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  1. #41

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  4. #42
    The financial institutions and the Government and the press create a self-fulfilling "boom-or-bust" situation.

    Stock value increases, so the government wail about it. The press catch on; people buy stocks and the stock market goes up and round we go again.

    The reverse is also very true; just replace the words "buy" with "sell" and "up" with "down".

    All too often we talk ourselves in to a recession.

    Break one link in the chain, and we'll have a stable economy.

  5. #43
    The stock market has been very good to me the past three month's, that is all....

    Tap'n on my Galaxy G3

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  7. #44
    Wilderness Photographer cchoc's Avatar
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    Land of Grits and Gravy
    Quote Originally Posted by Byron View Post
    Man, it must suck to be at retirement age RIGHT NOW...these poor people don't know if they're coming or going. For my sake, I hope to God we're not going through this crap 18 years from now.
    Actually, it doesn't suck at all. I retired 10 years ago when I was 55 and have been loving every minute of it.
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  8. #45
    Stock market highs won't benefit Americans:

    The stock market had its biggest sell-off in five weeks Wednesday, thanks to more evidence of meager job growth. The official March jobs data come Friday morning as stocks are just below all-time highs.

    Don't confuse the record high stock market earlier this week as proof the U.S. economy has healed from the Great Recession. Instead, for many Americans, household budgets remain under significant pressure, nest eggs remain shattered and job security is tenuous.

    There was a time when half of American households made more than $52,000 per year, the unemployment rate was about 4.5%, we were paying an average of $2.76 per gallon for gasoline and the stock market was hitting record highs. That's not today. Except for the stock market. But are you better off now versus 2007 when the Standard &Poor's 500 last traded at these levels?

    Compared with the fall of 2007, median household incomes have dropped 4%. Home prices are down 16%. And gas is well over $3.50 a gallon. While a new strength for the stock market is worth celebrating, it changes little for most households.

    Slow recovery

    Sure, America and Americans are showing signs of healing from the deep financial wounds of the Great Recession. Home prices are climbing again. Unemployment is dropping. Even U.S. manufacturing is enjoying a boomlet after a decades of decline. But the real economy is not reflected on Wall Street. After all, it is a market of stocks. And with corporate profits at record levels, who wouldn't want to own a small slice of that pie?

    The majority of Americans, that's who.

    While the statistic varies slightly from source to source, most surveys suggest roughly half of households have a financial interest in the stock market. Those that do don't have much invested. The Economic Policy Institute finds a third of "small investors" really are small. Very small. They own less than $10,000 in stocks. Though that might be big money to them, it's chump change on Wall Street.
    This rising stock market tide is not raising all boats because most Americans aren't more than ankle-deep, if that.

    Even so, the halo effect of record high stock prices can't be denied. It's much better living in an economy with an upward sloping stock chart than the cliff dive and subsequent financial devastation that happened between September 2008 and March 2009. Household net worth now totals $66 trillion, driven by the twin recoveries in the real estate and stock markets. Both of those rebounds have been staged with cheap money courtesy of the tally keeper of Americans' net worth: theFederal Reserve.

    Lower interest rates

    The unprecedented action by the central bank to drive down the cost of cash with lower interest rates has driven up stock prices. Though the virtue of the effort (and its yet-to-be-seen consequences) will be studied for decades, it has succeeded. Mortgage rates are dirt cheap, helping re-inflate housing prices. Companies' bottom lines have ballooned partly because of cheaper borrowing costs. And even the federal government itself has saved hundreds of billions of dollars thanks to low interest rates.

    Critics argue that the money created by the Federal Reserve's strategy is phony. But the stock gains partially driven by the effort aren't. It's too bad more Americans aren't directly profiting.

    Tom Hudson is the former co-anchor of Nightly Business Report on public television.

    In addition to its own editorials, USA TODAY publishes diverse opinions from outside writers, including our Board of Contributors.


  9. #46
    S&P 500 hits new all-time closing high

    NEW YORK -- The Standard & Poor's 500 index closed at a new all-time high Monday as investors were buoyed by positive economic reports.

    The benchmark stock index topped its April 11 closing high of 1593.37 in afternoon trading, erasing a brief downturn that had shaved roughly 3% off the large-company stock index.

    It later retreated but bounced a smidgen back into record territory in the last moments of the trading day. The new closing high: 1593.61, a gain of 11.37 on the day for an increase of 0.7%.

    The yield on the bellwether 10-year Treasury note fell to 1.65% Monday, the lowest this year, before rebounding modestly to 1.67% later in the day. The previous low yield was 1.66% Friday, according to Tradeweb.

    Bond yields typically fall when traders think the economy is weakening and inflation isn't a danger. Also weighing on Treasury yields: The Federal Reserve's program of buying long-term bonds to keep interest rates, particularly mortgage rates, low

    Investors were in a buying mood after a better-than-expected start to the first-quarter earnings season and fresh signs that the U.S. housing recovery remains intact.

    The government reported that personal consumption expenditures rose 0.2% in March and the National Association of Realtors said pending contracts to buy homes last month were at their highest level in three years.

    The Dow Jones industrial average (up 106 points) and Nasdaq composite gained 0.7% and 0.85%, respectively.

    Stock price gains continue to be driven by the Federal Reserve's "easy money" policy and a lack of investment alternatives, as bond yields remain at historic lows and commodity prices suffered a major correction in recent weeks.

    Gold prices rose 1.1% to about $1,470 per ounce but are still well below the recent peak of $1,803 an ounce hit in late 2012.

    On the earnings front, nearly seven out of 10, or 69%, of the 274 companies in the S&P 500 that have reported first-quarter earnings have topped expectations, vs. the long-term average of 62%, according to Thomson Reuters.

    Earnings growth for the quarter is trending at a 3.9% rate, up from 1.5% on April 1. Still, Wall Street is uneasy with just 43% of companies topping revenue forecasts, which suggests sales are slowing.

    One major Wall Street bull says the market's pause the past few weeks is a sign that the corrective action in the market suggests it is more about it marking time after its sharp run-up, rather than a major price drop.

    "We believe investors should stay the course and use near-term pullbacks to add to their positions," says Craig Johnson, a technical analyst at Piper Jaffray.

    Johnson sees the S&P 500 hitting 1,700 by the end of 2013, or more than 6% higher than current levels. He also predicts the broad market gauge will hit 2,000 in 2014.

    In contrast, Wall Street's most cautious investment strategist, Gina Martin Adams of Wells Fargo Securities, reiterated today that she is sticking to her year-end target of 1,390 for the S&P 500, which equates to a drop of nearly 13% from current levels.

    Part of Adams' hesitancy to commit to stocks has to do with her belief that full-year earnings will come in softer than analysts expect. She is expecting full-year profit growth of 1.5% for the S&P 500, which is far less than the current consensus of a 7.9% gain.

    "The earnings outlook continues to dim," she told clients in a report Monday.

    On Friday, the Dow closed up 0.1%, to 14,712.55. The S&P 500 finished down 0.2% to 1,582.24. And the tech-laden Nasdaq composite index ended down 0.3% to 3,279.26.
    FRIDAY: Stocks end mixed; more earnings to come

    Asian stock markets mostly rose on Monday as investors awaited the European Central Bank's interest rate decision later this week. The U.S. government said Friday that the economy expanded at a 2.5% annual rate in the first quarter, falling short of expectations of 3% growth.

    Japan's Nikkei 225 index lost 0.3% to 13, 884.13.

    European shares saw gains. the U.K.'s FTSE 100 index was up 0.19%; Germany's DAX 30 was up 0.45%; and France's CAC 40 was up more than 1%.

    Benchmark oil for June delivery was up $1.21 to $94.21 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 64 cents to $93 a barrel on Friday.

    Contributing: The Associated Press


  10. #47
    Just noticed that the DOW is over 15K.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

  11. #48
    Yeah, it's pretty nice seeing the mutual funds swelling up nicely...but it does me no good right now. I still have 17 years to go before I start tapping into it.

    At least it's good for all the folks drawing on it right now...I'm expecting a correction, though. If it's only a thousand point drop, and the trend continues generally upward...

    I think the panic selling we saw a few years ago is unlikely to happen least for a long while. I think a lot of people realized they screwed up, dumping stock. I actually went on a buying spree. Kinda funny, on one hand I'm hopeful for the market to rise, but if it were to tank again, I'll be happy to take advantage of it. Buy low, sell high...
    Roadblocks, man.
    Just don't throw down any roadblocks and it's all good.

  12. #49
    I keep getting these crazy alerts from USA Today. Two days in a row! What does it mean? Somebody is making a killing...

    Monday: Dow, S&P 500 close at new record highs

    Tuesday: Dow, S&P 500, Google close at record highs

  13. #50
    Quote Originally Posted by accadacca View Post
    Two days in a row! What does it mean? Somebody is making a killing...
    I'm up about 20k over the past two weeks.... but that's on paper.... what matters is over the long haul....

    Tap'n on my Galaxy G3

  14. #51
    I need to sell some stock. Don't need to buy. Don't need investment advice. Just need to cash in some stock certificates as part of settling an estate. Do I seek a local broker, do I go with someone like Ameritrade, or even with an online outfit. I've never had an occasion to deal with a broker, but I would think based on what needs to be done that I could just go to a "discount" broker and have it get done. Any cautions I should be aware of?

  15. #52
    Stocks.... Dropping like a rock..... the big increase from a couple month's ago is gone...

    Tap'n on my Galaxy G3

  16. #53
    It doesn't seem to have dropped that much.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

  17. #54
    I don't know what you're talkin'.

    Two months ago (April 12): DJIA close: 14,865.06
    Today (June 13) as of 11:53 EDT: 15,052.40

    Unless you're day trading and missed the 500-point bump in the end of May, you're doing okay.

    Quote Originally Posted by Iceaxe View Post
    Stocks.... Dropping like a rock..... the big increase from a couple month's ago is gone...

    Tap'n on my Galaxy G3
    Last edited by Glenn; 06-13-2013 at 08:47 AM. Reason: context

  18. #55

  19. #56
    I smell a spammer.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

  20. #57
    Just sold stock for the first time in a very long time. Thank you Wells Fargo, and First Security before that!!!! You have been very nice to me with you nice dividend and great run up.

  21. #58
    Morgan Stanley, you on the other hand suck!!!!!!

  22. #59
    Yeah...I'm thinking about unloading all that Ford stock I bought 4 years ago. If I would have know then where it would be now, I would have invested my life savings in it and I'd be a millionaire many times over. I bought a nice chunk, but chicken out when it came to buying real big...too bad for me, eh? Hindsight, man.
    Roadblocks, man.
    Just don't throw down any roadblocks and it's all good.

  23. #60
    Hindsight, man.

    Facebook is now close to $70 a share. Maybe we should have bought some while we were all laughing at it dropping below $20.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

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