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Archive for the ‘Dow 30’ tag

How the Dow 30 stocks fared in 2008

The only stocks up for 2008 were the notably non-industrial McDonalds and Wal-Mart (well, they are in the industries of producing fat kids in the U.S. and skinny ones in China living on the scraps from their parents’ sweatshop wages). Reuters provides the whole list.

The corporate giants on this list belie the notion that the market really knows what companies are worth. It’s absurd to think Microsoft is worth 45.4 percent less than it was a year ago — either the market is fundamentally wrong today or it was wrong 45.4 percent ago.

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Tom Mangan posted at 8:37 am January 2nd, 2009 |

Hold on to your hats, folks

Senate Republicans balked at bailing out the Big Three automakers, so for now the rescue package is dead. Asian markets were cratering last time I looked.

Cat may be the least punished of the Dow 30 by the time the smoke clears — after all, the huge stimulus packages in the U.S. and China should prove a kindness, whereas nobody knows where the demand for all of GM and Chrysler’s gas guzzlers is coming from.

Of course GM’s been pummeled so badly that it might not be able to fall far enough to push the Dow too much, and now and again huge international sell-offs trigger rallies by the time Wall Street wakes up. My hunch is it won’t be one of those days.

Latest from:

Wall Street Journal.

New York Times.

Detroit Free Press | Detroit News

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Tom Mangan posted at 11:23 pm December 11th, 2008 |