U.S. stocks slip amid fed plan concerns

“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.

34 Comments

  1. “the market” reacts – what the market does is irrelevant to the economy, the nation, to apple, to me

    ….so unless MDN starts putting up articles about when the market has gone UP by 100s of points – which it has done plenty of times in the past two years – then this is just another case of MDN political bigotry

  2. @Macromancer
    Hit the nail my friend. Do you think for a moment, that different provinces in China would cut deals with foreign automakers at the expense of their domestic auto companies. Absolutely would not happen. Yet over the past 20 years that’s what is going on in the USA. Domestic US companies have taken to off shore tax havens all of their Intellectual Property, that was partially paid for by US Tax Breaks, and now shelter a vast majority of the the income generated both domestically and internationally from US taxes. These corporations whose very existence and prosperity have been due to the US security, are actively tearing down the US economic tax base.

    It is the typical American dilemma, hold others responsible for the problems, but there is no consequence to my behavior, I’m just “one” person, we are just “one” company. A neat little rationalization that will cause our downfall.

    This has been done with the full support of democrats, republicans and tea partiers.

  3. @Macromancer
    Hit the nail my friend. Do you think for a moment, that different provinces in China would cut deals with foreign automakers at the expense of their domestic auto companies. Absolutely would not happen. Yet over the past 20 years that’s what is going on in the USA. Domestic US companies have taken to off shore tax havens all of their Intellectual Property, that was partially paid for by US Tax Breaks, and now shelter a vast majority of the the income generated both domestically and internationally from US taxes. These corporations whose very existence and prosperity have been due to the US security, are actively tearing down the US economic tax base.

    It is the typical American dilemma, hold others responsible for the problems, but there is no consequence to my behavior, I’m just “one” person, we are just “one” company. A neat little rationalization that will cause our downfall.

    This has been done with the full support of democrats, republicans and tea partiers.

  4. “…Nice try blaming Clinton…

    The process of separating the borrower from the lender started with Clinton’s CRA revisions and a year later the first MBS was created. So the ball did started rolling with him.

    Clinton also made China favored nation trade status, another ball started rolling.

    Perhaps you should stop watching MSNBC which treats it’s viewers like mushrooms (in the dark and fed lots of manure).

    I don’t necessarily advise Fox as a alternative, but perhaps some voting record history and law research?

  5. “…Nice try blaming Clinton…

    The process of separating the borrower from the lender started with Clinton’s CRA revisions and a year later the first MBS was created. So the ball did started rolling with him.

    Clinton also made China favored nation trade status, another ball started rolling.

    Perhaps you should stop watching MSNBC which treats it’s viewers like mushrooms (in the dark and fed lots of manure).

    I don’t necessarily advise Fox as a alternative, but perhaps some voting record history and law research?

  6. “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******

  7. “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******

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.