Saturday, December 26, 2009, 6:39PM ET - U.S. Markets Closed.

Stocks Make Half-Hearted Apology for Yesterday

Posted Dec 02, 2008 04:29pm EST by Joseph Weisenthal in Investing, Recession, Banking, Autos

From ClusterStock, Dec. 2, 2008:

After yesterday's horror show, the stock market battled back with the major averages gaining between 3%-4%. For a few moments there, it looked like the wheels were going to come off, early in the afternoon after GM threw a wet blanket on the party with its November sales report.

Financials made up ground, but again, not nearly all of yesterday's losses. The big loser in the bunch: Goldman, which didn't recover from the blockbuster story that it could lose $2 billion this quarter.

GE was a big winner after it affirmed its dividend, its commitment to financial services and its AAA credit rating.

26 Comments

Daniel
Daniel - Wednesday December 03, 2008 10:43AM EST

ryan that would not fix the problem u faile to remember the problem begins where themae n mac have already basically failed and the hoyseing markets are doing so to they need a fast fix to save loans not to get in new ones at this time because of the lost job sector is @ a huge rise when that starts to get better yea then they can do it your way n yes it might work but right now n in a few moths thier will be a huge loss of jobs almost like the great depression we are just starting to feel what is yet to come i sure hope im wrong but it looks bad right not n looks to get worse n 1 other thing what about those people that pay things in cash u cant descrmanate against them that is just not right but they do i got a good score but i save n pay in cash any more because i dont like the intrest they have us to pay i try to cut the middle man out as much as possible by doing in cash it helps heck with the intrest of banks

Crazy
Crazy - Wednesday December 03, 2008 01:31PM EST

It's over, it's not coming back anytime soon.....This is going to make the Great Depression look like a Sunday Picnic. Buy, Guns, Ammo, and Food,(and Gold of course) everything else is BS....don't expect King Obama and his court jesters to pull any rabbits out of their hats, it ain't gonna happen.

Arisian!
Arisian! - Wednesday December 03, 2008 07:35PM EST

Yo, Crazy- maybe you not, man. I got mine already, just in case.

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 03, 2008 08:04PM EST

You would be foolish to miss this rocket. People think we will have a 40% rally ( 40% from 7500 I suppose ) - that makes it 10500 - which matches my prediction too.

Fed Up
Fed Up - Thursday December 04, 2008 08:58AM EST

There's an old axiom " the market will do whatever it has to do to prove the majority of people wrong the majority of the time". Question - what's the majority doing now?

sergio
sergio - Thursday December 04, 2008 10:28AM EST

Instead of the goverment giving up 700 billion in bad loans, why not just let these company's bankrupt, the good loans that are still being payed on, you sell to financial institutions that are still floating above water, then you take the 700 billion and sell loans out to the homes that are empty

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