Dow Jones Industrial Average down 332.13 points (-4.01%) - January 20, 2009

[xsited1]

20 Jan
7949.09
-332.13
-4.01

Dow Jones Indexes

 

[Modbert]

20 Jan
7949.09
-332.13
-4.01

Dow Jones Indexes

Stock markets don’t celebrate inauguration - Stocks & economy- msnbc.com

During much of Obama’s address, the average was down about 150 points. The Dow generally declines on Inauguration Day. Traders hadn’t appeared so focused on TV screens since Sept. 29, when the House initially voted against the banking bailout package and the Dow tumbled 777 points.

 

[AllieBaba]

I don't think anyone holds out much hope for a big financial boom anytime during Obama's tenure.

 

[xsited1]

Stock markets don’t celebrate inauguration - Stocks & economy- msnbc.com

If you're going to talk about the dow and inauguration day, then you at least need to mention that this is the Dow's worst Inaugural Day ever.

 

[Modbert]

If you're going to talk about the dow and inauguration day, then you at least need to mention that this is the Dow's worst Inaugural Day ever.

Sure, but you also realize that this is perhaps the worst economy we've ever had during the Dow in it's history except for The Great Depression?

 

[xsited1]

Sure, but you also realize that this is perhaps the worst economy we've ever had during the Dow in it's history except for The Great Depression?

Yes. However, I'm surprised the market didn't respond more favorably to Obama's inauguration. Obviously, the confidence level is very low.

 

[Modbert]

Yes. However, I'm surprised the market didn't respond more favorably to Obama's inauguration. Obviously, the confidence level is very low.

It's low for other reasons if you read the article. The ensuring 4th quarter reports that are going to be low aren't helping things.

It's going to take a little while at the very least for Obama to start really fixing the economy.

 

[AllieBaba]

No, it's low because as stupid as most of you believe Americans are, we do have a grasp of the simplest of math...which means nobody has any faith that if you spend $800 billion, and you provide $300 billion in tax breaks, total financial disaster will occur because the MONEY HAS TO COME FROM SOMEWHERE. This is like 3rd grade math.

 

[SwingVoter]

Sure, but you also realize that this is perhaps the worst economy we've ever had during the Dow in it's history except for The Great Depression?

unemployment is still 3 pts lower than the early 80s recession, we might get there, but I'd wait before jumping all over the hype

 

[Zoomie1980]

Yes. However, I'm surprised the market didn't respond more favorably to Obama's inauguration. Obviously, the confidence level is very low.

The DOW or the rest of the global markets don't give a damn who is the US President because the president has no power over the economy.

The DOW is down because of serious 2009 earning concerns. Nothing more. Investors already know the "stimulus" is going to have no real impact on anything as it doesn't address the core problems behind WHY the economy is contracting.

 

[Zoomie1980]

It's low for other reasons if you read the article. The ensuring 4th quarter reports that are going to be low aren't helping things.

It's going to take a little while at the very least for Obama to start really fixing the economy.

Presidents are powerless in regards to the economy. They cannot legislate or do anything that affects it. What few real powers are left to the office are all in the foreign policy realm.

Modern day US Presidents are figureheads, little more.

 

[Zoomie1980]

Sure, but you also realize that this is perhaps the worst economy we've ever had during the Dow in it's history except for The Great Depression?

It's not even close. Has yet to eclipse 1991-92 and isn't even close to the 1982-83 recession.

 

[Toro]

I don't think anyone holds out much hope for a big financial boom anytime during Obama's tenure.

Sure I do. The fact that so many people are despondent, that stocks are cheap and are on course for their worst decade ever makes me very optimistic about stocks over the next four years. The next four months, maybe not, but the next four years, you bet.

It's simple why stocks went down today. There was yet more bad news from a bank, this time from State Street, a processing and trust bank that isn't supposed to have issues like this. Also, everyone is now waiting for Citigroup and Bank of America to go belly up. As long as those two keep going down, stocks will go down. Traders were anticipating an Obama bounce. The Dow was down about 150 points when Obama was speaking. When it became evident the bulls had zero firepower, the bears came in right after Obama finished and began hammering stocks.

 

[mash107]

It's low for other reasons if you read the article. The ensuring 4th quarter reports that are going to be low aren't helping things.

It's going to take a little while at the very least for Obama to start really fixing the economy.

How do you propose he does that? He's been supporting the failed Bush policies of the last few years (bailouts, letting the Fed control interest rates, etc). And he supports giving even more power to banks, as now they have the helping hand of the feds, no matter what.

You would think if interventionism is what caused this problem to begin with, the next President would do a 180 on previous policies and let freedom work, but I guess I'm not that smart.