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November 7, 2013
11:34 // 8 months ago
September 10, 2013

On Bank Of America’s Removal From The Dow Jones

stupidlittletuftybeard says: Slumping stock performance from Bank of America? What the hell are they talking about?

» SFB says: While graphs of several recent time periods (6 months1 year) would give the impression that Bank of America is performing strongly on the market, the company isn’t performing so hot when compared to the five-year turnaround of other prominent American banks like Capital One and/or new DI member Goldman Sachs. Both of those companies, along with a number of other financial organizations, have seen their shares return (and in many cases, surpass) their values just before the “Great Recession”. Meanwhile, though Bank of America has been trending upward for several years, the company still remains well below fifty percent of its pre-Recession value. Given that the Dow Jones is meant to be a semi-accurate indicator of the market’s strength on any given day, if we had to guess, we’d assume the people in charge of this particular decision likely realized that using one of the banking sector’s worst performers wasn’t the best way to get the job done.—Scott @ SFB

Editor’s note: Not that you would, but don’t use this commentary as stock market advice.

19:35 // 10 months ago

Major changes coming to the Dow Jones Industrial Average before the end of September

  • In Goldman Sachs, Visa and Nike have been added to the Dow Jones industrial average, replacing several poorly performing companies from the exclusive group of 30 publicly-owned corporations. The new Dow Jones additions are also expected to diversify one of the most-commonly used gauges of the U.S. stock market.
  • Out To make room for the new arrivals, Alcoa, Hewlett-Packard and Bank of America have been removed from the Dow, following consistently slumping stock performances from each. The changes are set to take effect on September 23, and represent the largest alteration of the Dow Jones line-up in roughly a decade. source
14:12 // 10 months ago
June 13, 2013

What’s two seconds between traders? A lot, really

  • two the advantage, in seconds, that Reuters is giving its high-value, “low latency” financial data customers by sending along a widely-cited economic statistic on consumer confidence. It may not sound like a lot of time, but since the stock market is almost entirely computerized at this point, that’s enough time to fit in a ton of automated trades. As you can imagine, it’s drawing controversy. Most people can’t even pick up an Oreo in that amount of time. source
16:08 // 1 year ago
In its first shot against the bow against the Business Insider audience, BuzzFeed literally writes an article that’s so fetch. Move over Financial Times, BF is gunning for your readership.

In its first shot against the bow against the Business Insider audience, BuzzFeed literally writes an article that’s so fetch. Move over Financial Times, BF is gunning for your readership.

15:05 // 1 year ago
May 7, 2013

Dow Jones sets new record high

  • 15k+closing mark for the Dow Jones today, setting a new record. The markets have been surging of late, with the Dow up nearly 2,000 points in 2013 — that’s the fastest start to a year since the tech-bubble boom times of 1999. source
19:20 // 1 year ago
April 23, 2013

The average American household lost net worth during ‘09-‘10 recovery

  • 93of American households lost net worth during the ostensible economic recovery from 2009 to 2010, according the Pew Research Center. Those households lost an average of 4% of their net worth over that period of time. Those who made out with an increase in net worth were the 7% richest households in the country, thanks to a recovery more robust for the stock market, financial investments and corporate profits than for housing or employment. source
20:00 // 1 year ago
December 28, 2012

DBstep - NASDAQ Dubstep

Because why not? Here’s a dubstep tune created based on NASDAQ trading volume, along with Apple’s performance against the market, since 2009. The wobblier it gets, the more volatile the market. (ht Hacker News)

22:45 // 1 year ago
October 28, 2012
breakingnews:

New York Stock Exchange to close trading floor, trade electronically for storm
Bloomberg News:

The New York Stock Exchange said it will shut its trading floor starting tomorrow and invoke contingency plans to move all trading to NYSE Arca, its electronic exchange, as Hurricane Sandy heads toward the city.

Photo credit: Scott Eells / Bloomberg 

Translation: Our financial system will continue moving without a physical presence.

breakingnews:

New York Stock Exchange to close trading floor, trade electronically for storm

Bloomberg News:

The New York Stock Exchange said it will shut its trading floor starting tomorrow and invoke contingency plans to move all trading to NYSE Arca, its electronic exchange, as Hurricane Sandy heads toward the city.

Photo credit: Scott Eells / Bloomberg

Translation: Our financial system will continue moving without a physical presence.

17:38 // 1 year ago
October 20, 2012

thedailyfeed:

Oops! Google hit “send” a little too early yesterday, causing a massive market blunder.

In a matter of minutes, the search-engine giant shed almost $20 billion in market value when R.R. Donnelley & Sons, the company in charge of its financial filing, published Google’s disappointing earnings report hours ahead of schedule.

The announcement would have weighed on the stock anyway, but releasing the news when markets were open spurred a frenzy of bearish trading. Stock market operators have built-in circuit breakers for shares that swing wildly, but Google reportedly requested that Nasdaq freeze its shares, which the platform did briefly.

“(Google) doing a Felix Baumgartner,” tweeted Joe Donohue, a professional investor using the handle @UpsideTrader.

The precision and care that must go into protecting a publicly traded company’s market value is nothing short of amazing, and not just because of the competition — as some poor folks at Google are now reflecting on, one mistake can cause a big hurt.

(via thedailyfeed)

14:13 // 1 year ago