Let's hope so! I want to buy some more :)
On 7/25/08, Vic <[EMAIL PROTECTED]> wrote: > hari ini bank n property crash?? regional open minus. > > > > --- In obrolan-bandar@yahoogroups.com, rudd haas <[EMAIL PROTECTED]> wrote: >> >> U.S. Stocks Tumble, Led by Banks, Builders on Housing Concern >> >> By Lynn Thomasson >> July 24 (Bloomberg) -- U.S. stocks tumbled, sending financial shares > to their worst drop in eight years, after home sales slid more than > forecast and investor Bill Gross predicted the housing slump will cost > banks and brokerages $1 trillion. >> Citigroup Inc., Bank of America Corp. and Goldman Sachs Group Inc. > retreated and shares of builders posted their biggest decline ever as > a report showed sales of previously owned homes fell to the lowest > level in a decade. Ford Motor Co., the world's third-largest carmaker, > plunged the most since August 2000 after reporting a loss twice as big > as analysts estimated. >> ``I would feel very uncomfortable for the average investor to get > too aggressive in financials,'' said Stephen Wood, who helps manage > $213 billion as a senior portfolio strategist at Russell Investments > in New York. The recovery in the housing market ``isn't going to be > coming any time soon.'' >> The Standard & Poor's 500 Index dropped the most since June 26, > losing 29.65 points, or 2.3 percent, to 1,252.54. The Dow Jones > Industrial Average slid 283.1, or 2.4 percent, to 11,349.28. The > Nasdaq Composite Index tumbled 45.77, or 2 percent, to 2,280.11. Five > stocks retreated for each that gained on the New York Stock Exchange. > European shares declined as German business confidence sank, while > Asian shares advanced. >> Banks Tumble >> Financial stocks in the S&P 500 fell 6.7 percent as a group, the > third drop in the past three weeks greater than 5 percent. Today's > slump follows a six-day, 30 percent rally spurred by > better-than-estimated earnings reports from Citigroup, JPMorgan and > Wells Fargo and legislation to rescue Fannie Mae and Freddie Mac. >> The S&P 500 pared its rebound from an almost three-year low on July > 15 to 3.1 percent. >> Citigroup, the largest U.S. bank by assets, lost 9.8 percent to > $19.06. Bank of America, the second-biggest, sank 8.4 percent to > $30.64. JPMorgan, the No. 3, retreated 6.7 percent to $39.14. Goldman, > the biggest securities firm, slid 4.1 percent to $180.26. >> The slump in sales of previously owned U.S. homes signaled weakening > consumer confidence is hurting demand. Resales dropped 2.6 percent to > a lower-than-forecast 4.86 million annual rate from a 4.99 million > pace the prior month, the National Association of Realtors said. The > median home price dropped 6.1 percent from June last year. >> Washington Mutual Slides >> Washington Mutual Inc. dropped 13 percent to $4.03, bringing the > stock's two-day decline to 31 percent. Gimme Credit LLC said unsecured > creditors were ``pulling funds'' from the biggest U.S. savings and > loan, citing a decline in federal funds purchased and commercial > paper. The company fell yesterday after Piper Jaffray Cos. advised > investors to sell the stock and Merrill Lynch & Co. and Friedman > Billings Ramsey Group Inc. analysts said the bank may need more capital. >> Washington Mutual said in an e-mailed statement that it does all of > its business through banking operations and ``does not rely on > commercial paper.'' >> The 28 percent jump in the S&P 500 Financials Index during the five > trading days ended July 22 was the biggest one-week advance for any of > the S&P 500's 10 industry groups since daily calculations on the > indexes began in 1989, according to Harrison, New York-based research > firm Bespoke Investment Group LLC. >> An S&P index of 15 homebuilders slumped 12 percent, its biggest drop > ever, as 13 of its companies retreated. >> Ryland Group Inc., the U.S. homebuilder for first-time buyers, > tumbled 19 percent to $21.43 and led the group's decline after > reporting a second-quarter loss that exceeded analysts' estimates. >> A total of $5 trillion of mortgage loans belong to ``risky asset > categories,'' Gross, manager of the world's largest bond fund at > Pacific Investment Management Co., said in commentary posted on the > firm's Web site today. >> $1 Trillion Forecast >> His $1 trillion forecast implies that credit-market losses are less > than halfway over. Since the start of 2007, global financial firms > have reported $468.1 billion in losses and writedowns, according to > data compiled by Bloomberg News. Firms worldwide have raised $344.6 > billion of capital since the third quarter of 2007. >> ``As long as housing prices go down, no one can say how much the > banks are going to lose and how long it will last,'' said Charles > Knott, who oversees $800 million as chief investment officer at Knott > Capital Management in Exton, Pennsylvania. >> The number of vacant houses hit an all-time high in the second > quarter as the U.S. real estate recession pushed homeowners into > foreclosure and lenders seized properties. A total of 18.6 million > U.S. homes stood empty, more than at any time in history and 6.9 > percent higher than a year earlier, the U.S. Census Bureau said. >> Consumer Shares Slide >> Homebuilders, automakers and hotel owners dragged a group of > consumer stocks down 2.8 percent as oil rose from a seven-week low on > speculation crude's retreat during past two weeks has been too much. > Crude for September delivery added $1.05, or 0.8 percent, to $125.49 a > barrel. >> Ford tumbled 15 percent to $5.11. Excluding costs the company > considers one-time expenses, the loss was $1.38 billion, or 62 cents a > share. On that basis, Ford was expected to report a loss of 28 cents a > share, the average estimate of 12 analysts surveyed by Bloomberg. >> Starwood Hotels & Resorts Worldwide Inc. fell the most since July > 2002, tumbling 11 percent to $35.26. The third-largest U.S. lodging > company said full-year profit may drop more than analysts estimated as > consumers and businesses trim travel spending to cope with a weakened > economy and higher gasoline prices. >> Marriott International Inc., the biggest hotel chain, slumped 8.7 > percent to $26.06. >> McDonald's, AT&T >> McDonald's Corp., the biggest restaurant company, lost 2.2 percent > to $58.37. Deutsche Bank analysts led by Jason West cut their > recommendation on the shares to ``hold'' from ``buy,'' writing that > higher beef costs and fewer customer visits may reduce profitability. >> AT&T Inc. led phone companies in the S&P 500 to a 3.1 percent drop > after JPMorgan Chase & Co. cut the largest U.S. telephone carrier to > ``neutral'' from ``outperform'' on concern the company's wireline > business will deteriorate. AT&T fell 4.1 percent to $31.70 for the > steepest drop since February. >> Amazon.com Inc. added the most since in a year, gaining 12 percent > to $78.72. Second-quarter profit topped analysts' estimates after > Chief Executive Officer Jeff Bezos promoted free shipping and lower > prices to entice U.S. customers. Full-year sales may rise to as much > as $20.1 billion, compared with an earlier forecast of as much as $20 > billion, the company said. >> A bigger-than-forecast increase in jobless claims also weighed on > stocks. A government report showed the number of Americans filing > first-time claims for unemployment benefits rose last week to 406,000, > the highest in almost four months, signaling the slowing economy is > weakening the labor market. >> `Drifting Over' >> ``You are starting to see a lot of the problems in the financial > area drifting over into more of the real economy,'' Tobias Levkovich, > the chief U.S. equity strategist at Citigroup Inc. in New York, said > in an interview on Bloomberg Television. >> Except for Canada, all of the 23 developed markets in the MSCI World > Index experienced bear market plunges of at least 20 percent since > September as global credit losses grow and oil trades near a record. > The S&P 500 is 20 percent below its October record, having pared a > drop of as much as 22 percent. >> Brazil today became the 23nd out of 25 developing markets in the > MSCI Emerging Markets Index to >> � >> �enter a bear market. >> Chipotle Mexican Grill Inc. fell the most since McDonald's sold the > company to the public in January 2006, losing 20 percent to $67.30. > The fast-food chain reported 0.9 percent less second- quarter profit > than analysts estimated, according to Bloomberg data, amid higher > costs for beef and cheese. >> Qualcomm Inc. surged the most since May 2002, jumping 17 percent to > $52.43. The world's biggest maker of mobile-phone chips increased its > 2008 sales and profit targets and settled a patent dispute with > handset maker Nokia Oyj. >> To contact the reporter on this story: Lynn Thomasson in New York at > [EMAIL PROTECTED] Last Updated: July 24, 2008 17:05 EDT >> > > >
