Word: indexable
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Until a late-day rally on Friday, sparked by word that President-elect Obama would name Timothy Geithner as his new Treasury Secretary, last week was another brutal one for the stock market, with the S&P 500 stock index hitting an 11-year low. From trading floors to kitchen tables, people are anxiously asking, What's next? Historically, the markets rally as one calendar year turns into the next, but could there really be reason to hope for a year-end rally at a time when the only precedents that seem to apply are the worst bear markets...
However, S&P senior index analyst Howard Silverblatt cautions, "You have to look at those companies and see if they will truly make those earnings." If the denominator of the equation falls short, then the P/E ratio doesn't look so hot after all. And there is reason to think projected earnings might be overstated. An ongoing survey of stock analysts by Thomson Reuters projected as of Nov. 21 that next year's earnings growth of S&P 500 companies would be 11.7%. Three weeks earlier, that projection...
...quarterback Brook Hart to fumble, senior defensive tackle Carl Ehrlich recovered the ball with two minutes left to seal another Ivy title. After the play, the stadium’s jumbotron showed captain Matt Curtis hugging and talking with Ehrlich, before looking into the camera and holding up his index finger to signify his team’s place in the final standings.“We were telling each other how much we loved each other,” Curtis said. “It was just an amazing play to have my last play in a Harvard uniform...
...addition, Citigroup holds $172 billion in loans to corporations. In general, corporate bonds have not fallen a lot because there have not been many defaults. The aggregate Barclays corporate bond index is down 3%. Still, because of the size of Citigroup's loan book, wave goodbye to another $5 billion...
...know what leading indicators look like going into a depression," says Achuthan - ECRI has a monthly index that goes back to 1919, a period covering not just the Great Depression of the 1930s but also a severe if shorter downturn in 1920 and 1921. "The magnitude of decline this index shows at the onset of a depression is materially worse than those today...