Price increasing for singapore property !

Guest · on *22 Feb 08 2:35 pm*

Stocks End Lower Amid Weak Economic Data
Thursday February 21, 11:18 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Falls After Weak Economic Data Sparks Concern About Recession

NEW YORK (AP) -- The stock market finished with a sharp loss Thursday after bleak readings on the economy heightened investors' fears of recession. The Dow Jones industrial average fell more than 140 points.

Wall Street was disappointed when the Philadelphia Federal Reserve reported that regional manufacturing fell more than predicted. Another piece of bad news was the Conference Board's January index of leading economic indicators, which posted its fourth straight drop.

Investors have already been pricing in another interest rate cut -- perhaps up to half a percentage point -- after minutes from the Federal Reserve's last policy-setting meeting indicated central bankers will remain vigilant about the economy. The Fed, which meets again March 18, has forecast slower growth and continued risks to the economy from housing and credit markets.

Though investors been assured by the central bank that it will lower rates again if necessary, that expectation has not been enough to galvanize their confidence in the stock market and the economy. Wall Street remains concerned that the economy could be so weak that rate cuts, which take months to work their way through the economy, won't prevent further deterioration.

"The Fed cutting rates is a little bit like a fire engine pulling up to your house," said Brian Gendreau, investment strategist for ING Investment Management. "You're happy help has arrived, but still, your house is burning down."

The Dow fell 142.96, or 1.15 percent, to 12,284.30.

The biggest loser among the 30 Dow components was General Motors Corp. after lender GMAC LLC, which is part-owned by GM, said it will slash hundreds of jobs at its auto finance business. GM fell $1.24, or 4.9 percent, to $24.30.

Broader indexes also declined. The Standard & Poor's 500 index shed 17.50, or 1.29 percent, to 1,342.53, while the Nasdaq composite index fell 27.32, or 1.17 percent, to 2,299.78.

"What you're seeing is a tug of war out there," said Arthur Hogan, chief market analyst at Jefferies & Co. "There are those that believe we're in a recession and earnings will move lower, and others that feel we're working on a bottom. That can change the direction of stocks minute-by-minute."

Bond prices moved sharply higher on expectations of a rate reduction. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.77 percent from 3.89 percent late Wednesday.

Light, sweet crude for April delivery dropped $1.47 to settle at $98.23 a barrel on the New York Mercantile Exchange, after the government reported that U.S. crude oil inventories increased by more than expected last week. Crude had reached a new record above $101 in overnight trading.

Gold jumped to a record high above $950 an ounce on Thursday, while the dollar dipped slightly against most major currencies.

In corporate news, there was further evidence that the global credit crisis is far from over. French bank Societe Generale SA said a trading scandal and write-downs linked to the crisis led to a loss in the fourth quarter. The bank lost $4.91 billion, compared with a $1.73 billion profit during the same period of 2006.

MBIA Inc. fell 28 cents, or 2.3 percent, to $11.90 after activist shareholder William Ackman's late Wednesday opposed a plan that struggling bond insurers be split into two companies. The company said Ackman, a hedge fund manager, stood to benefit from negative bets on the stock.

Many companies outside the financial sector are showing resilience. BlackBerry maker Research In Motion Ltd. raised its outlook for fourth-quarter subscriber additions by about 15 percent to 20 percent, citing the popularity of smartphones in the holiday selling season. The stock surged $8.78, or 9 percent, to $106.69.

But there is a great deal of uncertainty about U.S. consumers -- the main drivers of the economy.

Safeway Inc. posted a slight decline in fourth-quarter profit that was in line with analyst expectations. But worries about a recent sales slowdown accelerating as shoppers battle a weakening economy and high food prices drove the grocery store operator's shares down $2.28, or 7.1 percent, to $29.66.

The Labor Department reported that the number of U.S. workers filing new claims for unemployment benefits fell last week. However, claims lasting more than one week rose, suggesting idled workers are staying unemployed longer.

Guest · on *22 Feb 08 3:50 pm*

Guest · on *22 Feb 08 3:50 pm*

Guest · on *22 Feb 08 5:06 pm*

Guest · on *22 Feb 08 6:41 pm*

What do small-time flippers like you know about Dalvey Rd! I guess only in JB can someone like you trade your small pigeon hole for a proper house! Laughing

Guest · on *22 Feb 08 7:54 pm*

I know!! But from the way you flipping for bad news so eagerly to cut & paste... I can be damn F#@king sure you are KING OF LIAR... just like one uncle who gone MIA one!
Followers.. you still haven't found your dream home or that Dalvey Rd bungalow is your dream home? Laughing

Guest · on *22 Feb 08 8:19 pm*

Not only are you financially incapable, you are also mentally incapable too... you just don't seem to have enough intelligence to spot the difference... you think everyone is like you --- suffering from multiple personality disorder! Laughing

Guest · on *22 Feb 08 8:25 pm*

Guest · on *22 Feb 08 8:54 pm*

Guest · on *22 Feb 08 11:13 pm*

Guest · on *23 Feb 08 12:44 am*

[quote="Anonymous"]

Guest · on *23 Feb 08 12:48 am*

Guest · on *23 Feb 08 2:11 am*

Guest · on *23 Feb 08 9:17 am*

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Guest · on *24 Feb 08 12:23 am*

Fisher Says U.S. to Avoid `Prolonged' Slump in Growth (Update4)

By Vivien Lou Chen and Scott Lanman

Feb. 22 (Bloomberg) -- Federal Reserve Bank of Dallas President Richard W. Fisher said that the U.S. will probably see slower economic growth rather than a deeper downturn.

The most likely scenario is that the U.S. will avoid a ``prolonged period of negative economic growth,'' Fisher said during an interview today before a speech in Fort Worth, Texas, without mentioning the term ``recession.'' He also said he's hearing increasing expressions of concern about inflation from executives he speaks with, which got his ``attention.''

Fisher spoke after data this week showed the U.S. is moving closer to a recession, while inflation is accelerating at the same time. He said today that the slowdown in growth will probably last for a ``couple'' quarters and warned that it may be difficult to quickly raise interest rates.

Fed officials anticipate growth of 1.3 percent to 2 percent this year, down from 2.5 percent in 2007. Two members of the panel charged with dating U.S. economic cycles said yesterday that it's too early to decide whether the U.S. is in recession.

``We have to be wary of the fact that we are navigating through an extremely narrow passageway here: with on the one side of us inflationary shoals and on the other the risk of weaker economic growth,'' said Fisher, who alone voted against the Federal Open Market Committee's Jan. 30 decision to lower the benchmark rate by half a point.

`Very Best'

The Fed is doing its ``very best'' to find the right balance between the concerns about both growth and inflation, Fisher said. The central bank must be careful not to stir inflation ``embers,'' he said in his remarks today to the Petroleum Club of Fort Worth. Business executives have relayed concerns about ``building cost pressures,'' Fisher said.

Policy makers last month lowered their benchmark rate by 1.25 percentage point to 3 percent, with an emergency reduction of three-quarters of a point Jan. 22. The moves were the fastest easing of monetary policy in two decades.

The Fed's rate cuts may be more difficult to reverse in practice than in theory, said Fisher, 58. The former hedge fund manager, U.S. trade official and Senate candidate became head of the Dallas Fed in April 2005.

Minutes of the Fed's Jan. 9 and Jan. 21 conference calls and Jan. 29-30 meeting showed this week that some officials may favor a ``rapid'' reversal of rate cuts when the economy stabilizes.

`Bit Precarious'

``It just seems to me to put yourself in that position where one might have to shift gears suddenly is a bit precarious,'' Fisher said today. ``The ability to raise rates quickly if the mood has shifted'' may be ``a more difficult thing to do in practice than in theory,'' he said.

The minutes also showed officials judged ``relatively low'' interest rates may be needed for some time to counteract the faltering economy. Data since the Jan. 30 meeting showed payrolls fell for the first time in four years in January, and private reports indicated a contraction in manufacturing.

``The most likely scenario is slower economic growth and yet not prolonged negative activity,'' Fisher said. ``We have an anemic'' economy right now, he said.

The Philadelphia Fed's general economic index fell more than forecast this month to minus 24, the lowest level since February 2001, a report showed yesterday. The Conference Board's gauge of leading indicators dropped 2 percent in the last six months, which the group says can be one of the ``reasonable criteria for a recession warning.''

The National Bureau of Economic Research's business cycle dating committee monitors payrolls, industrial production, sales and incomes in determining whether the economy has entered a recession.

More Cuts Expected

Traders place 100 percent odds that the Fed will cut the benchmark rate by at least half a point by the end of the next meeting on March 18, futures prices show. Policy makers have lowered the target rate for overnight loans between banks by 2.25 percentage points since September, to 3 percent.

Recent inflation figures were ``not encouraging,'' he added. He said he's talked to 30 chief financial officers over the past few weeks and ``has heard more concern about inflation than in the past.''

Consumer prices rose 0.4 percent from December, spurred by food and energy costs, rents and clothing. Costs excluding food and energy climbed 0.3 percent, the most since June 2006, the Labor Department said two days ago. From a year earlier, consumer prices rose 4.3 percent, approaching a 16-year high. The core rate was up 2.5 percent.

Fisher told reporters after the speech that he questions whether inflation expectations are ``well anchored,'' and that the U.S. economy is in an ``anemic'' condition.

He added that ``there's no doubt there's something wrong'' in credit markets,'' and ``certain excesses may take years to unwind.''

Guest · on *24 Feb 08 12:37 am*

Guest · on *24 Feb 08 12:39 am*

How to know whether US is in recession or not?
To me, the Nasdaq & Dow is still above the major support (try couple of time to break it but still unsucessful) So is not in recession yet so as to say, even is near to it.
As for our STI, the major support is 28XX.. touch twice but couldn't break it... so still ok!!

Guest · on *24 Feb 08 1:52 am*

Price increasing for singapore property !

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Price increasing for singapore property !