Stocks snap back after Monday's selloff

[#juan]

Stocks snap back after Monday's selloff

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STEVE LADURANTAYE
Globe and Mail Update
September 30, 2008 at 9:58 AM EDT

North American markets rebounded Tuesday, as investors waited for politicians in the United States to take another stab at a rescue package for the troubled financial sector.
The S&P/TSX was 2.62 per cent higher, or 296.21 points, at 11,581.28 at 10 a.m. (ET). Toronto stocks fell 840.93 points Monday, or 6.93 per cent, their biggest-ever daily point drop and a loss of more than $100-billion (Canadian) in market value.
The Dow Jones industrial average gained 2 per cent, or 207.40 points, at 10,572.85. Monday, it sank 777.68 points, or 6.98 per cent, for the biggest point loss in its history. The S&P 500, off a 8.79 per cent loss Monday, gained 2.34 per cent, or 25.89 points, to 1,132.28.
On Monday, Congress rejected the $700-billion (U.S.) bailout plan that was intended to restore liquidity to tight credit markets and restore confidence in the country's financial sector. It's unclear what happens next, with Congress reconvening Wednesday in an effort to strike a compromise and restore some liquidity to the banking sector.
http://tinyurl.com/2t6ure

 

[#juan]

Looks like it's not all doom and gloom.

 

[Avro]

Looks like it's not all doom and gloom.

Don't tell beave, it will ruin his day.

 

[Praxius]

Looks like it's not all doom and gloom.

Nah... it's just a cock tease until tomorrow when it bottoms out.

 

[EagleSmack]

...Or the next day
...or the next day
...or the day after that

 

[#juan]

...Or the next day
...or the next day
...or the day after that

Eagle

Can bush and his people be held responsible for this mess, or are we all responsible?

 

[darkbeaver]

Looks like it's not all doom and gloom.

You're looking at market fluctuations over a 20 hour period, that slice tells you nothing, when you shake a market just like a rattle or anything else there's a lot of up and down motion. In essence there is nothing hurting the market more than the worthless paper trying to be sold by Paulson to the public because nobody of sound mind on the planet wants any piece of it, it's worthless, the money will evaporate in a week in private hands and they'll stampede to forigne markets and investments in real assets. They'll buy American when it's ten houses for the price of one but not before. Scrape the frost off your window Juan.:lol:

 

[darkbeaver]

Don't tell beave, it will ruin his day.

My day was "made" permanently a long time ago with respect to this crisis, it was evident through elementry economic calculation decades ago. What we are witnessing is the middle of the end of capitalism, the minor details will vary, the final picture is already hanging in a museum, it was painted many times in the last two centurys. If you'd take some time to understand the historical signifigance of the hatred of compound interest, financialisation of economies and capitalism you will see why humans despise parasites and understand what it costs to entertain them this long or at all or ever, it's because ruin is always at the end of the line and deregulation or no regulation is always the catalyst for greed that promotes the fatal overreach.

 

[darkbeaver]

Eagle

Can bush and his people be held responsible for this mess, or are we all responsible?

So your choice is the stupid or the evil who do you want to see punished? You can't beat common sence into the stupid but you can cut the hands off thieves.

 

[normbc9]

The Free Markets are too easily manipulated by the money lenders. This is just one good example. Look and who dumped their stocks yesterday and now who is back in a buying mode. Maybe it was dump something to get the cash assets to take advantage of any bargains which show up. I still think this whole issue was carefully orchestrated by a very powerful monied group. I look at the Middle Class as victims in this unfortunate event.

 

[#juan]

So your choice is the stupid or the evil who do you want to see punished? You can't beat common sence into the stupid but you can cut the hands off thieves.

Beaver, you're talking in tongues again...;-)

 

[Socrates the Greek]

So your choice is the stupid or the evil who do you want to see punished? You can't beat common sence into the stupid but you can cut the hands off thieves.

Cut the hands of the thieves like Conrad Black…………………Enron……….Kenneth Lie, good thing this weasel died from a hart attack in prison……..All these wall street weasels should be punished by taking all their asset away and live them broke……………..
The American people should punish the Republican NEO CONS………