Current Event Stock Market

Tyra Monger
12/19/08
Business Economics

Current Event

This week I read about the Wall Street ending lower after the rate cut. Investors were shown a 0% interest rate. The stock market has dropped about one third. Stock markets were way high on Tuesday after the Federal Reserve made the interest rate down to a record low of zero to 0.25 percent. It was lower because traders were cashing out their profits. “It’s still a tug of war between the bulls and the bears,” “The bears are saying, ‘I want to take profits when they come my way,’ and yesterday they came in a big way,” said Sam Stovall, chief investment strategist at Standard & Poor’s equity research. The dollar fell against other currencies because investors guessed that the Fed’s debt bail-outs and interest-rate policy would make dollar very weak. It was a 13-year low compared to the Japanese yen on Wednesday.

We are kind of in trouble with the bail-outs. We need to stop bailing everyone out. It is getting to be too much. We are already in debt to so many countries. Getting out of that kind of debt is very difficult. With the o% interest it is not going to be making much money. Money is not what we have much of right now.

Current Event Stocks

Tyra Monger
12/18/08
Business Economics

Current Event

This week I did my current event on the stock called First Solar. First solar is a company that is focused on solar power made of a thin film semiconductor technology. They have long-term solar supply contracts with 12 European project developers and system integrators. The customers run and operate the plants. They are owners of land, agricultural buildings, commercial warehouses, offices, industrial buildings, public agencies, municipal government authorities, utility companies, and financial investors. That desire to have a big plant ran by solar power.

I think that solar power is going to be getting very popular because of the environment. People are becoming more environmentally conscious. Solar power makes it so that we are not using coal and other natural resources that are becoming harder to get. That is because of the supply and demand. It will become more common to see solar powered buildings.

Stock market 2

Tyra Monger
12/11/08
Business Economics

Current Event

This week I read about stocks and bonds. The article was written on the New York Times. It was written By Michael M. Grynbaum at 11:00 on December 10, 2008. Treasury bonds still stayed to the lowest numbers for both short- and long-term notes. The Treasury had a 10-year bill that gained to 2.68 percent. On Tuesday it was up from 2.64 and that moved it opposite from the yield. Investors “snapped” $30 billion of four-week bonds for zero-percent. They guaranteed that there would be absolutely no return on their money. Energy stocks had the highest gains. Chevron gained 3.8 percent and Exxon Mobil went up 2.4 percent. Democrats and Bush are trying to agree to extend the $14 billion in loans to General Motors and Crysler, the two biggest auto making companies.

I think we are in huge trouble and are going to get out of this in like 2009. Or even 2010. It is going to be hard to get all of that money back up

http://www.nytimes.com/2008/12/11/business/11markets.html?_r=1&scp=3&sq=stocks&st=cse

Dow Drops

Tyra Monger
12/1/08
Business Economics
Current Event

This week I read about the stocks from Dow dropped to 680 points. The article was written by Michael M. Grynbaum 37 minutes ago at 2:45 pm on December 1st 2008. It is said that a recession is going to be coming. Some things that are saying we are going toward a recession are slower production, unstable wages and the highest number of lost jobs. National Bureau of Economic Research waited until now to say it. Wall Street has been on the verge of problems for many months now. The main banks have dropped almost 20 percent each one of them. Oil expects that in January the delivery price will be $49.34 barrel, down $5.09. Mutual fund managers are taking this as a moment to buy these stocks that are so low. 300,000 jobs might be cut in November. It is said to take years to drop about 8 years, but in the fall companies dropped that much in one day. “A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.” “A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough,” the members said in a statement. The US was in a recession about a year ago. The manufacturing industry had its worst month since 1982.

I think that we will just have to figure this out. We really are on our way to a recession. After this war we are so much in debt. Mostly to China, but to other countries we are in debt as well. To get out of the recession is probably not coming any time soon. It might not even be in my lifetime. That would be really bad.

Stock Market

Tyra Monger
11/20/08
Business Economics
Current Event

This week I read about the US shares falling to a five year low. It was written on Wednesday November 19, 2008. The author is unknown. Wall Street dropped more than 5% on Wednesday to its lowest level in over five years on rising economic worries. After 61 years the consumer price it dropped to the worst, and it is predicted that the economic growth will soon cease. ‘Economists say that this rapid fall in consumer prices has given the US central bank the room it needs to cut interest rates to battle the economic slump’ (Cite BBC News) "It's certainly the Fed confirming what the market has realized - that the recession is here," said Bruce Zaro, of Delta Global Advisors in Boston. (Cite BBC News) Dow Jones averaged at 427 points to get 7,997.28, below the level for the first time since 2003. For three months now gasoline prices have been falling. This is a good thing. Republicans at the White House are opposed to aid for the car industry especially after the $700bn bank bailout. ‘Citigroup shares tumbled 23% to a new 13-year low. This week the firm announced it was shedding 53,000 more jobs. Its shares have lost 53% of their value in November.’ (Cite BBC News)

I think that we are in a big hole and to get out we are going to have to work really hard. After loaning 700 billion dollars to get that much money back is difficult. Since we are in so much debt to China. They will control. Losing so many jobs will put millions of people out everywhere.

Current Event

Tyra Monger
11/6/08
Business Economics

Current Event

This week I read about the world, mostly Africa unanimously celebrating because Obama won the Presidential election. It was written by the associated press at the Chicago Sun Times. It was done on November 6, 2008. In the article it states that this election seals America’s reputation as a land of staggering opportunity. The Kenya president had a public holiday where Obama’s father had lived. Many countries said that they were shocked that the United States could come away from many centuries of racial strife. “I think this is awesome that the whole world is backing him,” Nidimu said as people raised their glasses of champagne to toast his success. Obama was born in Hawaii and was raised by his white mother. He barely knew his father at all. Liberian president Ellen Johnson-sirleaf, the first woman elected to head an African country, said that she did not expect to see a black American president in her lifetime.
I think we can a far way electing a black president, but he is pretty much whiter than us except his skin is a different color. His affiliation to Africa is a little scary though. He better not screw us over or everyone is going to be so mad. He better just be careful to who he connects with.

Current Event

Tyra Monger
10/31/08
Business Economics
Current Event
Week Ten

This week I read about the Investors losing faith in Citigroup. Analysts speculate that the nations’ fourth largest bank needs to make a deal or something in the near future. It was written by David Ellis. It was written on October 29, 2008 at 2:21 pm. The banks stocks have dropped about 15%. The Bank of Treasury gave Citigroup a loan of $25 Billion. The bank is at a 52 week low, and has never been this low for this long. Many banks have bought other stocks and benefits from other banks. Like Wells Fargo is planning on buying all of Wachovia’s banking operations.
I think that all of the banks are being a little either immature or I guess really dumb with their decisions in their markets. They are losing so much money. If you add up all of the loans that they have given to people that they knew were not going to pay them back, is probably over like billions of dollars!!! It’s totally retarded and dumb. So we need to think about our banks.