Tag Archive: president obama

Jobs Data sends stock market to finish lower

by Jeroen van Oostrom

Earlier today, the US Jobs Data was released for September 2011. We needed some good news after the terrible job report from August which didn’t create any jobs at all. For September, everyone expected around 50,000 jobs to be created. But the report was better than expected.

The report stated that 103,000 jobs were created in September. Sure you may think that it’s great, but a large portion of the number is Verizon workers going back to work in September after the strike that we saw over the summer. This is actually not great news. It’s decent news that we are actually creating jobs in the economy, but it’s no where close to getting us out of the high unemployment rate that we seem to be stuck on.

August 2011′s job data was also revised. The number went from 0 jobs created to 57,000 jobs created. Although that’s good news, it’s still no where close to getting us out of the 9.1% unemployment rate that we have been stuck on for months.

The Congressional Budget Office is predicting that the number will get better by the end of the Fourth Quarter of 2011. They are expecting it to drop to 8.9%. It’s not a huge drop but still, it’s below 9%, something we haven’t seen for a very long time.

This will be a big challenge for President Obama when it comes to his reelection. By the 2012 elections, the unemployment rate will still be very high, estimated to be around 8.5%. If President Obama is reelected, it will be pretty historical because it has never been done while the unemployment rate is so high. But we will have to see how things go. If things start turning around this quarter or the beginning of 2012, President Obama may have a good chance of being reelected. But it’s still to early to assume anything.

You would expect the stock market to do some rallying after the better than expected jobs data earlier today. But it wasn’t the case. The mixed jobs report actually sent the stocks finishing lower than yesterday. The economy in Italy and Spain were also downgraded today which added to the reasons for the drop today.

Today, the Dow Jones dropped 20 points, finishing at just over the 11,103 mark. The NASDAQ Composite lost over 27 points finishing at 2,479. The S&P 500 dropped just over 9.5 points, finishing at 1,155. And the NYSE dropped more than 71 points, finishing at 6,925.

Apple recently announced it’s iPhone 4s. But the death of Steve Jobs has left a small impact on the value of the Apple (AAPL) stock.  The value of Apple dropped just over 2% or $7.57 a share. it’s not a big drop and they will bounce back soon. Because of Steve Jobs, Apple is one of the strongest companies in the world and it won’t be going anywhere. It is the legacy Steve Jobs left behind and it will be around for a while. So right now, the 2% drop means nothing for its future.

Sprint (S) suffered a huge loss after announcing financial issues. They dropped nearly 20% today, or $0.60 per share. They finished at $2.41 a share.

Clearwire Corporation (CLWR) suffered a bigger loss when Sprint announced that they will no longer be selling phones that work on the Clearwire network. Their stocks dropped $0.66 per share, or 32%.  And MetroPCS Communications (PCS) also suffered a loss of 7.8% or $0.67 per share finishing at $7.93.

The telecommunication industry took a pretty big hit today. But this would also be a great opportunity for investors to jump in to buy these stocks at a low price. If that happens, it should send all three stocks back up. I believe that we need Sprint to stick around to be able to compete with the two big names of AT&T (T) and Verizon (VZ).

Today was the end of the first week of the last quarter. We are finally back over the 11,000 mark with the Dow thanks to three days of rallying. Although the jobs data today wasn’t great, it was still better than expected. I hope that things do turn out better in the near future. We already have Greece in trouble, hopefully Italy and Spain won’t go the same way.

Stocks stay positive for the whole week

by jscreationzs

For the first time in a long time, we have had a full week of growth in the stock market. I honestly don’t remember the last time where the stock market went up every day for five straight days. Today marked the 5th straight day of winning in the stock market. Although I wouldn’t call today’s upward motion of the stock market a “rally” but it was still a positive days. Most stocks went up (although some still suffered losses) which resulted in another day of win in the sock markets all around the world.

The Dow Jones Industrial Average today finished with a gain of almost 76 points. It is over the 11,500 mark and it is getting closer and closer to our targeted 12,000 mark. There is still a long way to go and this weeks Rally of the stock market (after the 3 day slump we saw the week earlier), could trigger another sell off by investors because they may use this opportunity to sell at a moderately high price. Hopefully that won’t happen and investors continue to invest in businesses which would be great for everyone.

The NASDAQ Composite gained more than 15 points finishing at over 2,622 points. The S&P 500 Gained almost 7 points making this week the biggest gains for this Index since July. Currently the S&P 500 is at 1,216. And finally, the NYSE gained more than 19 points, finishing at 7,348 points.

Overall, today was a great day for the market. This turned out to be a great week for the market. I was hoping that the updraft in the market would stick for the whole week and it did. I had my doubts, especially earlier this week when we received bad news from Greece defaulting as well as losses here in the US. At first it seemed as if the negative trend from the prior week would continue into this week and I’m glad it didn’t. The little hope that we saw at the end of the Market day this past Monday triggered the rallies that we have seen all week long all around the world.

Lets hope that the momentum continues and goes over to next week and the following weeks to come. If consumers and investors keep doing what they have been doing this week, we will be on our way to economic recovery in no time. And if President Obama’s Stimulus plan actually gets passed and this time, actually works, we may see the unemployment numbers decline greatly in the next year. It would be great for President Obama with his reelection coming up and of course, it’ll be great for everyone else in the country as well.

Not all stocks prospered this week. I mentioned Netflix (NFLX) yesterday and how it dropped nearly 20 percent after reporting a loss of more than a million subscribers thanks to their new pricing. Netflix’s (NFLX) negative momentum carried over to today and it saw another big drop. This time a drop of over 8.3%, or $14 per share. It is getting closer and closer to its 52 week low. The drop wasn’t as big today as yesterday which could be a good sign that the drop will eventually stop and then slingshot back upwards. It won’t be the first time we have seen that and I won’t be surprised if Netflix recovers just as quickly. It is still a huge company with a lot of stock power in the market, I don’t think Netflix is going anywhere any time soon.

One stock that rallied and had a great day today was Amazon (AMZN). Amazon gained more than 5.5%, or $12.50 per share. It’s current price is $239.30. This week turned out to be pretty good for Amazon and the news from Netflix helped Amazon grow as well.

Unlike last week, I’m glad to saw that this week ended on a very positive note. Lets hope that everything continues into the coming weeks. The holidays are approaching soon and if we can get consumers to spend and investors to invest more, we should be able to pull ourselves out of the recession that we put ourselves in several years ago. Keep a positive mind out and we’ll be out of trouble in no time!

What do you think will happen to the stock market in the coming weeks? Will we be able to go over the 12,000 mark soon? Or will we plummet back below the 11,000 mark that we have fought for this week?

Market finishes positive before it closes

by jscreationzs

The stock market had a bad opener this morning. It looked like today would be another day, the third market day in a row, where we would see a drop in the stock market. People were still worried about the bad news coming out of Europe and they feared the worst for Europe’s debt crisis.

Thankfully the worries have calmed down, for now at least. It has decreased the losses we have experienced recently and hopefully the worries keep going down. As I mentioned before, the mentality of investors can sway an entire market up or down just based on what they believe will happen. Right now, investors see a brighter future for Europe so the Global Economy is reaping the benefits.

We didn’t see huge gains in the market because all of the green came later in the market day. I actually didn’t even pay attention to the market for a good portion of the day because I was busy. When I first looked at the market, it was about 11am and the market was going down and it looked like it’ll keep going down due to fears about Europe. Then I come back at around 5PM (an hour after the market closes), and everything is in the green. It definitely surprised me, a good surprise.

The Dow Jones Gained almost 69 Points or just 0.6%. It wasn’t a huge gain but it was enough to get us past the 11,000 mark once again.  The lead isn’t that big, we need to keep seeing rises in the markets over the next few days to keep over the 11,000 mark and aim for the magic 12,000. Will it happen soon? Maybe, there is no way to predict which way the markets will go with the current level of volatility.

The NASDAQ Composite gamed over 27 points or just over 1%. It’s 5 points short of the 2,500 mark. The S&P 500 increased more than 8 points or 0.7%. And the NYSE barely saw an increase. It only rose just over 2 points, not even a tenth of a percent.

Today was not the best day for the stock market, but I’m glad the markets closed on a positive note. Let’s hope the good news keeps coming in. If President Obama’s stimulus proposal is passed by Congress, I’m sure we can see a rally by the stock market. And I also hope that if the package is passed, that it actually solves our problem rather than put another $450 billion hole in our already massive hole.

We’ll have to see how the market does for the rest of the week. Today was definitely shaky but it was a win nonetheless.

Yesterday wasn’t a very good day for the stock market. Stocks were rising early but after Federal Reserve Chairman Ben Bernanke’s announcement which consisted of very little detail as to what the central bank will do regarding the slow economy sent the stock markets plummeting.

Last night, President Barack Obama proposed his new Stimulus plan which would put $447 billion into the economy in the form of  income tax cuts and new government spending. And today, the stock market drops hundreds of points undoing all the positive we have seen at the end of August and at some parts of September.

This all comes after more bad news coming from Europe, such as a rumor going around about a Greek default as well as a resignation of a European Central Bank official. This takes confidence away from investors all around the world which resulted in the horrible trading day that we are experiencing. The news about Greece actually overpowered what President Obama proposed last night. The stock market should have gone up because the proposal was a step towards pushing the economy to recover faster, but the bad news from Greece made the President’s announcement last night almost insignificant. The proposal was supposed to have put confidence back into investors but instead, it was taken away.

Stocks Dive after news from Greece comes in

By Yahoo! Finance

The Dow Jones today dropped more than 300 points so far, or a 2.75% drop from yesterday. It is currently under the 11,000 mark and if the decline keeps up, we will finish below the 11,000 mark for the first time in weeks. The graph on the right provided by Yahoo! Finance shows the huge decline the Dow has seen so far today.

The NASDAQ Composite dropped more than 60 points or more than 2.5% from yesterday. The  S&P 500 dropped more than 30 points or 2.6% from yesterday. And the NYSE dropped more than 200 points or almost 3% from  yesterday. All of the indexes have seen big drops today, adding onto the negatives we saw all week long (except for Wednesday).

President Barack Obama’s proposal is supposed to get the economy rolling again, but will it be passed? Remember that this has to be approved by Congress and right now, Congress is controlled by the Republicans and they can very well shut down Obama’s stimulus proposal for various reasons.

One of the reasons for the rejection could be the government is spending all over again when they don’t have any money to spare. The $447 billion could be used in other ways, tax cuts may not be the best way to do it. The government is already in trouble with money and more spending could be a huge setback for the country even if it’s to stimulate the economy. We have seen stimulus packages comes out in recent history which were meant to stimulate the economy but they haven’t worked. Some have actually hurt our economy. Some reporters have mentioned that Obama’s proposal had nothing to do with the decline today, but it may have everything to do with it because of past failures.

Another reason for the rejection could be the Republicans just showing their power in congress. They have control and maybe they want to use it. Even though they all want to help out the country, they are still politicians and politicians will always try to outdo other politicians, and this isn’t party specific.

Whatever happens, we very much need the economy to bounce back. And it looks like the first full week of September will end in the negatives. But we still have time! We will have to see where this Stimulus proposal goes and hope that everything works out for the best. I know the economy will bounce back, it’s just happening later than I expected.

What do you guys think has to do with the decline today? Was it Obama’s proposal? Or was it Greece?

Stocks Rally Right Before Obama's Stimulus Announcement

by Idea go

As I said yesterday, whenever the stock market goes up in one direction just a little too much, it’ll balance itself out by going the other direction. For almost 2 weeks, we saw the stock market rally and get very close to the 12,000 mark. And just as quickly, it went back down below the 11,000 mark for a short time. And for the past 3 days, the stock market plummeted several hundred points, basically undoing what the 2 week rally did for us. But today, comes the re-balancing once again.

The stock market has so far seen huge gains today all around. About a 2% increase in the major Indexes, this comes after a 3 day plummet that carried over the Labor Day Weekend.

The Dow Jones Industrial Average so far has seen an increase of more than 220 points and is now sitting at 11,361. That’s a perfect 2% increase from yesterday where it suffered a significant loss.

The NASDAQ Composite is currently at 2,535 after a gain of more than 61 points, almost 2.5%. The S&P 500 so far has risen 27 points, or more than 2.3% and is closing in on the 1,200 mark once again. And the New York Stock Exchange (NYSE) has seen an increase of more than 168 points and it’s currently value is 7,316.

All of this comes after President Barack Obama announces that he will propose a new stimulus to create jobs. This job-creation package is contain more than $300 billion in tax cuts and government spending as reported by the Wall St. Cheat Sheet. This announcement has allowed the stock market to rally like it has today. And unless something drastic happens, we can expect the stock market to stay in the green for the rest of the day.

The proposal is due to come out tomorrow, we will have to see exactly what the proposal entails and determine whether it’s a good idea or bad idea for the economy. Why would it be a bad idea? Well, this wouldn’t be the first stimulus the government has given out in the past few years. The other stimuli were supposed to help stimulate the economy and encourage consumers to spend. They were supposed to take us out of the mini-depressions that we keep experiencing. This stimulus plans to do the same but I am not sure how successful it will actually be.

The economy however, sees the stimulus as good news, thus triggering a rally for the stock market. The stock market may rally tomorrow as well as Friday because of this announcement. This will give investors hope that consumers will start spending again and the economic recovery will speed up. The stimulus isn’t set to come until 2012, so the spike we will experience may be temporary, but it will be a spike nonetheless. If the stock market goes up too much in a short period of time, we can see it balancing itself out again in the near future, like it has done today.

Well President Obama, I hope that the stimulus idea will help the economy. You don’t have much time left to prove that you deserve to be reelected for a second term, and if this works out well, I am sure you won’t have much of a problem for November 2012.

My readers, what do you think about the Stimulus proposal? Do you think it’s a good or bad idea?