by Divorced one like Bush
The Yahoo Financial page has had this headline from the AP up for a while today:
Investors are cautious as swine flu cases increase- AP
This is the first line:
The swine flu gave Wall Street a reason to turn cautious. The Dow Jones industrial average gave up a midday recovery and retreated about 0.6 percent Monday as the swine flu’s death count in Mexico grew to about 150 people from 100.
Really? Swine flu is the reason one should be getting out of the market. Not any of these:
Whirlpool 1Q profit drops on weakening demand – 1 hour, 4 minutes ago
Whirlpool Corp., the world’s largest maker of stoves, refrigerators and other major home appliances, said Monday its first-quarter profit fell 28 percent on slumping sales, softening consumer demand and the stronger dollar.
Boeing CEO calls slump ‘once-in-a-lifetime’ event – AP – 1 hour, 5 minutes ago
Boeing Co. Chairman and Chief Executive Jim McNerney assured shareholders Monday that the company is in strong shape to ride out the “once-in-a-lifetime” downturn that has walloped its profits, jetliner orders and stock price.
GM to cut 21,000 US factory jobs, shed Pontiac – AP – 2 hours, 39 minutes ago
General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.
Or this from a few days ago:
Retail import volume at U.S. container ports to decline at least through summer, report says
Import cargo volume at major U.S. retail container ports fell again in March after dropping below the 1 million twenty-foot-equivalent (TEU) mark in February, the first time in seven years the total had fallen that low. And the volume declines should continue for at least a few more months, according to an IHS Global Insight-National Retail Federation (NRF) report issued Wednesday.
U.S. ports will handle an estimated 987,371 TEUs in April, which would represent a 22 percent drop compared with the same 2008 period, after handling an estimated 930,142 TEUs in March, a 19.7 percent decline compared with March 2008’s total, according to the IHS Global Insight-NRF monthly Port Tracker report.
Swine flue is what’s doing it for you hey? Not that workers are being shed, profits are down, container traffic is down. I mean come-on, what could a company not making a profit or selling less stuff while shedding jobs in a down economy that was 70% consumer driven have to do with you making money off of their stock. Nothing I guess.
Nothing has changed. There are still two economies and only one of them is a concern.