Futures don't look so good...

[Buttercup McToots]

Source: Bloomberg

Futures

North/Latin America



INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 11,693.00 -413.00 12,130.00 12,140.00 11,605.00 10:32
S&P 500 1,271.80 -53.50 1,327.50 1,331.60 1,256.00 10:33
NASDAQ 100 1,786.00 -63.50 1,850.75 1,857.75 1,755.25 10:33
S&P/TSE 60 717.60 -29.30 719.40 721.60 715.00 10:23
MEX BOLSA 26,100.00 -863.00 25,800.00 26,150.00 25,800.00 10:22
BOVESPA 54,590.00 -2,790.00 54,200.00 54,800.00 53,750.00 10:27






Europe/Africa



INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJ EURO STOXX 50 3,757.00 -271.00 3,988.00 3,999.00 3,721.00 10:28
FTSE 100 5,596.50 -298.50 5,775.00 5,808.50 5,551.00 10:28
CAC 40 10 EURO 4,800.50 -303.50 5,066.50 5,070.00 4,731.00 10:28
DAX 6,866.00 -513.00 7,320.00 7,334.50 6,812.50 10:28
IBEX 35 12,759.00 -925.50 13,450.00 13,493.00 12,428.00 10:28
S&P/MIB 34,600.00 -1,403.00 35,790.00 35,790.00 34,125.00 10:23
AMSTERDAM 425.95 -24.95 445.45 446.25 421.60 10:28
OMXS30 916.25 -43.75 945.00 947.50 913.50 10:28
SWISS MARKET 7,314.00 -376.00 7,571.00 7,588.00 7,245.00 10:28






Read more: http://www.bloomberg.com/markets/stocks/futures.html

---

"Brother, can you spare a dime?"

[Birthmark]

1. Question:

"DJIA INDEX 11,693.00 -413.00"

Has anyone ever seen it that low? I can't recall EVER seeing the DJ futures anywhere NEAR that low, though I'll admit that I don't always pay attention.

[Buttercup McToots]

2. I think the phrase is...

"hold onto your hat"?
:eyes:

[Birthmark]

3. Hold on to it?

I've stapled it in place. Best not to take chances.

[gateley]

26. I had to sell my hat to buy a hamburger. nt

[femrap]

30. I had to eat my hat....nt

[Zynx]

13. You mean that big of a decline?

I've certainly seen the futures lower than that at around 7100 back in 2002.

However, that big of a decline? No.

[MidwestTransplant]

4. Getting killed. Some of the Euro markets are down 6%+ right now

That's like 720 on the dow

[MidwestTransplant]

5. I'm surprised the 10 year isn't rallying? The bond market is trading today right?

[AZgirl7]

10. flight to bonds?

Ha..........the bond market is imploding right now too. Their insurers are bankrupt! WWW.MoneyandMarkets.com

[MidwestTransplant]

11. I am talking about the treasuries. The insurer of the treasuries

is the US Gov't. They will never default. It's the typical place in a flight to safety.

[modrepub]

6. ouch!

Had a bet with a coworker that the DOW wouldn't get to 11300 before march. Guess I'd better get my $1 ready...

[Hydra]

27. bwahaha!

I love the $1 bet.

[bushisdirt]

7. Here, futures market clearer than Buttercup gave...

[burf]

8. Hello Buttercup

sounds like things will be rockin' on the Stock Market Watch thread tomorrow. Maybe we should start a pool of how long it takes for trading curbs to kick in after the market opens.

Looks as though the rest of the world doesn't think much of Chimpys stimulus package.

[Demeter]

12. I Bet 20 Minutes

if that.

[burf]

32. My thinking is closer to "if that"! n/t

[RUMMYisFROSTED]

9. Better draw the tub...

[Jamastiene]

14. I guess I don't gotta wear shades...

unless of course the Repugs leave some of their rose colored glasses laying around.

[originalpckelly]

15. Dow down 514 in futures?

[originalpckelly]

16. Holy shit, that's like 4%!!!!!

That's one half of a correction in only one session. Tomorrow is going to be a market crash.

And the shit went down even more after you posted!

[originalpckelly]

17. NASDAQ also having a 4% down in futures.

S&P 500 having 4.5%

[BadgerLaw2010]

19. Foreign market crash is today. ADR's and US are tomorrow.

[Buttercup McToots]

18. Dow Jones Industrial Average traded 522 points lower to 11,584 as of 11:30 a.m. Eastern

U.S. stock futures point to major decline on re-open
Everett, WA
Online


By Steve Goldstein & Sarah Turner, MarketWatch
Last update: 12:46 p.m. EST Jan. 21, 2008


LONDON (MarketWatch) -- If futures contracts traded on a day when U.S. stocks weren't even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.
March contracts on the Dow Jones Industrial Average traded 522 points lower to 11,584 as of 11:30 a.m. Eastern.
Futures contract don't move in complete lockstep to the underlying indexes, but by comparison, the Dow industrials fell 382 points on Sept. 20, 2001, just days after the terrorist attack on the Twin Towers, and by 387 points on Aug. 9, 2007, shortly after the recent credit crunch first emerged.
S&P 500 futures fell 60 points to 1,265.00 and Nasdaq 100 futures fell 76 points to 1,773.25.

U.S. markets were closed Monday for the Martin Luther King holiday. Trading won't resume until Tuesday.

The futures declines are on the back of big drops in European and Asian stock markets.
From developing markets like Shanghai -- down over 5% -- to established ones in Paris -- down nearly 7% -- financial institutions around the world sold off. See Europe markets.
Karen Olney, a strategist at Merrill Lynch in London, said investors simply don't trust earnings forecasts any longer.
Monday's decline means that European stocks are trading at price-to-earnings levels about 27% below their long-run average, she said, having dropped to 11.4 times trailing earnings.
"That means the markets are pricing in 80% of the fall to recession-like earnings," she said, using 1990s as a comparison.
Stocks in Europe are trading over 20% below 2007 highs, which meets technical definitions of a move into a bear market.

Stay in cash, Morgan Stanley says
Strategists at Morgan Stanley told clients on Monday to stay in cash.
"Our themes continue to be: patience, earnings recession, U.S. recession spreading global, bear market regime, don't be lured into value stocks as most are likely to be value traps, much more monetary easing. We expect flat but volatile markets just as in the 1989-92 period -- a real whipsaw environment for the market," they said.

Much of the fear stems from worries about potential ratings cuts for bond insurers, such as Ambac Financial (ABK:
AMBAC Inc MBI 8.55, -0.67, -7.3%) , AAA ratings are on thin ice.
Fitch Ratings on Friday downgraded Ambac to AA from AAA after the bond insurer abandoned its plan to sell $1 billion in equity.
When a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well -- putting some $1.4 trillion of municipal bond securities at risk and more than $600 billion of structured finance securities at risk.
"These are things we have never dealt with before. We have never had the volume in credit-default swaps
The fears were lent some support when the head of France's central bank, Christian Noyer, said that French banks "clearly, like all banks, in the world still (are) in the process of marking down assets." See related story.

In Asia, markets feared an $8 billion write off from the Bank of China (HK:3988: news, chart, profile) , one of China's big four financial institutions. See Asia markets.

The rescue plan presented by President Bush last week in a bid to help the U.S. avoid recession also wasn't well-received by markets.
"Ambivalence over Bush's rescue plan for the U.S. economy was the trigger of this rout," said Martin Slaney, head of derivatives at GFT Global Markets.
The Japanese yen surged against rivals -- up about 2% against the euro and 1% against the U.S. dollar -- with investors trimming risk by buying back the low-yielding currency. See currencies.

WestLB of Germany added to concerns by saying it would lose about $1.5 billion this year and take a write-off of similar size.
"Market sentiment is really sour," said Gerhard Schwarz, a strategist at UniCredit Markets. "There's been more bad news from the financial sector on top of continued recession fears," he said, speaking of Monday's equity market action.

Steve Goldstein is MarketWatch's London bureau chief.

http://www.marketwatch.com/News/Story/St....

[FarCenter]

20. Expect a 1987-size break on Tuesday

Since Aisa and Europe have another trading day before we open, it will likely be worse by then.

Of course, the big boys trade electonically around the clock, wherever in the world the markets are open.

[Elspeth]

21. Kick

:kick:

[Elspeth]

22. London shares in biggest fall since 9/11 (from UK Guardian)

Shares in London plunged today following heavy losses in Asia overnight, as intensifying fears over the state of the US economy triggered a wave of selling and talk of market meltdown.

The FTSE 100 index of leading shares was a sea of red, opening nearly 3% lower this morning and steadily ploughing new depths.

It closed at 5578.2 points, down 323.5 points or 5.48% on the day. That is the biggest percentage fall since September 11 2001, and the largest fall in points terms ever, wiping tens of billions of pounds off the value of Britain's biggest companies.

Miners and financial institutions were among the biggest fallers, as investors were unimpressed by a stimulus package for the ailing US economy announced by George Bush on Friday.

http://www.guardian.co.uk/business/2008/jan/21/marketturmoil.equities/print

[DemReadingDU]

23. afternoon kick

probably a wild ride tomorrow

:hi:

[Buttercup McToots]

24. Hi Dem...

Tomorrow will be wild...

[Zynx]

25. As a matter of fact, they are craptacular.

However, it must always be noted that the stock market reflects, rather than drives, the economy.

[Hydra]

28. "Buy futures, sell futures, when there is no future!"

Tomorrow will be a good day for me to get a big tub of popcorn. The trainwreck should be noteworthy.

[mnhtnbb]

29. The next few days are what's called a buying opportunity for those with strong stomachs

[femrap]

31. I don't know....it took the market years to

recoup after 1929. Think I'd rather have some puts.

[mnhtnbb]

33. If you believe 2008 is the next 1929...personally, I think it won't be

that bad. The Repubs can't afford to let the economy tank before the election. But I doubt I'm going to be long in much after the summer.

[femrap]

35. The repugs have already throw at least half a trillion at the

banks for liquidity and it has done nothing. There are $450 TRILLION of default derivatives out there that still need to be addressed. Nothing is going to stop this train...nothing. Can't fight gravity. W has been trying to get this 'bubble' to pop in '09 and not on his watch, but thankfully The Universe/Karma/God/Goddess has said 'no.' The spiral has started.

Time to ATONE FOR THE GREED.

[Demeter]

36. But They Can't Stop The Tanking! They've Been Trying for 2 Quarters Already

and all they've done is devalue the dollar to toilet paper.

[Javaman]

34. Oh come on! the future is so bright...

I have to wear a miners helmet!!!

dude, you are like such the negative nelly!