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Omaha Steve

(99,618 posts) Mon Dec 15, 2014, 05:18 PM Dec 2014

Stocks fall after biggest weekly loss since 2012

Source: AP-Excite

By BERNARD CONDON

NEW YORK (AP) — U.S. stocks are falling Monday afternoon, following the market's biggest weekly loss in two and a half years, as the price of oil continues a six-month slide. The Russian ruble has plunged to a record low against the dollar.

KEEPING SCORE: The Standard & Poor's 500 index fell eight points, or 0.4 percent, to 1,994 as of 2:57 p.m. Eastern. The Dow Jones industrial average dropped 68 points, or 0.4 percent, to 17,212. The Nasdaq composite fell 38 points, or 0.8 percent, to 4,615.

The S&P 500 dropped 3.5 percent last week, its biggest decline since May 2012.

OIL: The price of oil dropped, erasing an early gain. Benchmark U.S. crude fell $1.90, or 3.3 percent, to close at $55.91 a barrel on the New York Mercantile Exchange. Oil has fallen by about half since June on waning global demand and abundant supplies. The recent drop to five-year lows has been roiling stock markets.

FULL story at link.

Read more: http://apnews.excite.com/article/20141215/financial_markets-3251c7537a.html

Traders confer as the review stock information at the New York Stock Exchange during early trading, Monday, Dec. 15, 2014, in New York. U.S. stocks opened broadly higher Monday following the biggest weekly losses in two and a half years. (AP Photo/Bebeto Matthews)

7 replies

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Stocks fall after biggest weekly loss since 2012 (Original Post) Omaha Steve Dec 2014 OP

Logic be damned WovenGems Dec 2014 #1

The "Market" is concerned only with stock prices not business performance. rickford66 Dec 2014 #2

The "Market" is concerned only with stock prices not business performance. rickford66 Dec 2014 #3

Here's one (incredible) view for why lower oil/gas prices is bad news for Europe progree Dec 2014 #4

Lower Oil prices also have a down size-I have been laid off as of Friday. Danmack Dec 2014 #5

I hope things look up for you soon. Mojorabbit Dec 2014 #6

Sorry Danmack Mad-in-Mo Dec 2014 #7

WovenGems

(776 posts)

1. Logic be damned

Reply to Omaha Steve (Original post)

Mon Dec 15, 2014, 05:41 PM

Dec 2014

Prices should have gone up as gas prices fall will cause an increase in consumer spending, here and in Europe.

rickford66

(5,523 posts)

2. The "Market" is concerned only with stock prices not business performance.

Reply to WovenGems (Reply #1)

Mon Dec 15, 2014, 06:33 PM

Dec 2014

For example, why would a corporation, making money, lay off employees while still having plenty of customers? Temporary lower bottom line makes the stock look good. It happens all the time.

rickford66

(5,523 posts)

3. The "Market" is concerned only with stock prices not business performance.

Reply to WovenGems (Reply #1)

Mon Dec 15, 2014, 06:37 PM

Dec 2014

For example, why would a corporation, making money, lay off employees while still having plenty of customers? Temporary lower bottom line makes the stock look good. It happens all the time. The Wall Street brokers trade in nanoseconds, driving the prices up and down at the speed of light, but want you and I to hold stock for the long run.

progree

(10,904 posts)

4. Here's one (incredible) view for why lower oil/gas prices is bad news for Europe

Reply to WovenGems (Reply #1)

Mon Dec 15, 2014, 09:34 PM

Dec 2014

"The drop in oil would normally be good news for the European economy, but in this case it's actually bad news because it seriously raises the risk of deflation," said Christian Jimenez, fund manager and president of Diamant Bleu Gestion in Paris.
Source: Oil slide roils emerging markets, stocks fall anew, Reuters, 12/15/14
http://finance.yahoo.com/news/oil-slide-roils-emerging-markets-201544247.html

I'm amazed about how people are so fixated on deflation worries that a drop in one of a region's chief IMPORTS is a cause for concern.

The theory is that deflation is such a horrible horrible thing primarily because (supposedly) consumer spending slows down because people figure they can hold off and wait and get the product cheaper later on.

But I keep thinking we have had deflation in almost every kind of electronics for many decades -- there's always a better deal coming -- more bang for the buck -- for those who wait, yet nobody, nobody frets about that!

Danmack

(479 posts)

5. Lower Oil prices also have a down size-I have been laid off as of Friday.

Reply to Omaha Steve (Original post)

Mon Dec 15, 2014, 09:52 PM

Dec 2014

Don't post very often, but this Oil situation is going to hurt alot of people

Houston Texas is going to hurt big time. Company laid off 25% of the plant.

Made stuff for Oil rigs.

Really sucks, especially at xmas

Mojorabbit

(16,020 posts)

6. I hope things look up for you soon.

Reply to Danmack (Reply #5)

Tue Dec 16, 2014, 02:34 AM

Dec 2014

Mad-in-Mo

(229 posts)

7. Sorry Danmack

Reply to Danmack (Reply #5)

Tue Dec 16, 2014, 10:09 AM

Dec 2014

I also hope you bounce back from that blow better than ever. The holidays is a stinky time to be laid off. Best wishes,
mad-in-mo.

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