The source would be the nation's CHIEF accountant.
All ain't as rosey as you'd like to believe. Nor as the present administration touts.
You might witness a shocking blow to your long account in coming days. DOW drop of 1500 points next few weeks to start. New DEMOCRATIC controlled congress will have to face the music and start cleaning house. The con job war has to be paid for some how.
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Stock Futures Down on Economic Woes
Monday October 30, 6:43 am ET
Stock Futures Down on Economic Woes, Wal-Mart Forecast
LONDON (AP) -- U.S. stock futures declined on Monday, as concerns about the health of the economy were reignited over the weekend by Wal-Mart Stores' below-forecast October sales numbers.
Dow Jones futures were recently down 23 points, S&P 500 futures slipped 3.10 points and Nasdaq futures dipped 4.5 points.
U.S. markets were coming off a downbeat Friday following news that the country's economy grew at a 1.6 percent rate during the third quarter. The Dow industrials dropped 73 points, the Nasdaq Composite fell 28 points and the S&P 500 ended 11.7 points lower.
Concerns over the U.S. economy lingered over international stock markets on Monday. The Nikkei 225 tumbled 317 points, or 1.9 percent, in Tokyo. The German DAX 30 declined 0.7 percent.
Gold futures climbed, with the December contract up $6.10 an ounce to $607.10. Crude oil futures declined, losing 69 cents to $60.08 a barrel.
The dollar was mixed against the euro and the yen ahead of data on September's personal income, consumer spending and core PCE price index.
The PCE index isn't as favored by the Fed as in the past, The Wall Street Journal reported Monday, due to recent large revisions in the inflation measure. The Fed is debating whether to adopt inflation targets, the report said.
Wal-Mart over the weekend said same-store sales rose just 0.5 percent in October, its smallest rise in nearly six years. It had previously forecast a sales rise between 2 percent and 4 percent.
German-listed Wal-Mart shares declined over 1 percent.
Yahoo shares were up 1.4 percent in Germany after it was upgraded to buy from neutral at Merrill Lynch ahead of the seasonally-strong holiday period.
Elsewhere, Humana, the Louisville, Ky.-based health benefit company, said third-quarter net income more than doubled to $159 million, or 95 cents a share, from $46.8 million, or 28 cents a share, with revenue up 48 percemt to $5.65 billion. Analysts polled by Thomson First Call had expected the S&P 500 component to earn 97 cents a share on revenue of $5.9 billion.
On the merger-and-acquisition front, France's Schneider Electric launched a $6.1 billion, or $31 a share, offer for American Power Conversion. That's a 30 percent percent premium to Friday's closing price.
Australia's Rinker is set to reject an $11.7 billion takeover offer from Mexico's Cemex, The Wall Street Journal reported Monday. |
