10000 here we come !!
Monday, September 29, 2008
They are playing Chicken with the economy out there as we close in to hit the DOW 10,000 mark. No one knows what's going on but at the end of the day we've ended up in a bigger trouble with the House of Representatives rejecting the 700 billion dollar bailout plan.
Not sure if they have an alternate plan but the folks who said 'Nay' better come up with a word or two as to how to salvage some pride. The whole world would soon start making a mockery of the US Economy (which right now looks in shambles) if these politicians try to play a game right now.
777 is the biggest drop ever ( in terms of points) that we've seen and with the future of several Banks at stake who knows what's in stake for us this week. Going into the vote today we all had a perception that it would be passed but they came out empty handed. And now they're talking about trying to present it again and get it passed.
Phew!!
Posted by Rajesh @ 4:41 PM; PERMALINK,
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Its hot and everyone's sweating
Saturday, August 11, 2007
I
ts hot in NYC, its hot in Europe, hot in Japan and other parts of Asia. The Cause - not summer's not the cause, its because of sub-prime mortgage fears and a panic. In today's economy, a global economy, things that happen out here in US is not just restricted to the US. Fear has spread to Europe n to Asia.
With the market swinging up and down staying putt seems to be the sane thing to do. But maybe not - its a hot oven out there on Wall Street now gripped with Fear and Speculation. Although Feds have intervened pouring some liquidity into the market, some are not happy. The real estate market that took a beating looks real bad and some were hoping for rate cuts. Chairman Ben Bernanke decided to play the waiting game and some folks like Cramer are not quite sure why ...
I totally love his show - Mad Money but don't think I totally agree with him. As people are losing money left and right, losing money invested in Financial companies, Real estate - it has started to affect the Tech stocks which are slipping down amidst all this fear, investments like 401k have also suffered a setback as people wait and watch. Its a waiting game as we go into the next week as the market tries to recover from a huge slide which some say is really bad ;the real estate slump is the worst since the Depression.
The weakening $$ doesn't help either, if at all anyone's gaining from all this its the firms in Asia. Just as an example the $ -Indian Rupee conversion now stands at 1 USD ~ 40 Rs, while it was close to 50 about 5 years back. Companies like Wipro (NYSE:WIT) are buying out US software firms and forging ahead in the IT sector.
What's happening in Boston - It was hot and humid 4 days this week and then a sudden slump to 70s. The car sits there in the parking lot baking in the sun and giving company to a GMC truck. It would have hoped of driving through the narrow streets this WE - but not today. Maybe tomorrow ..... if I'm able to get myself off of the Mac, which (as it would have learned by now) is a big IF :P
The weakening $$ doesn't help either, if at all anyone's gaining from all this its the firms in Asia. Just as an example the $ -Indian Rupee conversion now stands at 1 USD ~ 40 Rs, while it was close to 50 about 5 years back. Companies like Wipro (NYSE:WIT) are buying out US software firms and forging ahead in the IT sector.
What's happening in Boston - It was hot and humid 4 days this week and then a sudden slump to 70s. The car sits there in the parking lot baking in the sun and giving company to a GMC truck. It would have hoped of driving through the narrow streets this WE - but not today. Maybe tomorrow ..... if I'm able to get myself off of the Mac, which (as it would have learned by now) is a big IF :P
Labels: Boston, Dollar, Market, NASDAQ, NYSE, Rupee, Stock, Wipro
Posted by Rajesh @ 9:20 PM; PERMALINK,
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