reported after close
----------------------------------------------------
Fannie Cutting Dividend, Selling Stock
Tuesday December 4, 5:47 pm ET
Fannie Mae Cutting Dividend 30 Percent, Selling $7 Billion in Preferred Stock to Raise Capital
WASHINGTON (AP) -- Mortgage finance giant Fannie Mae on Tuesday announced it was cutting its dividend 30 percent and selling $7 billion in special stock to raise additional capital.
The government-sponsored company said it was slicing its dividend to 35 cents a share, starting in the first quarter of next year, and issuing $7 billion in preferred stock this month to cushion against losses in lower-quality mortgages.
----------------------------------------------------
Fannie Cutting Dividend, Selling Stock
Tuesday December 4, 5:47 pm ET
Fannie Mae Cutting Dividend 30 Percent, Selling $7 Billion in Preferred Stock to Raise Capital
WASHINGTON (AP) -- Mortgage finance giant Fannie Mae on Tuesday announced it was cutting its dividend 30 percent and selling $7 billion in special stock to raise additional capital.
The government-sponsored company said it was slicing its dividend to 35 cents a share, starting in the first quarter of next year, and issuing $7 billion in preferred stock this month to cushion against losses in lower-quality mortgages.
The joos are looking at gold now.
Abramovich buys gold mine stake
http://news.bbc.co.uk/1/hi/business/7126837.stm
Abramovich buys gold mine stake
http://news.bbc.co.uk/1/hi/business/7126837.stm
ECONOMIC REPORT
U.S. gained 189,000 jobs in November, ADP says
By Greg Robb, MarketWatch
Last update: 9:50 a.m. EST Dec. 5, 2007
WASHINGTON (MarketWatch) -- U.S. private-sector employment rose by 189,000 in November, according to the ADP employment report released Wednesday.
The report suggests the labor market remains a source of strength as the economy weakens in the fourth quarter. A strong job market may make some analyst rethink their projections that the Federal Reserve will aggressively cut short-term interest rates by a half a percentage point next week.
The ADP report's results are well above projections of Wall Street economists for the government nonfarm payrolls survey to be released on Friday. Economists surveyed by MarketWatch are expecting payrolls -- both public-and private-sector -- to grow about 60,000 for November. See Economic Calendar.
The ADP report's considered by some to be the best single predictor of the government's nonfarm payroll report.
Joel Prakken, chairman of Macroeconomics Advisers, the economic firm that computes the ADP index from anonymous payroll data supplied by Automatic Data Processing Inc., said seasonal hiring may have been stronger than analysts were expecting.
Prakken said that Wall Street economists are too pessimistic, given all the discussion of the turmoil in subprime mortgage market and financial meltdown.
"Employment is a lagging indicator of GDP. We've just come off two very strong quarters of GDP," Prakken said in an interview on CNBC television.
Prakken said the data were adjusted for a five-week period, but there were no other statistical quirks.
Adding an estimated 25,000 or so additional government jobs that aren't included in the ADP index, the ADP report suggests nonfarm payrolls likely rose by about 214,000 in November.
The ADP sample is taken during the same week of the month as the government survey, using similar techniques on anonymous sample data compiled from about 307,000 business sites covering about 17 million workers. Roseland, N.J.-based ADP
Delayed quote data
(<IMG class=pixelTracking height=1 width=1 border=0>ADP) provides payroll and human-resources services to about one of every six U.S. workers, at more than 500,000 companies.
According to the report, the service sector produced all of the jobs in November, adding 197,000 jobs. Employment in the goods-producing sector fell by 8,000. Manufacturing jobs declined a slim 5,000.
The ADP has averaged 123,000 jobs created in the last three months, stronger than 43,000 in the period from July-September.
Greg Robb is a senior reporter for MarketWatch in Washington.
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U.S. gained 189,000 jobs in November, ADP says
By Greg Robb, MarketWatch
Last update: 9:50 a.m. EST Dec. 5, 2007
WASHINGTON (MarketWatch) -- U.S. private-sector employment rose by 189,000 in November, according to the ADP employment report released Wednesday.
The report suggests the labor market remains a source of strength as the economy weakens in the fourth quarter. A strong job market may make some analyst rethink their projections that the Federal Reserve will aggressively cut short-term interest rates by a half a percentage point next week.
The ADP report's results are well above projections of Wall Street economists for the government nonfarm payrolls survey to be released on Friday. Economists surveyed by MarketWatch are expecting payrolls -- both public-and private-sector -- to grow about 60,000 for November. See Economic Calendar.
The ADP report's considered by some to be the best single predictor of the government's nonfarm payroll report.
Joel Prakken, chairman of Macroeconomics Advisers, the economic firm that computes the ADP index from anonymous payroll data supplied by Automatic Data Processing Inc., said seasonal hiring may have been stronger than analysts were expecting.
Prakken said that Wall Street economists are too pessimistic, given all the discussion of the turmoil in subprime mortgage market and financial meltdown.
"Employment is a lagging indicator of GDP. We've just come off two very strong quarters of GDP," Prakken said in an interview on CNBC television.
Prakken said the data were adjusted for a five-week period, but there were no other statistical quirks.
Adding an estimated 25,000 or so additional government jobs that aren't included in the ADP index, the ADP report suggests nonfarm payrolls likely rose by about 214,000 in November.
The ADP sample is taken during the same week of the month as the government survey, using similar techniques on anonymous sample data compiled from about 307,000 business sites covering about 17 million workers. Roseland, N.J.-based ADP
Delayed quote data
(<IMG class=pixelTracking height=1 width=1 border=0>ADP) provides payroll and human-resources services to about one of every six U.S. workers, at more than 500,000 companies.
According to the report, the service sector produced all of the jobs in November, adding 197,000 jobs. Employment in the goods-producing sector fell by 8,000. Manufacturing jobs declined a slim 5,000.
The ADP has averaged 123,000 jobs created in the last three months, stronger than 43,000 in the period from July-September.
Greg Robb is a senior reporter for MarketWatch in Washington.
<!-- StoryTop, clearall, StoryBottom --><!-- THERE MUST NOT BE ANY CONTENT BETWEEN END OF StoryBottom DIV AND START OF MidRail DIV!!!!! -->
i was correct with market direction today, just picked the wrong stock.
would have worked out well had i just bought the index.
major indexes still climbing to new daily highs.
:nopityA:
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nice call with that sigm, new highs again today.
the type of stock i like....buy high and sell higher.
would have worked out well had i just bought the index.
major indexes still climbing to new daily highs.
:nopityA:
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nice call with that sigm, new highs again today.
the type of stock i like....buy high and sell higher.
Here comes 1490 on the S&P. If we can blow through by the close, then I hope Tizzy the bear is ok. That kid wants so much for the market to tank so he can tell us how smart he is. He seems like the kind of bear who will never admit that he was wrong, just that he was early.
:lolBIG:
of course i'll admit that i'm wrong if the october high does not prove to be the top of the most recent bull and future shows we in fact didn't enter a new bear market
that is my predicition and will eat crow if that is not the case
i'm hedged but obviously quite short, and no i don't have 50% of my holdings in one stock (or short for that matter although its pretty close) as you as you showed in some pie chart in the recent past
S&P gave its 200 DMA a kiss once again (with a lower high), did it come back for seconds before saying goodbye for good?
I trade for a living, you are just some Johnny come lately who thinks you have it all figured out but you have no documented picks to prove that you are a winner. Every time the market dips you claim victory. Even right now the market is up 120 points and you are "happy" because it was up as much as 180 and now it's "falling off". Every time the market pops you "expected it" and are now waiting for it to fall off. You never admit that you are wrong and have an arrogance about you that is really pathetic considering you don't post picks, but rather just state every day that you think we are some kind of bear market. I know, I know, if I had invested in US stocks at the peak in 2000 then my investment would be flat (losing because of deflation). That is really something to hang your hat on by repeating that same statement when stocks were trading at 30 times earnings. When you make your living trading, then your opinion will be alot more valid rather than rah rah ing every time the market gets crushed. Oh and that stock that is 50% of my folio started out as 20% and has grown to that much by tripling in value. But you wouldn't know anything about that because it requires being long and you can't make but 100% by shorting one stock.
Post some picks and stick your neck on the line.
Post some picks and stick your neck on the line.
i don't claim to be making money when the markets are going up the day to day stuff doesn't effect my market positions and i just like to talk/rant about it
congrats i don't trade for a living and don't claim to
this is more an informative thread to make my feelings felt that an economic storm is brewing on the horizon maybe i'm wrong
cheer up man :toast:
and everybody calls me the depressed doomer
hno:i'm not gonna break down the percentages
on bearish front i'm short kbh, tol, ctx, axa, bby, rimm, bwld, long qid, mzz, fxp
i'm long bud, tap, mo, rai, artna, xel, hqs
long fxy (yen)
hold physical gold
and some cash
woo hoo time to save those who messed up, compassionate "conservatism" at its finest hno:
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Bush Mortgage Plan Includes Rate Freeze
Wednesday December 5, 2:56 pm ET
By Martin Crutsinger and Alan Zibel, Associated Press Writers
Bush Mortgage Plan Will Freeze Certain Subprime Interest Rates for 5 Years
WASHINGTON (AP) -- Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures.
These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.
Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.
The administration said that President Bush will speak on the agreement at the White House on Thursday and the Treasury Department announced that Treasury Secretrary Henry Paulson and Housing and Urban Development Secretary Alphonso Jackson would hold a joint news conference Thursday afternoon with officials of the mortgage industry.
Treasury also announced that there would be a technical briefing to explain more of the details of the proposal.
Paulson, who has been leading the effort to craft a plan, said on Monday that the program would only be available for owner-occupied homes -- as a way to make sure that the break is not granted to real estate speculators.
The plan emerged from talks between Paulson and other banking regulators and banks, mortgage investors and consumer groups trying to address an avalanche of foreclosures that are feared as an estimated 2 million subprime mortgages reset from lower introductory rates to higher rates.
The higher rates in many cases will boost monthly payments by as much as 30 percent, making it extremely difficult for many people to keep current with their loans.
The plan is aimed at homeowners who are making payments on time at lower introductory mortgage rates but cannot afford a higher adjusted rate.
Through October, there were about 1.8 million foreclosure filings nationwide, compared with about 1.3 million in all of 2006, according to Irvine, Calif-based RealtyTrac Inc. With home loan defaults still rising, the trend is expected to worsen next year.
hno:-------------------------------------------------------------------
Bush Mortgage Plan Includes Rate Freeze
Wednesday December 5, 2:56 pm ET
By Martin Crutsinger and Alan Zibel, Associated Press Writers
Bush Mortgage Plan Will Freeze Certain Subprime Interest Rates for 5 Years
WASHINGTON (AP) -- Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures.
These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.
Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.
The administration said that President Bush will speak on the agreement at the White House on Thursday and the Treasury Department announced that Treasury Secretrary Henry Paulson and Housing and Urban Development Secretary Alphonso Jackson would hold a joint news conference Thursday afternoon with officials of the mortgage industry.
Treasury also announced that there would be a technical briefing to explain more of the details of the proposal.
Paulson, who has been leading the effort to craft a plan, said on Monday that the program would only be available for owner-occupied homes -- as a way to make sure that the break is not granted to real estate speculators.
The plan emerged from talks between Paulson and other banking regulators and banks, mortgage investors and consumer groups trying to address an avalanche of foreclosures that are feared as an estimated 2 million subprime mortgages reset from lower introductory rates to higher rates.
The higher rates in many cases will boost monthly payments by as much as 30 percent, making it extremely difficult for many people to keep current with their loans.
The plan is aimed at homeowners who are making payments on time at lower introductory mortgage rates but cannot afford a higher adjusted rate.
Through October, there were about 1.8 million foreclosure filings nationwide, compared with about 1.3 million in all of 2006, according to Irvine, Calif-based RealtyTrac Inc. With home loan defaults still rising, the trend is expected to worsen next year.
Give me your best short right now so I can cheer with you when it gets crushed going forward.
I guess I'm in the wrong thread if this thread is only to throw a party when the market gets crushed and put a damper on any bull rallies and anoint them as nothing more than a sharp bear market rally.
I guess I'm in the wrong thread if this thread is only to throw a party when the market gets crushed and put a damper on any bull rallies and anoint them as nothing more than a sharp bear market rally.
a new add i got my eyes on is amzn
about to the pull the trigger little bit timid here as i think they seem to be putting up a fight to try to push through 200 DMA on S&P and this bush bailout plan might be the ammo to get it done as markets picking up since the announcement
i'll let you know if i do
the others i listed i've held for some time the most recent addition axa
