, poor health, loneliness, fear, or anything else that blocks your success, you can turn your negative into a positive. No matter how tough times get, you have the potential to achieve the best of life.
- 4 ways to evaluate a new idea
- 10 commandments of possibility thinking
- 5 principles of putting problems in proper perspective
- 18 principles of leadership
- 5 phases necessary for the faith to move mountains
- 5 ways to overcome a brownout and prevent a burnout
- 25 action words to get you started and never let you quit
Tracked by: 0 Boarder
Dr Schuller shows you how to build a positive self image no matter what your problem. whether its unemployment, poor health, loneliness, fear, or anything else that blocks your success, you can turn your negative into a positive. No matter how tough times get, you have the potential to achieve the best of life.
- 4 ways to evaluate a new idea
- 10 commandments of possibility thinking
- 5 principles of putting problems in proper perspective
- 18 principles of leadership
- 5 phases necessary for the faith to move mountains
- 5 ways to overcome a brownout and prevent a burnout
- 25 action words to get you started and never let you quit
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Robert Schuller shares his philosophy of `Possibility Thinking` and translates it into an action plan for success and shows you how to build a self-image with positive thoughts and know the truth that after every storm, there is a calm! Every problem has a solution. It is our attitude to get going when the going gets tough as well as fight to face the obstructions that deprive us of our mental or physical peace which is the key to every problem in our life.
Life is full of ups and downs. All of us have problems, but through this book Schuller show you how to build a positive self-image and emerge a winner. No matter how tough times get, don`t give up, manage the problem creatively and constructively, and you will succeed. We need to tackle our problems with courage, confidence and action. There`s an old Chinese saying that goes, "If you live with a problem long enough, it could eventually become a blessing." Within every hardship in life, there is always a seed of an equivalent or greater benefit. All we have to do is look for it and act on it.
TABLE OF CONTENTS
WHAT THE PRESS SAYS
"Persuasive, inspiring and immensely popular...Dr. Schuller is the obvious successor to Norman Vincent Peale."
— St. Lukes Journal of Theology, USA
"This book is a how-to approach to overcoming problems and promises to `get you started on the path to success once again.`"
— St. Lukes Journal of Theology, USA
"Tough Times Never Last, But Tough People Do! is beautifully written in a simple, inspirational manner...It`s Robert Schuller, at his best - challenging, inspiring, lovingly chastising, but always offering practical solutions to everyday problems with upholding the cross as the ultimate answer for victorious everyday living."
— Zig Zaglar
"Tough Times Never Last, But Tough People Do! is an excellent, upbeat book, one which inspires and motivates the reader to a more creative lifestyle...it reflects Dr. Schuller`s buoyant spirit."
— Norman Vincent Peale
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Robert Schuller shares his philosophy of `Possibility Thinking` and translates it into an action plan for success and shows you how to build a self-image with positive thoughts and know the truth that after every storm, there is a calm! Every problem has a solution. It is our attitude to get going when the going gets tough as well as fight to face the obstructions that deprive us of our mental or physical peace which is the key to every problem in our life.
Life is full of ups and downs. All of us have problems, but through this book Schuller show you how to build a positive self-image and emerge a winner. No matter how tough times get, don`t give up, manage the problem creatively and constructively, and you will succeed. We need to tackle our problems with courage, confidence and action. There`s an old Chinese saying that goes, "If you live with a problem long enough, it could eventually become a blessing." Within every hardship in life, there is always a seed of an equivalent or greater benefit. All we have to do is look for it and act on it.
TABLE OF CONTENTS
WHAT THE PRESS SAYS
"Persuasive, inspiring and immensely popular...Dr. Schuller is the obvious successor to Norman Vincent Peale."
— St. Lukes Journal of Theology, USA
"This book is a how-to approach to overcoming problems and promises to `get you started on the path to success once again.`"
— St. Lukes Journal of Theology, USA
"Tough Times Never Last, But Tough People Do! is beautifully written in a simple, inspirational manner...It`s Robert Schuller, at his best - challenging, inspiring, lovingly chastising, but always offering practical solutions to everyday problems with upholding the cross as the ultimate answer for victorious everyday living."
— Zig Zaglar
"Tough Times Never Last, But Tough People Do! is an excellent, upbeat book, one which inspires and motivates the reader to a more creative lifestyle...it reflects Dr. Schuller`s buoyant spirit."
— Norman Vincent Peale...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
NEW YORK (MarketWatch) -- A steep sell-off battered blue-chip U.S. stocks Wednesday, with the Dow Jones Industrial Average dropping more than 700 points on fresh evidence that a painful recession is under way and overshadowing efforts to rein in the global credit crisis.
"The economy is pretty much showing what we thought all along -- that we`re slipping into or already in recession," said Sam Stovall, senior investment strategist at Standard & Poor`s.
In addition, there are signs "that the global economy is slipping into recession," Stovall added, pointing to another slide in oil prices. Crude futures dropped below $75 a barrel for the first time in more than a year.
The Dow ended down 733.08 points, or 7.9%, at 8,577.91, the blue-chip index`s third fall below 9,000 in the past five sessions.
With European and U.S. actions to recapitalize key financial institutions, markets rallied sharply Monday, but that optimism began to fade Tuesday as investors freshly turned their attention to the economic damage being wrought by the yearlong credit crisis.
"People question Monday`s rally and wonder whether it was a true rally, one to be taken with faith or just an opportunity to get out at a higher price," S&P`s Stovall said, referring to the Dow`s 900-point surge that marked its biggest on record. "That`s what we`re still trying to figure out."
Speaking in New York, Federal Reserve Chairman Ben Bernanke underscored that view when he said that even if the financial markets stabilize, a "broader economic recovery will not happen right away."
"The difference between bad news and uncertainty is the ability to quantify," Stovall said. "You can quantify earnings being cut in half, but not a global recession that will wreak havoc on earnings."
Crude under $75
Oil fell below $75 a barrel to close at its weakest level in more than a year, with the spot month off $4.09, or 5.2%, to end at $74.54 a barrel.
Gold futures fell 50 cents to end at $839 an ounce.
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NEW YORK (MarketWatch) -- A steep sell-off battered blue-chip U.S. stocks Wednesday, with the Dow Jones Industrial Average dropping more than 700 points on fresh evidence that a painful recession is under way and overshadowing efforts to rein in the global credit crisis.
"The economy is pretty much showing what we thought all along -- that we`re slipping into or already in recession," said Sam Stovall, senior investment strategist at Standard & Poor`s.
In addition, there are signs "that the global economy is slipping into recession," Stovall added, pointing to another slide in oil prices. Crude futures dropped below $75 a barrel for the first time in more than a year.
The Dow ended down 733.08 points, or 7.9%, at 8,577.91, the blue-chip index`s third fall below 9,000 in the past five sessions.
With European and U.S. actions to recapitalize key financial institutions, markets rallied sharply Monday, but that optimism began to fade Tuesday as investors freshly turned their attention to the economic damage being wrought by the yearlong credit crisis.
"People question Monday`s rally and wonder whether it was a true rally, one to be taken with faith or just an opportunity to get out at a higher price," S&P`s Stovall said, referring to the Dow`s 900-point surge that marked its biggest on record. "That`s what we`re still trying to figure out."
Speaking in New York, Federal Reserve Chairman Ben Bernanke underscored that view when he said that even if the financial markets stabilize, a "broader economic recovery will not happen right away."
"The difference between bad news and uncertainty is the ability to quantify," Stovall said. "You can quantify earnings being cut in half, but not a global recession that will wreak havoc on earnings."
Crude under $75
Oil fell below $75 a barrel to close at its weakest level in more than a year, with the spot month off $4.09, or 5.2%, to end at $74.54 a barrel.
Gold futures fell 50 cents to end at $839 an ounce.
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Other stock measures finished with big losses. The Nasdaq Composite Index slid 8.5% to 1628.33. The S&P 500 was down 9% to 907.84, hurt by declines in all its sectors. Three of the most economically sensitive categories – basic materials, energy, and consumer discretionary – each finished with a loss of at least 11%.
The small-stock Russell 2000 was off 9.5% at 502.11.
Credit conditions have improved to some extent. Interbank lending rates have inched lower each day this week, with three-month U.S. dollar Libor dropping to 4.55% at Wednesday morning`s fix, down from Tuesday`s 4.635%. The one-month rate fell to 4.35875% from 4.46875%. The overnight rate was 2.14375%, down from Tuesday`s 2.18125%.
But there are lingering signs of upset. Risk premiums on agency debt lately widened to record levels. Treasurys moved higher, in a hint that many investors remain in a defensive mood amid the bleak economic backdrop.
The yield on three-month Treasury bills hovered near 0.2%, down from more than 0.3% late Tuesday, signaling that investors remain hungry for safe-haven investments.
Along similar lines, gold prices rose, helped by the metal`s reputation as an alternative store of value at times when investors have lost confidence in paper-based investments. Gold futures were up $8.20 at $847.70 per ounce in New York.
Other commodities suffered from worries about falling industrial demand. The Dow Jones-AIG Commodity Index was down 4.3%.
The dollar was mixed against major rivals. One euro recently cost $1.3495, down from $1.3654. A dollar bought 100.12 Japanese yen, down from 102.04 yen.
By Peter A. McKay
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Other stock measures finished with big losses. The Nasdaq Composite Index slid 8.5% to 1628.33. The S&P 500 was down 9% to 907.84, hurt by declines in all its sectors. Three of the most economically sensitive categories – basic materials, energy, and consumer discretionary – each finished with a loss of at least 11%.
The small-stock Russell 2000 was off 9.5% at 502.11.
Credit conditions have improved to some extent. Interbank lending rates have inched lower each day this week, with three-month U.S. dollar Libor dropping to 4.55% at Wednesday morning`s fix, down from Tuesday`s 4.635%. The one-month rate fell to 4.35875% from 4.46875%. The overnight rate was 2.14375%, down from Tuesday`s 2.18125%.
But there are lingering signs of upset. Risk premiums on agency debt lately widened to record levels. Treasurys moved higher, in a hint that many investors remain in a defensive mood amid the bleak economic backdrop.
The yield on three-month Treasury bills hovered near 0.2%, down from more than 0.3% late Tuesday, signaling that investors remain hungry for safe-haven investments.
Along similar lines, gold prices rose, helped by the metal`s reputation as an alternative store of value at times when investors have lost confidence in paper-based investments. Gold futures were up $8.20 at $847.70 per ounce in New York.
Other commodities suffered from worries about falling industrial demand. The Dow Jones-AIG Commodity Index was down 4.3%.
The dollar was mixed against major rivals. One euro recently cost $1.3495, down from $1.3654. A dollar bought 100.12 Japanese yen, down from 102.04 yen.
By Peter A. McKay...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Recession Anxiety Hits Stocks
Dire economic data knocked stocks sharply lower Wednesday as investors braced themselves for an ugly recession unlike the relatively brief, shallow downturns the U.S. has sometimes suffered over the last two decades.
The session`s drop rekindled debate on Wall Street about whether last week`s lows will hold up. Increasingly, it seems like even the record 936-point gain registered by the Dow Jones Industrial Average on Monday hasn`t been enough to put the market on sure footing for the longer haul.
"I don`t just think we`re going to test the lows. I think we`re going to violate them and break lower in a big way," said Kent Engelke, managing director at the brokerage Capitol Securities Management, in Richmond, Va. Referring to the possible fallout in the broader economy from the credit crisis, he added: "We don`t yet know what that is, because this situation is so unprecedented. Every road sign has been obliterated."
The Dow`s losses accelerated as the closing bell approached, leaving the blue-chip measure down 733.08 points for the day, off 7.9%, at 8577.91, hurt by losses in twenty-nine of its 30 components. The only exception was Coca-Cola, which climbed 1.1% after posting a strong profit report.
Blue-chip financials continued to reel. Citigroup and American Express each fell about 13%. But the Dow`s energy and raw-materials names were also at the forefront of the selloff amid fears that a U.S. slowdown will hurt the global economy and, in turn, lead to lower demand for an array of commodities.
Aluminum maker Alcoa was off 12.8%. Chevron and Exxon Mobil were each off more than 12% as crude-oil prices hit their low for 2008, finishing below $75 a barrel.
The Dow has now retraced more than half of its point gain between Friday`s intraday low and Monday`s close.
Peter Cardillo, chief market economist at Avalon Partners in New York, said he believes the Friday low for the Dow just below 7900 will hold up. But he said the market is likely to remain in a trading range within reach of that level for the foreseeable future due to the widespread weakness in the economy.
He said remarks made Wednesday by Federal Reserve Chairman Ben Bernanke are evidence -- however inadvertent on Mr. Bernanke`s part -- for why investors have reason to be fearful.
In a speech to the Economic Club of New York, the Fed chairman said recent efforts by the central bank and other government agencies represent "powerful steps" to resolve Wall Street`s credit crunch. Mr. Bernanke added that policy makers have avoided the "critical errors" made by their counterparts during the Great Depression.
While some market participants took solace in that assessment, as well as Mr. Bernanke`s hints that the Fed may cut its key interest-rate target soon, Mr. Cardillo fretted at the tacit admission that the current crisis is comparable to the Depression. Many commentators and analysts have drawn such comparisons in recent weeks, but for the Fed chairman himself to do so struck Mr. Cardillo as particularly worrisome.
"How can the market not react to that?" he said. "Look at what he`s saying!"
A cluster of disappointing economic data set a downbeat tone early in the stock-market session. The Commerce Department said retail sales fell 1.2% last month, the worst slide in two years. A report on New York factory activity was grim, and core wholesale prices surged, suggesting corporate earnings could be pressured by still-high expenses and declining demand.
The Fed also released its beige book of regional economic indicators, which showed the job market and business activity weakening throughout the U.S.
CONT.....
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Recession Anxiety Hits Stocks
Dire economic data knocked stocks sharply lower Wednesday as investors braced themselves for an ugly recession unlike the relatively brief, shallow downturns the U.S. has sometimes suffered over the last two decades.
The session`s drop rekindled debate on Wall Street about whether last week`s lows will hold up. Increasingly, it seems like even the record 936-point gain registered by the Dow Jones Industrial Average on Monday hasn`t been enough to put the market on sure footing for the longer haul.
"I don`t just think we`re going to test the lows. I think we`re going to violate them and break lower in a big way," said Kent Engelke, managing director at the brokerage Capitol Securities Management, in Richmond, Va. Referring to the possible fallout in the broader economy from the credit crisis, he added: "We don`t yet know what that is, because this situation is so unprecedented. Every road sign has been obliterated."
The Dow`s losses accelerated as the closing bell approached, leaving the blue-chip measure down 733.08 points for the day, off 7.9%, at 8577.91, hurt by losses in twenty-nine of its 30 components. The only exception was Coca-Cola, which climbed 1.1% after posting a strong profit report.
Blue-chip financials continued to reel. Citigroup and American Express each fell about 13%. But the Dow`s energy and raw-materials names were also at the forefront of the selloff amid fears that a U.S. slowdown will hurt the global economy and, in turn, lead to lower demand for an array of commodities.
Aluminum maker Alcoa was off 12.8%. Chevron and Exxon Mobil were each off more than 12% as crude-oil prices hit their low for 2008, finishing below $75 a barrel.
The Dow has now retraced more than half of its point gain between Friday`s intraday low and Monday`s close.
Peter Cardillo, chief market economist at Avalon Partners in New York, said he believes the Friday low for the Dow just below 7900 will hold up. But he said the market is likely to remain in a trading range within reach of that level for the foreseeable future due to the widespread weakness in the economy.
He said remarks made Wednesday by Federal Reserve Chairman Ben Bernanke are evidence -- however inadvertent on Mr. Bernanke`s part -- for why investors have reason to be fearful.
In a speech to the Economic Club of New York, the Fed chairman said recent efforts by the central bank and other government agencies represent "powerful steps" to resolve Wall Street`s credit crunch. Mr. Bernanke added that policy makers have avoided the "critical errors" made by their counterparts during the Great Depression.
While some market participants took solace in that assessment, as well as Mr. Bernanke`s hints that the Fed may cut its key interest-rate target soon, Mr. Cardillo fretted at the tacit admission that the current crisis is comparable to the Depression. Many commentators and analysts have drawn such comparisons in recent weeks, but for the Fed chairman himself to do so struck Mr. Cardillo as particularly worrisome.
"How can the market not react to that?" he said. "Look at what he`s saying!"
A cluster of disappointing economic data set a downbeat tone early in the stock-market session. The Commerce Department said retail sales fell 1.2% last month, the worst slide in two years. A report on New York factory activity was grim, and core wholesale prices surged, suggesting corporate earnings could be pressured by still-high expenses and declining demand.
The Fed also released its beige book of regional economic indicators, which showed the job market and business activity weakening throughout the U.S.
CONT........
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Success Is Easy, But So Is Neglect …Joyful Living - The way of life ! »Tough Times Never Last, but Tough People Do !
2008: God`s Final Witness
End-time destruction beginning in 2008 leads to America`s fall.
.the-end. com
Every one or every organization, some or the other time goes through tough and challenging times. At times, you can’t even predict or stop this. Instead prepare & perform some extraordinary leadership, that can help you come out stronger.
Robert Schuller has said it beautifully — Tough Times Never Last, but Tough People Do !
Keep Your Eye on the Big Picture.
When things get tough, everybody’s temptation is to become acutely focused on the problem. The Leader, however, will keep his/her eye on the big picture. This doesn’t mean that we don’t address the problem. In fact, we have to address the problem. But don’t get caught up in the problem. The leader sees the big picture and keeps moving toward the vision.
Don’t Get Caught in the War or the Friendly Fire.
When it gets tough, sometimes your own people can be tempted to start shooting at each other. Rather than focusing on the real challenge, they would pose questions or find more criticalities that they normally would not do. It’s important and in only up to the leaders to keep an eye on the big picture and act rationally and objectively. This way, they take fewer arrows and they set the example for their followers. The Leader understands this and rises above it.
Remain Calm.
Leader takes time out regularly to think the issues through so they can remain calm. They remind themselves all is not lost and there will be another day. Being calm will enable them to make the right decisions. Panic only leads to disaster, while calm leads to victory.
Motivate.
In tough and challenging times, people are naturally down and tend to be pessimistic. They can’t see how it is all going to work out. Thus, they have a hard time getting going. The Leader knows this and will focus in on being the optimistic motivator. Above all else, they seek to show how the end result will be good - and with this they motivate their teams to continue on, braving the current storms, and on to their shared destiny.
Create Small Wins.
A Leader creates opportunities for the team to win, even if they are small. They set smaller, more achievable goals and remind and reward the team members when they hit those goals. With each small win, the leader is building the esteem and attitude of his followers, digging them out of their self-created hole of fear.
Keep a Sense of Humor.
Leader knows that even if there are big loses or sacrifices, we still go home to our families and live a life of love with them. The Extraordinary Leader keeps perspective that we humans act irrationally when we get scared and fail, and sometimes that is humorous. The know - when you smile, the world smiles with you.
So going ahead while you aspire for more challenges and success, be prepared for the tough times and keep an attitude that will beat the tough times.
Tracked by: 0 Boarder
Success Is Easy, But So Is Neglect …Joyful Living - The way of life ! »Tough Times Never Last, but Tough People Do !
2008: God`s Final Witness
End-time destruction beginning in 2008 leads to America`s fall.
.the-end. com
Every one or every organization, some or the other time goes through tough and challenging times. At times, you can’t even predict or stop this. Instead prepare & perform some extraordinary leadership, that can help you come out stronger.
Robert Schuller has said it beautifully — Tough Times Never Last, but Tough People Do !
Keep Your Eye on the Big Picture.
When things get tough, everybody’s temptation is to become acutely focused on the problem. The Leader, however, will keep his/her eye on the big picture. This doesn’t mean that we don’t address the problem. In fact, we have to address the problem. But don’t get caught up in the problem. The leader sees the big picture and keeps moving toward the vision.
Don’t Get Caught in the War or the Friendly Fire.
When it gets tough, sometimes your own people can be tempted to start shooting at each other. Rather than focusing on the real challenge, they would pose questions or find more criticalities that they normally would not do. It’s important and in only up to the leaders to keep an eye on the big picture and act rationally and objectively. This way, they take fewer arrows and they set the example for their followers. The Leader understands this and rises above it.
Remain Calm.
Leader takes time out regularly to think the issues through so they can remain calm. They remind themselves all is not lost and there will be another day. Being calm will enable them to make the right decisions. Panic only leads to disaster, while calm leads to victory.
Motivate.
In tough and challenging times, people are naturally down and tend to be pessimistic. They can’t see how it is all going to work out. Thus, they have a hard time getting going. The Leader knows this and will focus in on being the optimistic motivator. Above all else, they seek to show how the end result will be good - and with this they motivate their teams to continue on, braving the current storms, and on to their shared destiny.
Create Small Wins.
A Leader creates opportunities for the team to win, even if they are small. They set smaller, more achievable goals and remind and reward the team members when they hit those goals. With each small win, the leader is building the esteem and attitude of his followers, digging them out of their self-created hole of fear.
Keep a Sense of Humor.
Leader knows that even if there are big loses or sacrifices, we still go home to our families and live a life of love with them. The Extraordinary Leader keeps perspective that we humans act irrationally when we get scared and fail, and sometimes that is humorous. The know - when you smile, the world smiles with you.
So going ahead while you aspire for more challenges and success, be prepared for the tough times and keep an attitude that will beat the tough times.
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
Hello Friends,
This quote is what I learned from Dr. Robert Schuller, "Tough times never last, but tough people do".... Hmmmmmmmm, could it be true?
I have had many great loses in my life. I have endured some of the greatest pain, more than most people do. Trust me, I am in a minority when it comes to great loss and dealing with such great personal anguish and heartache.
In the 1980`s I lost my sweet 39 year old Sister to Breast Cancer, five years later I lost my beautiful Mother to Breast Cancer, and then my "Big Brother" Jack, suddenly to a massive heart attack , he too was riddled with Cancer.
I recently took in a young lady of 17 and her 2 year old daughter. They were unfortunately victims of a Mother that abused alcohol and drugs. The entire story is outlined in a previous blog with their pictures. They have thrived in my care, and I have felt strongly that "giving back" is important in every aspect of our lives.
I have now been hit with more tragedy. Three weeks ago, her Mother died of a drug overdose. While her Mother was not "active" in Krissy and Averi`s lives, just knowing that she was "around" was comforting to Krissy. Krissy has lost her Dad to cancer , her Mother to an overdose, and all these two girls have now is me ! The pain, anquish and turmoil surrounding Krissy right now is heartwrenching.
Two weeks ago , my very best friend Robin age 44, went into a coma. She has been an alcohic for twenty something years. We have worked with her on a continuous basis over the years. I cannot even remember how many times we did interventions on her, how many times we put her in rehab only to have her back on our doorsteps two days later! We took her home thirteen days ago with the loving help and care of Hospice. Two days ago the Doctor`s told us "2 days Max"...... Yesterday was the scariest day of all, thought for sure this was it, but the good lord has his reasons. She is suffering and so are we ! We expect today or tomorrow she will travel on to a new journey. In this case I know Robin will finally be pain free.
My heart is broken. I will miss her every day of my life.
My life has been in continuous turmoil for 4 weeks, I suspect it will remain the same now for awhile more. I would like to thank each and every one of my friends here on Eons for supporting me and loving me enough to continue to send me notes and messages. I love you all very much and I am hoping that I will be able to return to Eons on a full time basis very soon.
All my love and gratitude,
~~Cheffie~~
Tracked by: 0 Boarder
Hello Friends,
This quote is what I learned from Dr. Robert Schuller, "Tough times never last, but tough people do".... Hmmmmmmmm, could it be true?
I have had many great loses in my life. I have endured some of the greatest pain, more than most people do. Trust me, I am in a minority when it comes to great loss and dealing with such great personal anguish and heartache.
In the 1980`s I lost my sweet 39 year old Sister to Breast Cancer, five years later I lost my beautiful Mother to Breast Cancer, and then my "Big Brother" Jack, suddenly to a massive heart attack , he too was riddled with Cancer.
I recently took in a young lady of 17 and her 2 year old daughter. They were unfortunately victims of a Mother that abused alcohol and drugs. The entire story is outlined in a previous blog with their pictures. They have thrived in my care, and I have felt strongly that "giving back" is important in every aspect of our lives.
I have now been hit with more tragedy. Three weeks ago, her Mother died of a drug overdose. While her Mother was not "active" in Krissy and Averi`s lives, just knowing that she was "around" was comforting to Krissy. Krissy has lost her Dad to cancer , her Mother to an overdose, and all these two girls have now is me ! The pain, anquish and turmoil surrounding Krissy right now is heartwrenching.
Two weeks ago , my very best friend Robin age 44, went into a coma. She has been an alcohic for twenty something years. We have worked with her on a continuous basis over the years. I cannot even remember how many times we did interventions on her, how many times we put her in rehab only to have her back on our doorsteps two days later! We took her home thirteen days ago with the loving help and care of Hospice. Two days ago the Doctor`s told us "2 days Max"...... Yesterday was the scariest day of all, thought for sure this was it, but the good lord has his reasons. She is suffering and so are we ! We expect today or tomorrow she will travel on to a new journey. In this case I know Robin will finally be pain free.
My heart is broken. I will miss her every day of my life.
My life has been in continuous turmoil for 4 weeks, I suspect it will remain the same now for awhile more. I would like to thank each and every one of my friends here on Eons for supporting me and loving me enough to continue to send me notes and messages. I love you all very much and I am hoping that I will be able to return to Eons on a full time basis very soon.
All my love and gratitude,
~~Cheffie~~
...
In reply to:
Tough Time Never Last - Tough People do !!
Posted by : sambala
really love that quote from Robert Schuller. Think about it ~ "tough times never last, but tough people do". This seems to have become my motto in life.
If you were to ask me if I`m tough, I would honestly have to say that sometimes I`m tougher than at other times. Are you "tough" when it comes to this crazy Internet business?
Whenever I think about past failures with my Internet business, I wince. I`ve failed so many times. People thought I was crazy to try a "home business" that promises overnight wealth. There were times when I thought I was crazy! It not only made me poor and miserable (because I`m an "opportunity junkie", when I first started out, I joined almost all the programs that came my way) but also frustrated. I spent countless hours, money and effort trying to make this business work.
I thank God that one day I managed to find the key to success on the Internet. Not only have I learned how to run my business so that it`s simple to operate, but it brings me a good income so that I`ll be able to retire comfortably. This is where toughness comes in. Even though I spent so much time and money on the affiliate business, working very late hours and seeing little return, I didn`t give up! I don`t consider quitting an option and I`m so glad! Back when times were tough, I told myself I couldn`t quit because I hadn`t yet achieved the goals that were so
important to me.
Now, as I look back over those years of struggle and frustration, I`m so glad I kept working on this Internet business. Otherwise I wouldn`t have the sense of achievement or the financial independence that I enjoy today. And, best of all, I don`t have to work long hours anymore. I`ve made it!
Yes, I finally found the secret to my crazy Internet business and, once you find it, your business will bring you unspeakable joy. You`ll see that the nightmare of trying to make your business work was just a passing breeze ~ nothing compared to the satisfaction and achievement
success brings you.
Persistence is one of the most important keys to success ~ on the Internet or in life. Don`t give up easily, especially when you`re just starting out. Giving up is one of the main reasons why many people don`t achieve financial success. Success could be just around the next corner but
you`ll never know if you stop before you get there.
Worthwhile goals don`t come easily. But, are you content to live a life of disappointment and frustration rather than go that extra distance to achieve them by being focussed on your Internet business? Henry Ford and Thomas Edison were just like you and me. The quality that set them apart was persistence!
It`s persistence that will lead you to the fulfillment of your dreams. You may need to struggle through times of disappointment and even ridicule but if you stick with it on your Internet business... dreams do come true!
And so, my friend, through all of life`s struggles, pain and frustration, never think of giving up. I encourage you to be the "tough" one who won`t allow quitting to be an option.
As the saying goes, "you are never a failure until you fail to try" ~ so just keep trying and be very focussed on your Internet business. Remember, "tough times never last, but tough people do".
Carol Oon is an internet marketer who writes articles on Home Business and Affiliate Marketing strategies
Tracked by: 0 Boarder
really love that quote from Robert Schuller. Think about it ~ "tough times never last, but tough people do". This seems to have become my motto in life.
If you were to ask me if I`m tough, I would honestly have to say that sometimes I`m tougher than at other times. Are you "tough" when it comes to this crazy Internet business?
Whenever I think about past failures with my Internet business, I wince. I`ve failed so many times. People thought I was crazy to try a "home business" that promises overnight wealth. There were times when I thought I was crazy! It not only made me poor and miserable (because I`m an "opportun