| nell |
Posted
on 15-Mar-03 07:51 PM
At the brink of war, US industrialist believe that the war would not hamper any kind of increase in stock market as the Dow Jones yesterday posted their highest increase by 270 points. An overwhelming increase when one considers a US led invasion of Iraq is likely to go ahead in under a week. It is a total surprise while the market was falling down hard and heavy for Dow.
While French President Jaque Chirac opposses any kind of British tactics in giving Iraq a resolution, things have heated up with two elite nations and bringing down possibility of an increase in stocks held by French industrialist here in the US. The Florida and Wash. cafe' are sufferring a heavy loss during the weekend where usually it would overflow with customers so has hapenned in California and NY.
So has the customers abandoned the Francais' and have headed towards US stocks? I have a strong opinions towards this shift and if you ask me, it is extremely pathetic and obnoxious decision by the people. Talking about people, they have the opinions that the Bush administration's decision to invade Iraq is highly influenced by the Jewish community at the top level, horrible thing to say, really.
I will now ask the Sajha community to provide their double cents on the subject.
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| Prem Charo |
Posted
on 15-Mar-03 08:09 PM
Nell said: "At the brink of war, US industrialist believe that the war would not hamper any kind of increase in stock market as the Dow Jones yesterday posted their highest increase by 270 points."
Reasons can only be speculated about. At this point, with all the vagaries, and turmoil in the world, it seems that equilibrium is in the 10,000 range for the Dow Jones Industrial Average. In my opinion, this makes sense. Let's continue to perceive the Nasdaq, and to a lesser extent the S&P 500, as overpriced. These indices are dominated by the tech industries. For Microsoft, Intel, Cisco, Dell, and to a lesser extent Amgen, which make up the top five companies in the capital weighted Nasdaq, and which are also in the top 40 in the S&P, are all over priced. Until these stocks reach in what we perceive as justifiable prices, they will continue to act as anchors on the overall markets. In my opinion tomorrow lies in the more rationally priced Dow stocks:-)
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