I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Friday 16 August 2013

DOW: 15,112.19 Down 225.47(1.47%)


NEW YORK: US stocks tumbled on Thursday after Dow components Cisco and Walmart spotlighted the weak economic outlook in their earnings reports.

The Dow Jones Industrial Average dropped 225.47 points (1.47 percent) to 15,112.19.
The broad-based S&P 500 gave up 24.07 points (1.43 percent) at 1,661.32, while the tech-rich Nasdaq Composite Index lost 63.16 points (1.72 percent) at 3,606.12.

Shares of information technology giant Cisco lost 7.2 percent after it reported a "softening" outlook in emerging economies and announced it would cut 4,000 jobs.

Walmart meanwhile released disappointing earnings and slashed its 2013 forecast citing weak consumer spending in the US and foreign markets.That sent it shares tumbling 2.6 percent.
At the same time, a strong improvement in weekly unemployment insurance claims suggested a tightening of the jobs market, adding to expectations that the Federal Reserve will beging tapering its bond-buying stimulus program soon.

Dan Greenhaus, chief global strategist at BTIG, said Thursday's data "led people to increase their odds of the Fed reducing purchases in September," prompting a rise in bond yields that unnerved equity markets.

Other tech companies followed Cisco lower, including Microsoft (-1.7 percent), Hewlett-Packard (-4.5 percent) and Yahoo (-3.2 percent).

Another tech-sector Dow component, Intel, fell 2.4 percent after RW Baird downgraded the company. The Baird note cited Intel's heavy leverage to the declining personal computer market, among other factors, according to Barron's.

Walmart, the world's largest retailer, lost 2.6 percent on the day. Fellow retailer and Dow component Home Depot fell 3.0 percent.

Kohl's, another retailer, rose 5.3 percent after reporting earnings of $1.04 per share, one penny shy of expectations. The company also trimmed its full-year profit forecast.
Cosmetic giant Estee Lauder jumped 3.4 percent after reporting earnings of $94 million, 84 percent above last-year's level. Full-year and quarterly profits also bested analyst expectations, in part due to strong results in its skin-care products.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.76 percent from 2.71 percent after getting as high as 2.82 percent, while the 30-year increased to 3.79 percent from 3.75 percent. Bond prices and yields move inversely.

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