Fasten Your Seat Belts. It’s Gonna Be a Bumpy

…ride, judging by the futures.

09:18 ET Dow , Nasdaq , S&P : [BRIEFING.COM] S&P futures vs fair value: -43.60. Nasdaq futures vs fair value: -52.80. Futures are on the defensive, with a worse-than-expected economic reading not helping matters. Just hitting the wires, August industrial production fell 1.1% in August (consensus -0.3%) and capacity fell by one percentage point to 78.7% (consensus 79.6%). In deal news, Long Drugs Stores (LDG) confirmed earlier today that Walgreen (WAG) expressed unsolicited interest of $75.00 per share in cash for all outstanding shares of LDG. CVS Caremark (CVS) and Longs entered a merger agreement at $71.50 per share in August. Nasdaq at… NYSE Adv/Dec 0/0… Nasdaq Adv/Dec 0/0.

categories Biz | | datetime September 15, 2008 9:32 am

2 Responses to “Fasten Your Seat Belts. It’s Gonna Be a Bumpy”

  1. Retread says:
    September 15, 2008 at 6:50 pm

    And a bumpy ride it was, with the Dow down 4.42 pct, S&P 4.71 and NASDAQ 3.6. And it’s only Monday. Cash, even at one pct is looking attractive.

  2. greg newson says:
    September 15, 2008 at 11:34 pm

    This could be the big one.It is surprising that
    gold isn’t rising in price.Oil is going down,also.
    This isn’t the fifth wave,in my opinion,it will
    come in October like in 1929.But,it is close.
    Years of letting foreigners run are government
    will soon mean total collapse.The USA has become
    a rudderless ship and eventually will hit the rocks.
    The sad thing is we won’t know when it happens.Even in
    1929, the newspapers and politicans kept saying it
    was only a temporary setback.As late as 1934,the politicians were saying the economy was rebounding..

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