U.S. stocks down after data disappoint

http://www.marketwatch.com/story/us-stock-indexes-rise-on-debt-deal-2011-08-01

NEW YORK (MarketWatch) — U.S. stocks fell on Monday, with the Dow on track for its longest losing stretch in over a year, after data had factory activity near a standstill in July and amid uncertainty over U.S. debt legislation.

“The surprisingly disappointing manufacturing report fueled a growing concern that the ‘soft patch’ may be with us for a while,” said Jack Ablin, chief investment officer at Harris Private Bank.

Relinquishing a 139-point rise, the Dow Jones Industrial Average /quotes/zigman/627449/delayed DJIA -0.65% was lately down 89.23 points, or 0.7%, to 12,054.01, with 24 of its 30 components on the decline, led by Merck & Co. /quotes/zigman/574389/quotes/nls/mrk MRK -3.13% , off 3.2%.

Wall Street’s decline had the blue-chip index extending losses into a new month, after losing 271 points, or 2.2%, in July, its third consecutive monthly decline.

http://www.marketwatch.com/story/ism-manufacturing-gauge-falls-to-two-year-low-2011-08-01

WASHINGTON (MarketWatch) — U.S. manufacturing activity barely grew in July, according to a key index released Monday in a demonstration of an economy struggling to expand.

The Institute for Supply Management’s manufacturing gauge in July dropped 4.4 points to 50.9%, the worst reading since July 2009 and barely staying above the 50% no-change line.

The index came in far below a MarketWatch-compiled economist poll of 54.3%. U.S. stocks slumped after the ISM report, with the Dow industrials /quotes/zigman/627449/delayed DJIA -0.60% recently down by 35 points. Yields on 10-year Treasury bonds fell to their lowest level since November. See Market Snapshot.

Since April, the ISM index has slumped 9.5 points, the worst three-month dip since the September-to-November 2008 period when Lehman Brothers collapsed.

But when the banks were were being attacked by short sellers because of Lehman Brothers didn't they scurry to get investors for revenue? Didn't they use the money Paulson gave them to buy other banks for their deposits? Isn't that what happen to Bear Stearns?

Doesn't it stand to reason that investors seeing the debt deal was cuts with no new revenue make them a bit leery? The credit agencies wanted the Bush tax cuts repealed recently. They didn't get it.

:shrug:

they would have great answers.

lol..they don't post in the afternoon

i've already forgotten what we were talking about.

:rofl: see what I mean..oh Delano, I'll copy it now and submit in the morning..

depression and investors know it.

Bow down in front of his awesomeness! He DA MAN!