Friday, December 5, 2008

U.S. Economic Data Is Much Worst Than Expected.

Since the beginning of the new introduction trading system being implemented on Bursa Malaysia, our share market have been experiencing a decline in volume. Not only that, no matter whether the Dow Jones Industrial Average is moving up or down still our share market reacted negatively for the whole trading day.

A check on this week movement shows that most of the counters are starting to show more weaknesses rather than stabilizing. A look on Top Ten volume traded today - Resorts World Berhad, KNM Berhad, TM International Berhad, Ramunia Berhad, Genting Berhad and AirAsia Berhad are trading at their lows.

This is not a good sign but still we need to wait and monitor the whole situation. I can't really give any suggestion right now as there was no strong indicator stated that it was a right time to make an entry.

A latest news released by Yahoo Finance. Oil prices were near four-year lows below USD 44 a barrel Friday in Asia as more bad U.S. economic news soured the outlook for global growth and demand for crude. The data released shows that the damage to the economy by the financial turmoil is much bigger than the market initially thought. The economic data now is much worse than what an analyst expected a few months ago.

Oil prices have fallen about 70 percent since peaking at USD 147.27 in July. Dismal economic data in the U.S., pointing toward a sharp contraction of gross domestic product in the fourth quarter and weakening demand for crude products, such as gasoline. Now some analyst expecting the crude oil seems headed below USD 40 a barrel.

The government of U.S. said the number of people continuing to claim unemployment benefits last week reached 4.09 million, the highest level since December 1982, while the proportion of workers receiving benefits matched a level reached 16 years ago, in September 1992.

Factory orders plunged a bigger-than-expected 5.1 percent in October caused by big cutbacks in demand for steel, autos, computers and heavy machinery. It was the largest decrease since an 8.5 percent fall in July 2000.

Investors will be eyeing the Labor Department's November unemployment report on Friday (today), which economists expect will show that the jobless rate rose to 6.8 percent and that companies cut another 320,000 jobs. Like it or not but this is the facts that we need to face what really happen in the U.S. economies. These numbers will really have an impact towards the Dow Jones Industrial Average.....

Photo of Taiwan Actress and Model : Kelly Lin Xi Lei. She was hailed by FHM as "Asia's Sexiest Woman" in 2002. Date of birth: 29.10.1975


alexlee said...

US or even world market are not interesting at these moment but picture of Kelly is...haha

Photographer RAZAK RAMLI said...

23/12/2008 saya ke MTD.
Nostalgia buat saudara.