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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Hope Praytochange who wrote (106047)	6/8/2011 7:32:32 AM
From: TideGlider	2 Recommendations Read Replies (1) \| Respond to of 224668

Bernanke's Talk Kills Stock Rally .Article Video Stock Quotes By STEVEN RUSSOLILLO And BRENDAN CONWAY NEW YORK—A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier stock rally, sending major indexes in the final minutes of Tuesday's session to their fifth consecutive drop. A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier stock rally, sending major indexes in the final minutes of Tuesday's session to their fifth consecutive drop. Jonathan Cheng has details. .The Dow Jones Industrial Average closed down 19.15 points, or 0.2%, to 12070.81. The blue-chip index has dropped 4% during its five-day skid, its longest losing streak since August. The Dow rose as much as 89 points Tuesday afternoon prior to Mr. Bernanke's comments, but turned negative during the remarks and finished at its lowest closing level since March 22. The Standard & Poor's 500-stock index dropped 1.23 points, or 0.1%, to 1284.94, led lower by the technology and telecom sectors. The index, which has dropped 4.5% during its five-day losing streak, hit its lowest closing level since March 18. The sharp reversal came after Bernanke offered downbeat comments on the U.S. economy. He said economic growth has been "somewhat slower" than expected, although he added that the recovery should pick back up in the second half of 2011 despite recent signs of weakness. Mr. Bernanke also said the recovery two years after the end of the recession remains "uneven" and that conditions—particularly in the labor market—remain troubled. "The market is not buying what Bernanke is selling," said Keith Bliss, senior vice president at Cuttone & Co., a brokerage on the New York Stock Exchange floor. "He's not wowing the crowd." Mr. Bernanke's comments follow a drumbeat of weak economic data and worries that the recovery is running out of steam. The government's disappointing jobs report last week came on the heels of several weak regional manufacturing reports and consumer-confidence data that have fueled anxiety on Wall Street. "[Bernanke] certainly seemed to be a little more dour on the economy," said Jay Suskind, senior vice president at Duncan-Williams. "If you had to classify it, it's more glass half empty than glass half full." The disappointing data, combined with the looming end of the Fed's bond-buying program, or "quantitative easing," has weighed on investor sentiment. Chatter on a third round of quantitative easing, or "QE3," has intensified in recent weeks as more investors are discussing whether the Fed may have to enact some new form of monetary support. In corporate news, Temple-Inland soared $8.48, or 40%, to $29.49, as International Paper offered to acquire it for about $3.38 billion in cash. International Paper disclosed the bid publicly late Monday after being rejected by the rival cardboard-box producer in private discussions. International Paper shares rose 13 cents, or 0.4%, to 29.78. Ford Motor plans to reduce its debt by $2.6 billion by the end of the second quarter, bringing its total automotive debt to $14 billion. The auto maker, which unveiled the debt numbers as part of a presentation to investors Tuesday, has been racing to pay down its debt in hopes of boosting its credit rating back to the investment-grade level. Ford shares rose four cents, or 0.3%, to 13.95. Talbots shares plunged 1.79, or 41%, to 2.63, after the apparel retailer's fiscal first-quarter sales missed analyst estimates. The company also said sales and margins for the current quarter will be significantly lower than last year's results. Pep Boys-Manny, Moe & Jack slumped 2.30, or 17%, to 11.20, as the auto-parts and -service retailer's quarterly profit and sales missed analysts' expectations. Cablevision Systems rose 1.53, or 4.5%, to 35.65 after the board approved its spin-off of AMC Networks Inc. Write to Steven Russolillo at steven.russolillo@dowjones.com

To: Hope Praytochange who wrote (106047)	6/8/2011 8:03:20 AM
From: chartseer	3 Recommendations Read Replies (1) \| Respond to of 224668

Maybe just like brain dead liberal David Mamet kenny is starting to see the error of his liberal thinking? Naaa kenny isn't as smart as David Mamet! citizen chartseer