From Briefing.com:
Stock Indications as of 08:40 ET: At one point, the Hang-Seng was
down 15% before rebounding to close -10.41%. Including latest close,
Hang-Seng down 25% this week and 35% for the month. Currently,
there is a flight to quality, leading the 30-yr bond 39 ticks higher.
Anything with significant exposure to the Far East is expected to
retreat sharply this morning; for example: ERICY -3... INTC -2... DELL
-3 3/8... KLAC -2 1/4... CSCO -1 1/2...COMS -1 3/4. With the futures
down 15 pts, really no clue where the indices will open. At this pt,
however, we're looking at a minimum decline on the Dow of 150 pts.
Big question is: "who is going to be the first to step up to the plate
and buy on the weakness?"
Stock Indications as of 08:30 ET: Hold onto your hats boys and girls,
turbulence ahead. Following a 10.41% decline in Hong-Kong (preceded
by a 6.2% decline yesterday), investors are worried the world equity
markets will come unglued. As a result, we are currently down limit on
the S&P futures, which means the Dow will sink like a rock at the
open. All the major names indicated lower: IBM -3, MSFT -3.
Separately, DATM indicated 5 5/8 pts lower on earnings. |
