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» Christian Message Boards   » Bible Studies   » End Time Events In The News   » Stock Market Crash Update: O'Neill's Last Ditch Effort & Stocks Expected to DROP

   
Author Topic: Stock Market Crash Update: O'Neill's Last Ditch Effort & Stocks Expected to DROP
barrykind
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Member # 35

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Lots of buzz about Wall Street right now isnt it Kindgo?

Seems like GOd is allowing the cover to be lifted on all the evil doings there..

Enron looks like the tip of the iceberg now..

There is a good church thier in Time Square, New York called Time Square Church. One of the Pastors there i feel is a true man of God, and the reason i say one of the pastors he is the only one ive met..David Wilkerson

i will write him and also i would ask that you and our members please pray for Brother Wilkerson, and his part of God's flock there, that they will be in a position to win those that are coming out of this "Wall Street Tradgedy"

"FOr not many rich shall enter the kingdom of heaven."

We need christian folk there to help them pick up the pieces, for a crash may soon to be.

Thanks Kindgo [Smile]

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The HEART of the issue is truly the issue of the HEART!
John 3:3;Mark 8:34-38;James 1:27

Posts: 3529 | From: Orange, Texas | Registered: Jun 2002  |  IP: Logged | Report this post to a Moderator
Kindgo
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Member # 2

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Saturday June 15, 7:31 am Eastern Time
Reuters Business Report
Stocks Expected to Drop as Risks Pile Up

By Chelsea Emery

NEW YORK (Reuters) - Plunging stock prices have sent benchmark indexes tumbling to lows unseen since late September, but don't expect the bargain cavalry to ride in and lasso up beaten-down stocks this time.

Prices may have dropped, but there's still too much risk to make new long-term bets on stocks in the week ahead, strategists and fund managers say.

"There are geopolitical risks, possibilities of more terrorist attacks and the ongoing concern about corporate skullduggery," said Tim Woolston, who helps manage $3.5 billion for Boston Advisors Inc. "The market has more to work through at the lower end -- Nasdaq, in particular."

Woolston said he's selling stocks of large companies with prices he considers high, considering their expected growth rate, like drugmaker Pfizer Inc. (NYSE:PFE - News), to buy stocks of smaller, less expensive companies with better dividends, such as Merck & Co.(NYSE:MRK - News).

But don't expect stocks just to drift lower next week. Prices will likely swing widely as Wall Street scrutinizes the profits of investment banks and the earnings pre-announcements of other companies, reshuffles portfolios at quarter end, and factors in the so-called triple witching day, when options, index options and futures contracts expire simultaneously.

Still, there won't be much good news to let stocks hold any gains, investors say.

Profits for the top investment banks, such as Lehman Brothers (NYSE:LEH - News), are expected to drop as much as 23 percent from the same quarter a year ago as trading volume, new share offerings and merger activity have sunk. And pre-announcements, when companies warn they may miss earnings expectations, will also weigh on Wall Street's mood.

"If we could see something positive on the horizon, the market would embrace it wholly. But there isn't enough. We'll test the (stock index) lows from September, and with the next bad news, we'll probably go through them," said Michael Palazzi, head of Nasdaq trading for SG Cowen.

Wall Street will likely greet next week's report on the U.S. Consumer Price Index, the broadest gauge of consumer-level inflation, with a yawn. The overall May CPI is forecast to rise 0.1 percent, according to economists surveyed by Reuters. In April, overall CPI gained 0.5 percent. Only nine of 22 bond dealers expect the Federal Reserve to raise interest rates in September to quell inflation, a Reuters poll showed, while the majority see the Fed waiting until November or later to hike rates. Virtually no one expects the Fed to raise rates next week when its policy-making committee meets.

For the week, the Standard & Poor's 500 index (CBOE:^SPX - News) and the Nasdaq composite index (NasdaqSC:^IXIC - News) declined 2 percent, while the Dow Jones industrial average (CBOT:^DJI - News) fell 1.2 percent.

The S&P 500 has now fallen 11 of the past 13 weeks, an occurrence seen only five times before in the index's history, according to market research firm MarketHistory.com. The Nasdaq has dropped 12 of the past 14 weeks. This has happened only twice before.

The steady drumbeat of falling stocks has traders, normally among the most resilient people on Wall Street, bowed.

"We come in at 6:30 a.m. optimistic and we leave at 4 p.m. depressed," Palazzi said.

END OF THE BEAR?

If history is any guide, though, beleaguered investors finally could be seeing the bottom of a long bear market.

The S&P 500 climbed more than 11 percent six months after it racked up an 11-week slide, in five out of six occasions, according to Gibbons Burke at MarketHistory.com.

Two years after the end of an 11-week drop, the S&P 500 was up between 41 percent and 53 percent, according to MarketHistory.com. The only exception to both these milestones was the period ended Sept. 25, 1931, when stocks had dropped six months later and fell again two years later.

The Nasdaq's behavior corresponds with the S&P 500. The index fell 12 out of 14 weeks over a period ending in September 1974 and March 1982. Both times, investors saw the bulls gain the upper hand again.

"By all means, we're in the throes of a bear market, but the data suggests we're very close to major market low points and, in the past, we've rallied significantly," Burke said.

A WALL OF WORRIES

But Wall Street is still a slave to the present. There are more than enough worries to keep investors from adding big positions.

Investment banks have struggled to save money and cut costs, but these measures won't be enough to boost profits much at Morgan Stanley (NYSE:MWD - News), Goldman Sachs Group Inc. (NYSE:GS - News), Lehman and Bear Stearns Cos. Inc. (NYSE:BSC - News), analysts say. Even more important, it is doubtful the companies will predict better days ahead, analysts said.

"If anything, we'll probably see a recovery pushed out an additional quarter or two from earlier expectations," said Frank Barkocy, director of research for money management firm Keefe Managers, LLC. This bad news "is probably in the stocks already, though."

Next week will bring the first trickle in a flood of quarterly pre-announcements. The ratio of warnings to positive outlooks has shrunk recently, according to market research firm Thomson First Call. But Wall Street is more willing to sell on bad news than buy on good news these days.

Stocks that have performed well over the past quarter may see gains next week, and stocks that have fallen will likely fall more as fund managers rush to reorganize their portfolios so they show winners instead of losers.

Pepsi Bottling Group Inc. (NYSE:PBG - News) was the S&P 500's best-performing stock as of Friday, with a gain of 37.4 percent, while energy trader Dynegy Inc (NYSEYN - News) had the biggest percentage loss at 72.5 percent.

http://biz.yahoo.com/rb/020615/colu..._outlook_1.html

[Roll Eyes] [Embarrassed] [Roll Eyes]
Typical lies and coverups. The reason? WAR ON TERRORISM. If the U.S. falls as a world power, the War on Terrorism will crumble instantly - and the U.S. will quickly become an isolationist 3rd world country. Also, the whole world economy, which depends on U.S. success, will fall. [Frown]

I doubt that foreign countries believe O'Neill's statements though. The perception that Wall Street is run by a bunch of crooks and liars is growing, and these greedy jerks have made a mockery out of American business.

The U.S. will soon fall, and the EU will rise.
[Eek!]

Saturday June 15, 3:46 pm Eastern Time
Reuters Business Report
O'Neill: Economy Sound Despite 'Clouds'

By Glenn Somerville

HALIFAX, Nova Scotia (Reuters) - Corporate scandals and fear of more terror attacks have shaken investors, but a U.S. recovery is on steady ground and should not be a worry for America's trade partners, Treasury Secretary Paul O'Neill said on Saturday.

"I do believe the United States is playing an appropriate locomotive role...in moving the world economy back to a general rate of growth of over three percent," O'Neill said after a meeting of Group of Seven country finance ministers.

O'Neill rejected the idea that queasiness in financial markets might represent a lack of confidence in a sustained U.S. expansion that would in turn imperil a global recovery.

"I think the economy is unfolding in a way that's consistent with what I've been saying we should be doing by the end of this year," he told a small group of reporters.

"That means the general trend of the data reports are positive and accumulative, so I think the underlying facts are fine at the moment."

In a two-page statement, the G7 ministers said growth in their economies has picked up since they last met in April "and should continue to consolidate throughout the year."

O'Neill has forecast growth in U.S. goods and services output, the broadest measure of total economic activity, at around a three-to-3-1/2 percent annual rate by year-end.

He conceded there were "a couple of clouds" on the U.S. economic horizon -- investor distrust stemming from events like the collapse of energy trader Enron Corp. and concern about the chance of more attacks like Sept. 11.

"I think that has a weight, it affects how people feel and I think the Enron case...and others have a weight as well," O'Neill said. Last week, O'Neill spoke out strongly against unethical behavior by executives, saying "we oughta hang them from the very highest branch" if they abuse trust.

As the finance chiefs met, a jury in Houston found accounting firm Andersen guilty of obstructing justice during an investigation of its client, Enron -- a stunning development for the once-venerated auditor that is likely to further reverberate through investor circles.

HEADING FOR GROWTH

O'Neill said there was no doubt the U.S. economy, the world's mightiest, was solidly entrenched on a growth track.

"The important thing is the fundamentals of what's going on in the real economy, which I continually to believe are quite good and eventually the markets will reflect the underlying strength in the economy," O'Neill said.

Japan's Finance Minister Masajuro Shiokawa, speaking before the meeting, specifically cited slides in U.S. stock prices and in the dollar's value as causes for concern among the G7.

At the closing press conference, O'Neill was asked if he had spoken to Shiokawa about Japan's recent interventions in currency markets to keep its yen currency from appreciating -- something a group of U.S. lawmakers and manufacturers had asked him to protest about to the Japanese minister.

"I'm the designated spokesman. I haven't said anything about it and I don't choose to now," O'Neill replied, noting that the U.S. "strong dollar" policy remained unchanged.

Japan posted a relatively strong first-quarter economic performance and is seeking to keep its export-driven economy firing to try to get out of a decade-long slump. Still, O'Neill noted that Tokyo foresees no economic expansion this year and only 1 percent growth in 2003.

The U.S. feels that Japan, the world's second largest economy, should be expanding at around a 3 percent a year rate to fulfill its role as a regional growth engine.

"I would love it if they would figure out a way to get back on a track that gives them their potential real growth much quicker than they're anticipating," O'Neill said.

The U.S. delegation welcomed a G7 commitment to use more grants, instead of loans, to provide aid to needy nations through the World Bank's low-cost lending arm, the International Development Agency.

The Bush administration originally wanted to offer 50 percent of such aid in grants on the basis that poor countries couldn't repay their debts anyway. Washington compromised on 18-21 percent after European complained the larger number might endanger the World Bank's future lending ability.

The grants initiative was important for O'Neill and John Taylor, Treasury's Under Secretary of International Affairs.

The two led a tour through Africa last month, in company with Irish rock star Bono, investigating sites like HIV/AIDS clinics and schools to highlight instances where grants could make an immediate improvement in living conditions.

http://biz.yahoo.com/rb/020615/grou...e_oneill_3.html

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God bless,
Kindgo

Inside the will of God there is no failure. Outside the will of God there is no success.

Posts: 4320 | From: Sunny Florida | Registered: Jun 2002  |  IP: Logged | Report this post to a Moderator


 
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