Tag Archive: financial crisis

Today was not a very good day for the stock market. Today was the official first day of the last quarter of 2011 and we started out in the red. It added to the losses we already experienced at the end of the last quarter (just 3 days ago).

Most of what we have seen today is due to worries from Greece again. It’s kind of amazing how volatile the market has been all because of speculation about how Greece is doing with their economy. We still haven’t received anything solid but investors are selling and buying based on what they think, or feel, will happen with Greece. If they believe that Greece will come out of it soon and have a steady economy again, the markets are likely to rally. If they believe Greece is close to defaulting, then everything will plunge. Most of the rallies and plunges over the past few weeks have been revolving around Greece and its issues.

Today, the Dow Jones fell more than 258 points. It finished at 10,655 points. We are very far from our 12,000 point mark. I do hope that we can get back over the 11,000 mark soon.

The NASDAQ Composite lost more than 79 points or almost 3.3%. The NASDAQ finished off at 2,335. The S&P 500 fell more than 32 points or 2.85% finishing off at 1,099. And finally, the NYSE dropped more than 217 points or a 3.2% drop, finishing off at 6,574 points.

On Friday, we saw Eastman Kodak (EK) plummet to $0.78 per share. Today they bounced back gaining more than 71%. Currently, Eastman Kodak sits at $1.34 per share after an increase of more than $0.56.

This may mean that Kodak may be bouncing back, but it could also be investors jumping on the opportunity to buy a stock at an extremely low price. Remember that at one point, Kodak stocks were worth over $80 a share. If things look better for Kodak again, these investors will be very happy. But it’s still very volatile, nothing dramatic has happened to help Kodak out of its financial crisis. Any investment now would still be considered very risky. Any stock that gains so much in a short period of time is always in danger of dropping even more the days following from massive sellouts of investors cashing in on their profits.

Today was not a good day for the stock market. Tomorrow will hopefully be better. We are at a very low point in the market and the new from Greece definitely isn’t helping. I hope that everything turns around for the rest of the week and we head back over the 11,000 mark. I also hope that what Eastman Kodak saw today wasn’t just investors buying the stock low, I hope it keeps increasing because Kodak could sure use a surge in investors right about now.

Share your thoughts on the plunge today and what you think will happen with Kodak stocks in the coming days and weeks.

It seems that we live in a world of financial awareness. With the present condition of the US economy and the raising of the debt ceiling, there are an increasingly large number of people who are becoming financially aware as they’re worried about their distressed financial state. Though the US government saved itself from yet another national default, the consumers are still struggling to contain their personal debt ceiling so that they can live a life within their means. Debt has become a chronic problem in our lives and it has become the root cause of all the chaos in your lives. The debt reduction and debt consolidation companies are there to assist you in coming out of debt but it is always better to make sure that you take certain steps on your own so that you don’t need to resort to the professional companies.

As the effect of recession has touched almost every particular industry within the US, there has also been a positive side to it. The teenagers have become more financially aware and it has been researched that 67% of the 10,000 teenagers are improving their money management skills due to the economic crisis. Financial experts add that people will somewhat learn from financial crisis and more so because everyone is trying to learn something from people who have hurt their finances due to this recession. Have a look at some important points in which you can uplift your financial consciousness so that you can easily get back on the right financial track.

  • Know how much you spend in accordance with your income: Building wealth is only possible when you can spend in accordance with your present monthly income. Make a list of your gross monthly income so that you get to know how much wealth you have and how much you can spend on your necessities. Stay within your means so that you don’t need to run to professional institutions for financial help. The loans that you may have to take out for repaying your debt obligations all carry high interest rates and thus the more you avoid them, the better for you.
  • Cut short the usage of credit: You must cut short the usage of credit as credit cards carry outrageously high interest rate. Instead of carrying your credit cards, you can rather dump cash in your wallet so that you can get the things that you need with cash. Resorting to credit for something that you can’t afford with cash is not the way to go in the present economic situation.
  • Make your payments on time: You must make your high interest payments on time so that you don’t unnecessarily incur debt and require making high interest payments by causing strain on your wallet. Remember your due dates so that you do not fall back on the monthly payment and accumulate late fees and penalties for crossing due dates. There are credit card companies who charge hefty fees for a payment that is even late by 5 minutes.
  • Know the importance of your credit report: You must know the importance of your credit report so that it becomes easier to keep a track on it. It is very essential that you pull out your credit report from time to time so that you’re able to know what the credit bureaus are saying about you. All banks and financial institutions will check your credit score that implies your financial worthiness. Without a good credit score it is almost impossible for a person to take out a loan with a reasonable interest rate.

Always remember that it is very easy to mindlessly spend money on things that you don’t need. Being a bit more conscious would make you financially aware and thus you can get back on the right financial track. Don’t let the recession knock you down as you have lots of ways to control money than let money control you.

Jason Holmes is a regular writer with http://www.debtconsolidationcare.com/ and is also a contributory writer with other financial sites. His expertise is woven around various aspects of the debt industry and with his e-books he tries to impart to people the different situations and simple solutions to get out of difficult situations. Some of his works include e-books like ‘Credit Score The Quintessential Therapy for a Happy Pocket’, Take Creditors and Collection Agencies to Small Claims Court’ and, My Story- From Depression To a Smile’.