The Dow slumped 264.26 points, or 1.5 percent, to close at 16,945.80. The Nasdaq composite, which is dominated by technology companies, dropped 88.47 points, or 1.9 percent, to 4,466.75. It was the worst day for all three indexes since July 31. Technology companies were hit hardest. Apple dropped nearly 4 percent following its announcement late Wednesday that it had pulled a software update which prevented users from making phone calls. Others complained that they bent their new iPhones by sitting on them. Apple lost $3.88 to $97.87 in heavy trading. http://www.charter.net/news/read/category/Asia%20News/article/the_associated_press-global_stocks_higher_as_us_data_boost_sentiment-ap#.VCSFhJibRmg.twitter
GOLD BARS AND COINS For many investors, buying physical, touchable gold is attractive on a visceral level. They know they have a hard asset at their fingertips that will surge in value should the world go to hell in a handbasket. Fact: Banks will hold your gold for you in registered, insured vaults at a cost of about 1.5 per cent of the gold's value per year. Or you can hold your gold yourself - a safety deposit box at a bank is advisable, and you can get one for under $100 a year. Whether you keep your gold in a safe deposit box or at home, you'll want to be sure it's covered under your home insurance. If the amount of gold is large, it will mean additional insurance premiums, though insurers charge a lot less if they know you keep it in a safety deposit box. If you hold larger bars yourself, you've removed them from the world's registered storage system, which means their purity can no longer be guaranteed. You'll have to pay to have them melted down by an authorized refiner, re-poured and audited for quality before you can sell them.
He said the money that investors poured into stocks when the index crossed above that mark could be pulled out. "You could get people wanting to liquidate," Strazzullo said. "If you go below 1,950, the market can easily correct 10 percent, maybe more." The dollar has been gaining on other major currencies as traders expect the Federal Reserve to start raising its key interest rate next year. The world's other major central banks are expected to sit tight or take other steps likely to weaken their currencies. On Thursday, the euro fell 0.2 percent to $1.275. The dollar fell to 108.73 yen. http://www.wral.com/global-stocks-higher-as-us-data-boost-sentiment/14014614/
home sales knocked the market back on Monday, giving the S&P 500 its biggest one-day drop http://allafrica.com/stories/201409220318.html in more than a month. Health-care stocks led a rebound Wednesday, as the S&P 500 closed with its biggest one-day gain in more than a month. ECONOMY: Claims for unemployment benefits crept up last week. The Labor Department said 293,000 people applied for benefits, but that was slightly lower than economists' forecasts. The less volatile four-week average fell for the second straight week to 298,500. A separate report said businesses orders for equipment plunged last month, mainly a result of a drop in orders for commercial aircraft. FURTHER CLUES: Investors have been looking at economic reports for any signs that the improving economy could lead the Federal Reserve to start raising interest rates. Next week, further clues will emerge from a several key pieces of data, including the job market report for September. ONE VIEW: "The existence of major fundamental risks next week means that there is some caution ahead with many unsure of the direction that markets should be heading," said Joshua Mahony, research analyst at Alpari. LOOKING ABROAD: In Europe, Germany's DAX fell 1.1 percent while the CAC-40 in France fell 0.8 percent. The FTSE 100 index of leading British shares also declined 0.8 percent. http://www.latimes.com/business/la-fi-wall-street-open-20140925-story.html
rates and the rising dollar. Bonds rallied against a swift drop in stocks, and dollar traders said a Wall Street Journal report on changes in the leadership of China's central bank added an edge of uncertainty, leading to selling in risk assets and further firming of the greenback and Treasurys. Read More Cashin: Markets seeing broad selling After a bounce back Wednesday, stocks sank and the S&P 500 dropped more than a percent, while the Dow lost more than 200 points in the worst trading day since late July. Stocks have also been primed for a sell off with triple-digit losses in the Dow on Monday and Tuesday. The Russell 2000 , viewed as an early warning for overall market weakness, fell 1.5 percent Thursday to 1,110 and was down 4.2 percent on the week. Traders pointed to no one reason but said a morning story on a Russian draft law that would allow the seizure of foreign assets made the rounds on bond and stock desks, as equities selling accelerated. The German DAX fell below its 200-day average, which it has not closed below since early http://in.reuters.com/article/2014/09/22/aldermore-bank-ipo-idINL6N0RN0O920140922 September, and also weighed into a nervous stock market. Read More Russian draft law to allow seizure of foreign assets Both the Russian news, which traders fear could impact Europe's economy, and uncertainty in China play into the biggest fears of slowing global growth at a time when the U.S. Fed is moving away from stimulus and looking toward higher rates. Read More Fed's Fisher: Rate hikes sooner rather than later Dallas Fed President Richard Fisher reinforced that notion well ahead of the market open Thursday, when he said the Fed could move to raise rates in the spring of 2015. The consensus has been for a hike in June 2015. http://www.cnbc.com/id/102032946