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Super Tuesday is Terrible Tuesday for Stock Market
The American public is busy trying to figure out what all these polls mean about who is going to be their partys candidate. Meanwhile, Super Tuesday has turned out to be Terrible Tuesday for the stock market. Todays news that service sector shrank sent stocks in the wrong direction.The volatility that pummeled stocks in January returned with the news that the service sector shrank last month for the first time since March 2003. The report from the Institute for Supply Management wiped out the nascent optimism about the economy that had sent stocks surging higher last week.The report drives a nail into the coffin from investors minds that were in a recession, said Todd Salamone, director of trading at Schaeffers Investment Research. That doesnt mean stock prices in the months ahead will be lower. But when you see headline numbers like this, there tends to be a reactionary sell.The ISM said its index of service sector activity, which accounts for about two-thirds of the economy, dropped below 50, a level that indicates contraction. Economists had expected another month of growth.Its possible the service sector, which includes businesses ranging from restaurants to retailers to banks, could bounce back in February as the manufacturing sector did in January after its December contraction. The benefit of the Federal Reserves two big interest rate cuts in the latter part of January could also help spur the service sector back into growth mode later this year.Marketwatchs entry says the data today is pointing toward a recession.Todays awful numbers:Dow down 370.03 2.93% - biggest one-day point drop for Dow since it dropped 387 points on Aug. 9, 2007.Nasdaq lost 73.28 3.08%Standard and Poors 500 lost 44.18 3.20%Permalink | Recent Headlines | WWFeeds.com

Oppenheimer sees dividend cuts at Citi, Wachovia, others - MarketWatch
EarthtimesOppenheimer sees dividend cuts at Citi, Wachovia, othersMarketWatch - 1 hour agoBy Andrew Dowell , , will likely have to announce dividend cuts next month, as shrinking earnings will make it hard to support current payouts, Oppenheimer analyst Meredith Whitney said Friday in a note to clients.RPT-UPDATE 1-Oppenheimer sees dividend cuts at Citi, Wachovia ReutersAhead of the Bell: Bank Dividends CNNMoney.comBloomberg - Forbes - BusinessWeek - Houston Chronicleall 103 news articles

JC Penney Plunges After Cutting Profit Forecast (Update1) - Bloomberg
CNBCJC Penney Plunges After Cutting Profit Forecast Update1Bloomberg - 1 hour agoBy Lauren Coleman-Lochner March 28 Bloomberg -- JC Penney Co., the third-largest US department-store chain, plunged the most in more than 20 years in New York trading after the retailer cut its sales and earnings forecasts on slower consumer spending ...JC Penney cuts first-quarter forecast MarketWatchJP Penney Slashes Guidance, Wall Street JournalReuters - CNNMoney.com - Conde Nast Portfolio - RTT Newsall 112 news articles

CARB cuts zero emission vehicle requirement - Bizjournals.com
PhysOrg.comCARB cuts zero emission vehicle requirementBizjournals.com - Mar 28, 2008The California Air Resources Board voted unanimously Thursday to slash its previous requirement for auto makers to produce 25000 zero emission vehicles between 2012 and 2014 down to 7500 vehicles.California Lowers Auto Emissions Rule The Associated PressAir board trims mandate for zero-emission cars San Jose Mercury NewsDetroit Free Press - Los Angeles Times - United Press International - Telegraph.co.ukall 603 news articles

Gold Soars to 27-Year High
Gold prices are climbing as the dollar falls. The Financial Times reports that Gold prices climbed to $752.80 an ounce - the highest price for gold since January 1980.The dollar hit a record low against major currencies and gold reached a 27-year high on Friday as investors ignored data suggesting that inflation moderated last month.Analysts said the prospect of rate cuts by the Federal Reserve and stronger growth outside the US was weighing on the dollar and boosting commodities.The Feds rate cuts have a specific driver - growth risks for the US economy, said Naomi Fink, senior currency strategist at BNP Paribas.A USA Today article about todays new gold record has a chart that shows how investors have been seeking shelter in gold over the past two months.Permalink | Recent Headlines | WWFeeds.comVisit ShoppersShop.coms Halloween Shopping Website to find costumes, coupons and resources.

Air France Refuses to Budge on Job Cuts at Alitalia (Update1) - Bloomberg
CitizenAir France Refuses to Budge on Job Cuts at Alitalia Update1Bloomberg - 1 hour agoBy Flavia Rotondi and Andrea Rothman March 28 Bloomberg -- Air France-KLM Group, Europe's biggest airline, refused to back down on plans to cut 2100 jobs at takeover target Alitalia SpA in a document submitted to the Italian company's unions.Air France-KLM sticks to its guns in Alitalia talks MarketWatchAlitalia unions critical but won't boycott talks ReutersCNNMoney.com - International Herald Tribune - BBC News - Wall Street Journalall 279 news articles

Jobs Report Shows Weakening Economy
Yesterdays jobs report told a tale of weakness. The U.S. economy lost over 60,000 jobs in the short month of February and over 20,000 jobs in January. An AP article says the pink slips have increased and some economists hear the recession bell ringing.The grim snapshot of the countrys employment climate underscored the heavy toll the housing and credit debacles are taking on companies, jobseekers and the economy as a whole.It sounds like the recession bell is ringing for the U.S. economy, although it is still faint, said Stuart Hoffman, chief economist at PNC Financial Services Group.On Wall Street, stocks tumbled. The Dow Jones lost 146.70 points, a little more than 1 percent to close at 11,893.69. The Dow was down 370 for the last two days of the week.The worsening situation will prompt the Federal Reserve to cut a key interest rate deeply -- perhaps by as much as three-quarters of a percentage point -- at its next meeting March 18, or possibly sooner, to help brace the teetering economy, analysts predicted.The shower of pink slips was widespread. Factories, construction companies, mortgage brokers, real-estate firms, retailers, temporary-help firms, child day-care providers, hotels, educational services, accounting firms and computer designers were among those shedding jobs. All those cuts swamped job gains at hospitals and other health care sites, bars and restaurants, legal services and the government.President Bush was quick to reassure everyone that the economy is not in a recession. Bush said, I know this is a difficult time for our economy, but we recognized the problem early and provided the economy with a booster shot. We will begin to see the impact over the coming months.Less and less people are expecting the quick recovery that President Bush is. With the DOW falling under the 12,000 mark Friday next week could be a difficult one.Permalink | Recent Headlines | WWFeeds.com

Gold Passes $1,000 Mark
Gold traded at a record $1,000 an ounce for the first time today. The news coincides will the recession concerns, the weak dollar and the high price of oil. The BBC reports that since the beginning of 2008 gold has jump 20%. Gold also climbed 32% last year.Since the beginning of the year the value of gold has increased by about 20%, after it rose 32% in 2007.Gold eventually settled for the day at $993.80, up $13.30 an ounce.Analysts say gold will stay high as long as dollar and growth fears remain.Every bit of bad US economic data boosts gold in two ways, said Fortis Bank.First because it reinforces the return of its role as a safe-haven asset, and second because the dollar falls on expectations of further Federal Reserve rate cuts.The price of gold story made all the major newspapers and wire services: Reuters, Guardian, The Independent, Forbes, National Post, USA Today, Financial Times, Wall Street Journal, Telegraph.co.uk, Bloomberg and New York Times to name a few.A 52% climb in just twelve months might mean gold has climbed too quickly notes USA Today columnist John Waggoner here.If youre hankering to buy gold, you may get a chance to buy it more cheaply in the next month or so. Gold bullion has soared 52% over the past 12 months and 19% this year ? and it may have gotten ahead of itself. But if you want to invest for the long run in gold ? which can have a role in a diversified portfolio ? you have three good options: gold bullion coins, gold exchange-traded funds and gold mutual funds.Then again, Waggoners column also mentions that James DiGeorgia - editor of the Gold and Energy Advisor website - says gold could climb to $2,500 an ounce.Permalink | Recent Headlines | WWFeeds.com