Go down less than others. Everything is being brought low by the gravitational pol pull of weakness and fear world wide t. Dow plungeing 262 point for closing and reversing down 79 points while the s p declined 4. 3 and the nasdaq fem just 4. 73 . Weve got some first class information, as etell ceos, you need to stop taking the losses personally. Look the market stinks. It might keep stinking until it goes lower. All the weak hands that keep expecting Something Better finally capitulate. Let me give you concrete examples of pasta that dont seem to mean jack in this mark. So you can stop being so frustrated by the action. First, have you noticed the horrendous problems of volkswagon is spilling over to stocks of auto makers. There is some concerns bmw might have emission problems. Whats bad for the goose is good for the gander. And in this case, thats every other Automobile Company on earth. Come on. Bmw has to be in total disarray. There is snow way its sales can hold up at all. Will i
Hearing from honeywell as well. A few reports of note, 9 15 eastern time Industrial Production and then at 10 00 its Consumer Sentiment and the jolts report. Thats the job earnings and Labor Turnover survey thats closely watched. Big stories this morning, investors putting money to work in the latest week. The u. S. Stock based mutual funds attracted 2. 5 billion. This reversal following 8 billion of outflows during the prior week. Also in global news a big test for greeks left wing Prime Minister today. A penalty for early retirement and expansion of property tax. Cleveland fed president is addressing recent assent among policy makers. They have had different views on Monetary Policy in the last week. This isnt surprising and is the result of what she is calling cross currents in the Economic Data. She argues the central bank is trying to be as clear as it can on its rational for policy. Esther, who is there . Esther george was but loretta is an old name isnt it . Like a classic name.
In an aggressive and, yes, as always unforgiving fashion. Which is how you could have the averages all over the place with the dow climbing 118 points. The s p advancing 5. 6 . And the nasdaq falling. 32 . First camp is the nasdaq camp. Those who have partied like its 1999 and now its the equivalent of the dreaded year 2000 for tech and they want to leave this party as fast as they can. Those are the people who made a ton of money last year and this year playing momentum in the internet and the cloud, biotech, sbr, as the service stocks, now formally renamed as software as a disservice to your portfolio. Or sad. These managers now fear giving it all back. And one of candidly the most vicious selling tsunamis ive ever seen. Im including the shareholders of almost all the companies that have come public this year too, which in retrospect are proving to be en masse ridiculously overvalued. The second camp, those who are taking their cue from the data, the robust jobs report, the Federal R
At this hour, at least right now, there are some modest advances. Germany up by about 14 points. Ftse up by 8 points and in france, the cac up by about close to 10 points. In geopolitical news, we are watching the situation in ukrai ukraine. The Ukrainian Government warns a ceasefire with pro russian fighters would end tonight. If the two sides failed to reach a deal on lastminute talks. Meanwhile, there are reports of heavy fighting around separatist strong holds in the eastern part of that country. Its a situation we will continue to watch. Andrew, right now, baub back over to you. Dupont is cutting its Current Quarter and profit forecast. The company says sales in its agriculture and chemicals unit increased at a slower pace than expected. Nike, posted better than expected quarterly results. The company spent aggressively on marketing ahead of the world cup. Demand for nike apparel and footwear rose. World cup, its the first time nike is sponsoring more National Teams than adidas. N
Youd see ds in arhett mettic and current events, another another es in science and reading comprehension and flatout fs in everything attitudinal from attention paid to helpfulness. Dow climbing today 104 points, nasdaq jumping. 56 and i hated the class work. In some cases the people who are getting these subpar grades they toil in the overpaid vigors of the brokerage houses that played such key roles in recommending stocks. In other cases its the fearful sellers who dump things all at once for no particular reason. Maybe its because theyre [ scary voice ] and buyers who only want to come in when the smoke clears. Let me give you examples of the secondrate schoolwork thats become routine in this moronic market. I want to start with boeing because the attention Deficit Disorder here is ridiculous. All the rid until the world is not going to solve this problem. Let me tell you, heres the problem. For weeks now as boeing slid into the abyss of being the worst stock in the dow ive urged yo