Stock Market

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fierceredpanda
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Re: Stock Market

#651

Post by fierceredpanda »

I saw a quote earlier today from the partner running the Energy Practice section for a Houston law firm saying they're pulling lawyers off other projects to work on planning oil company bankruptcies. He was also saying that the ultra-low prices could very well mean a lot of those bankruptcies are likely to be Chapter 7 liquidations rather than Chapter 11 reorganizations. The typical debt-for-equity swap two-step of a reorganization doesn't work if your creditors aren't interested in equity in a company that pulls a worthless commodity out of the ground.

A bell sounds and a violin weeps for the fracking industry.

:violin: :violin: :violin:
"There's no play here. There's no angle. There's no champagne room. I'm not a miracle worker, I'm a janitor. The math on this is simple; the smaller the mess, the easier it is for me to clean up." -Michael Clayton


TexasFilly
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Re: Stock Market

#652

Post by TexasFilly »

Perilous times always seem to result in lots of work for civil lawyers. I was busy for many years during and after the S&L crisis. Bankruptcy lawyers will certainly be fully employed now (if getting back to work doesn't kill them).
I love the poorly educated!!!

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Sterngard Friegen
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Re: Stock Market

#653

Post by Sterngard Friegen »

Sounds like it's time to start investing in windmills. Except for the cancer they produce, they seem like a good investment right now.

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Suranis
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Re: Stock Market

#654

Post by Suranis »

Better be careful. An accident at a wind farm recently sent a wave of highly energetic wind across Ireland.
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Mr. Gneiss
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Re: Stock Market

#655

Post by Mr. Gneiss »

fierceredpanda wrote:
Mon Apr 20, 2020 5:59 pm
A bell sounds and a violin weeps for the fracking industry.

:violin: :violin: :violin:
From a geologist's perspective, I'm looking forward to a long lull in seismic activity for the stable craton otherwise known as mid-America! :mrgreen:

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Princess foofypants
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Re: Stock Market

#656

Post by Princess foofypants »

Whatever4 wrote:
Mon Apr 20, 2020 5:05 pm
That’s the thing about commodities: you screw up, you have to figure out where to put your pork bellies or corn or oil when they deliver it.
Actually had a client that happened to except he needed to deliver on a contract that he didn’t have.

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kate520
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Re: Stock Market

#657

Post by kate520 »

Sterngard Friegen wrote:
Mon Apr 20, 2020 6:26 pm
Sounds like it's time to start investing in windmills. Except for the cancer they produce, they seem like a good investment right now.
And the poor birds. The ground will be littered with them. The windmill industry won’t lift a finger to protect those birdies.
/snarcasm
DEFEND DEMOCRACY

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Whatever4
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Re: Stock Market

#658

Post by Whatever4 »

Princess foofypants wrote:
Tue May 05, 2020 10:25 pm
Whatever4 wrote:
Mon Apr 20, 2020 5:05 pm
That’s the thing about commodities: you screw up, you have to figure out where to put your pork bellies or corn or oil when they deliver it.
Actually had a client that happened to except he needed to deliver on a contract that he didn’t have.
Oh my goodness... what happened?
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Volkonski
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Re: Stock Market

#659

Post by Volkonski »

Courthouse News
@CourthouseNews
·
29m
First June Dow Opening Comes With Tiny Dip http://ow.ly/I4Bz30qLyss
@NickRummell
Image

Not sure why they choose that photo for this tweet. :?
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― Leo Tolstoy, War and Peace

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NotaPerson
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Re: Stock Market

#660

Post by NotaPerson »

In case you hadn't noticed, the Dow is now up about 50 percent from its low several weeks ago. :shock:
Am I being detained?

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RTH10260
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Re: Stock Market

#661

Post by RTH10260 »

individual1 will claim this as a victory in 3... 2... 1...
The S&P 500 erases its losses for the year as Wall Street’s rally continues.

Stocks on Wall Street erased their losses for the year, a remarkable milestone for a market that was reeling just a few months ago as investors feared the damage caused by the coronavirus pandemic.

The S&P 500 rose more than 1 percent on Monday, adding to a weekslong rebound that has been fueled by hopes for a quick economic recovery, significant intervention by the Federal Reserve and a disregard for the serious risks that businesses and consumers still face.

A familiar list of companies has been leading the recent gains. Airlines have been lifted by signs that domestic travel is starting to pick up, and they rallied again on Monday along with Boeing. With oil prices rebounding, crude briefly crossed above $40 a barrel on Monday for the first time in months, energy companies have also surged.

Stocks have been on an upward trajectory for weeks as investors have responded to signs around the world that the virus was abating. New York, the center of the coronavirus outbreak in the United States, on Monday began to lift some restrictions on construction, manufacturing and retail operations.

Progress like that, and early evidence that it means people are returning to work, helped fuel a nearly 5 percent gain in the S&P 500 last week — its biggest weekly run since early April. But the market’s rebound really began in March, after the Federal Reserve signaled its willingness to funnel unlimited amounts of liquidity into financial markets. Since then, stocks have risen more than 44 percent.


https://www.nytimes.com/2020/06/08/busi ... k-7bd27140

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ZekeB
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Re: Stock Market

#662

Post by ZekeB »

They're still swooning at the 13.3 percent unemployment rate when the real rate is 16.3 percent. Wait until the earnings figures start coming in.
Trump: Er hat eine größere Ente als ich.

Putin: Du bist kleiner als ich.

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ZekeB
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Re: Stock Market

#663

Post by ZekeB »

Dow down about 1350 points at 11:30 AM here. There must be some real rookies investing in stocks lately. They look at one day's worth of news and golly gee, they think things are going to be Wunderbar in three months. Then the smarter investors sneak in and snatch any possible gains from the newbs.
Trump: Er hat eine größere Ente als ich.

Putin: Du bist kleiner als ich.

TexasFilly
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Re: Stock Market

#664

Post by TexasFilly »

ZekeB wrote:
Thu Jun 11, 2020 12:30 pm
Dow down about 1350 points at 11:30 AM here. There must be some real rookies investing in stocks lately. They look at one day's worth of news and golly gee, they think things are going to be Wunderbar in three months. Then the smarter investors sneak in and snatch any possible gains from the newbs.
True. CNBC won't let me copy, but here's their main story: https://www.cnbc.com/2020/06/10/stock-m ... -news.html

Looks like a combination of things like investors who bought airline and cruise ship stocks dumping them, the Fed report from yesterday and Wall Street finally noting that re-opening is causing COVID surges in places like Texas and Arizona. Scott Gottlieb, the former FDA commissioner points out that Texas never got out of the first wave.

Reading about the markets sickens me as there is no concern for human life, unemployment, massive unrest. It's been party time on Wall Street. How many times have we seen this?

We'll see how the day ends, but this will make the Lunatic in the White House even more unhinged.
I love the poorly educated!!!

Kevin McCarthy: Paul Ryan playing with a head injury -- Jon Lovett

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Addie
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Re: Stock Market

#665

Post by Addie »

The Hill: Trump blasts Fed as stocks plunge, coronavirus cases rise
"The very least you can do in your life is to figure out what you hope for." - Barbara Kingsolver

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ZekeB
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Re: Stock Market

#666

Post by ZekeB »

Some investors sit there with abated breath, waiting for another Trump lie that will give them a reason to buy.
Trump: Er hat eine größere Ente als ich.

Putin: Du bist kleiner als ich.

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RTH10260
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Re: Stock Market

#667

Post by RTH10260 »

I hear a baby crying in the WH
Stocks fall, 1.5 million more U.S. workers file for unemployment, and Congress is divided on extending aid.

Stocks on Wall Street suffered their sharpest daily decline in three months on Thursday as investors’ confidence was rattled by grim new economic forecasts, another 1.5 million weekly unemployment claims and a worrisome uptick in cases in parts of the United States.

The S&P 500 fell nearly 6 percent, and the Dow Jones industrial average fell by nearly 7 percent. Oil prices also cratered, reflecting the sudden unease that swept across financial markets.

Stocks had been on an upward trajectory for weeks, a rally that stood in stark contrast to a collapse in economic activity but seemed to show that investors were betting on a quick recovery as states lifted stay-at-home restrictions. By Monday, the S&P 500 had climbed about 45 percent from its lows in late March and recouped all of its losses for the year.

As the bad news brought Wall Street’s recent rally to a halt, policymakers remained divided as to their next steps. The Labor Department reported Thursday that another 1.5 million U.S. workers had filed state unemployment claims last week, but Republicans and Democrats in Congress remained at odds over whether to extend federal jobless benefits.


https://www.nytimes.com/2020/06/11/worl ... k-660c6432

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kate520
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Re: Stock Market

#668

Post by kate520 »

The irrational exuberance of the market since March is all on him. He’s been lying to us and himself about any rebound, against all evidence and common sense*.






* Yeah, I know. The day they were handing out sense trump thought they said tents and said ‘fuck tents, I’m living in a house’.
DEFEND DEMOCRACY

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