U.S. Eyes Large Stake in Citi

[DavidS]

U.S. Eyes Large Stake in Citi - WSJ.com

 

[wimpy77]

oh joy can you say below 7,000 tomorrow.

 

[Toro]

The S&P 500 futures traded up at least 13 points on the news. I am of the opinion that the nationalization, or at least a bigger government stake in the financial system, is good for the economy and the financial system because it provides clarity for investors, at least in the near-term.

 

[dilloduck]

Any such move would give federal officials far greater influence over one of the world's largest financial institutions.

that has such a creepy sound to it.

 

[DavidS]

oh joy can you say below 7,000 tomorrow.

We should be around 6400-6500. We should double what we had when Clinton took office. I think THAT is the bottom.

 

[toomuchtime_]

oh joy can you say below 7,000 tomorrow.

We should be around 6400-6500. We should double what we had when Clinton took office. I think THAT is the bottom.

Not on this news. The problem so far has been that the Obama administration doesn't seem to have a plan to rescue the financial system. That's why Dodd's gossipy talk about nationalization sent the market into a tali spin on Friday despite the WH's denial about it. Any sign the administration's prepared to do anything should give the market some confidence and slow the sell off.

 

[wimpy77]

just checked the futures and they are up 78 right now. anybody want to explain to me in laymen terms what the dow future index is.

 

[Paulie]

just checked the futures and they are up 78 right now. anybody want to explain to me in laymen terms what the dow future index is.

If you're referring to pre-market numbers, it's just a period of time before the opening bell where DOW stocks are trading outside of exchange control. It's somewhat of an indicator of where the market would open at that moment.

Basically, if you went into your trading account and placed a market order during off hours, that reflects in the pre-market numbers, or after-hours numbers, depending when you made your trade. I believe it's a 4 hour period before and after the respective bells where the numbers are reported.

Toro will correct me if I'm wrong.