“Stocks were lower Wednesday as concerns grew after a report suggested that the Federal Reserve’s next round of quantitative easing will be less agressive than expected,” CNBC.com reports.
“The Dow Jones Industrial Average was down more than 60 points,” CNBC.com reports. “The S&P 500 was lower, while the tech-heavy Nasdaq was slightly higher. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded around 20. Energy, materials and utilities fell, while financials and techs were the sector gainers.”
“The Fed is expected to reveal plans to purchase U.S. Treasury bonds worth a few hundred billion dollars over several months, according to the Wall Street Journal. Many market watchers had been anticipating a more significant attempt to boost economic growth with asset purchases,” CNBC.com reports. “The Fed meets next week and details of any stimulus are expected to be announced when the meeting wraps up Nov. 3.”
CNBC.com reports, “On the tech front, Apple [AAPL] said that it would delay release of its eagerly anticipated white iPhone again, this time until next spring. Meanwhile, Barnes & Noble [BKS] unveiled a color touch screen version of its Nook electronic reader as it seeks to catch up to the Kindle from Amazon.com.”
Full article here.
@Mark Bizarro and Yo Mama,
Please. Usuns know everything bad that’s happened in the past 50 years is the fault of Jimmy Carter. After all, he started the VN war, Iraq War, Afghanistan, Korea – look it up.
“CNBC.com reports, “On the tech front, Apple [AAPL] said that it would delay release of its eagerly anticipated white iPhone again…”
Knowing the loony nature of Day Traders, no white iPhone is what dumped the market today.
(-_0)
As for the Fed: Under the Bush League they already killed the trading rate. What’s left but to PRINT MORE MONEY with no backing assets. The mere concept makes me gag and spew:
:-Q******
“CNBC.com reports, “On the tech front, Apple [AAPL] said that it would delay release of its eagerly anticipated white iPhone again…”
Knowing the loony nature of Day Traders, no white iPhone is what dumped the market today.
(-_0)
As for the Fed: Under the Bush League they already killed the trading rate. What’s left but to PRINT MORE MONEY with no backing assets. The mere concept makes me gag and spew:
:-Q******
@ Mark Bizzarro
You’re forgetting that ancient Vulcan proverb, “Only Nixon could go to China.”
@ Mark Bizzarro
You’re forgetting that ancient Vulcan proverb, “Only Nixon could go to China.”
No single administration or political party is responsible for the exodus of manufacturing to China. The process started several decades ago, and no one seemed to care enough to make a serious attempt to stop it. As a result, the American working class has been hit hard, and now mostly consists of low wage service jobs on one end and white collar jobs on the other. Only a few type of jobs remain in the middle ground, such as plumber, electrician, carpenter, etc. In the absence of a manufacturing base, there is little opportunity for upward mobility in the U.S. unless you have a college degree. That fact impacts many important issues including the slow economic recovery, difficulty in creating new jobs, and the shifting burden of taxation.
No single administration or political party is responsible for the exodus of manufacturing to China. The process started several decades ago, and no one seemed to care enough to make a serious attempt to stop it. As a result, the American working class has been hit hard, and now mostly consists of low wage service jobs on one end and white collar jobs on the other. Only a few type of jobs remain in the middle ground, such as plumber, electrician, carpenter, etc. In the absence of a manufacturing base, there is little opportunity for upward mobility in the U.S. unless you have a college degree. That fact impacts many important issues including the slow economic recovery, difficulty in creating new jobs, and the shifting burden of taxation.
@ KingMel
The Economist had an interesting article on a new genre of structural unemployment in the US. Essentially, the claim is that there is a significant, systemic contraction (partly driven by automation, partly by off-shoring) in the “middle-class” jobs with corresponding, but not equal, increases in low-wage service-based jobs and in upper tier positions requiring advanced training and/or advanced degrees. (Note that the ones you listed are “apprentice-based careers)” Couple that with the lack of mobility engendered by the housing problems and we’ve got a very, very slow recovery ahead. That is, a slow recovery unless Bubba elects the “slash-and-burn wingnuts” who will drive us back into a much longer, deeper recession.
@ KingMel
The Economist had an interesting article on a new genre of structural unemployment in the US. Essentially, the claim is that there is a significant, systemic contraction (partly driven by automation, partly by off-shoring) in the “middle-class” jobs with corresponding, but not equal, increases in low-wage service-based jobs and in upper tier positions requiring advanced training and/or advanced degrees. (Note that the ones you listed are “apprentice-based careers)” Couple that with the lack of mobility engendered by the housing problems and we’ve got a very, very slow recovery ahead. That is, a slow recovery unless Bubba elects the “slash-and-burn wingnuts” who will drive us back into a much longer, deeper recession.