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HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years

 
acolyte
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User ID: 308272
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01/25/2009 10:23 AM
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HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
[link to money.cnn.com]
SNIP

Earnings, economy - here comes 'terrible'
The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years.


NEW YORK (CNNMoney.com) -- Investors this week will face the largest batch of company report cards yet, in what is quickly shaping up to be the worst quarter for corporate profits in a decade.

The earnings avalanche will test the market's mettle. Last week, the Dow fought back after falling below the 8,000 point psychological benchmark for four days in a row. Analysts say if the Dow can hang on to this level in the weeks ahead, that's a good indication that a bottom has been set.

The biggest week for earnings brings reports from 137 S&P 500 companies and 12 Dow components. Standouts include Caterpillar, American Express, McDonald's, Yahoo, Wells Fargo and Exxon Mobil.

Only 10% of the 85 S&P 500 companies that have reported so far have topped forecasts. Another 60% have met estimates and another 30% have missed, according to Thomson Reuters.

"We're in the process of absorbing just how bad the fourth quarter was," said Bernard McGinn, CEO of McGinn Investment Management. "We had a feeling things were terrible, now we're getting proof of it. The question is 'where do we go now?"

This week also brings the latest Fed policy meeting - although it's likely to be less influential than usual since the central bankers are expected to keep interest rates unchanged near zero, said Kenny Landgraf, principal and founder at Kenjol Capital Management

Investors will also digest reports on housing, consumer confidence and leading economic indicators early in the week. The end of the week brings the fourth-quarter gross domestic product (GDP) report. It's expected to have fallen by an annual rate of 5.2%, it biggest plunge in 26 years.

"Everyone is bracing for the GDP number to be pretty terrible, but the bigger surprise could come with the housing numbers, which are also expected to be awful," he said.



Last Edited by Account Deleted by User on 08/28/2011 08:16 PM
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
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Anonymous Coward
User ID: 551666
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01/25/2009 10:25 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
I'm still short the market. Things don't look good at all.

Some guy on Bloomberg said we will see 11,500 at end of 09..
Anonymous Coward
User ID: 600645
United States
01/25/2009 10:26 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
Bid deal yawn

markets will trade on technicals.

forming a bottom, markets look out 6 months ahead and already know about all the bad news.
acolyte  (OP)

User ID: 308272
South Africa
01/25/2009 10:27 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
Oops, I see there is already a thread mentioning this.
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
"Credo Quia Absurdum" (I believe it because it's absurd)
Links to my forum on GLP are banned so just google "the chani project forum"
Anonymous Coward
User ID: 551666
United States
01/25/2009 10:28 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
Bid deal yawn

markets will trade on technicals.

forming a bottom, markets look out 6 months ahead and already know about all the bad news.
 Quoting: Anonymous Coward 600645



Yea OK that 6 month thing don't mean shit anymore !!
Anonymous Coward
User ID: 557177
United States
01/25/2009 10:32 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
I am looking for new lows in the Dow....


.
Anonymous Coward
User ID: 517558
Canada
01/25/2009 10:41 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
Where's the supposed guy that works for TPTW saying that it won't happen; they have got it under control?

I wonder when he'll show? lmao
acolyte  (OP)

User ID: 308272
South Africa
01/26/2009 08:10 AM
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Re: HERE COMES TERRIBLE :The week ahead: Investors gear up for a deluge of weak earnings and the biggest plunge in GDP in 26 years
Where's the supposed guy that works for TPTW saying that it won't happen; they have got it under control?

I wonder when he'll show? lmao
 Quoting: Anonymous Coward 517558

let us know if he does lol
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
"Credo Quia Absurdum" (I believe it because it's absurd)
Links to my forum on GLP are banned so just google "the chani project forum"





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