Check back here often for the latest news as delivered by TradeRoots.
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ALCS notes Trade's been pretty nice to Gross
Oct 11, 2008 — Milwaukee Journal Sentinel
Tom Haudricourt Oct. 11, 2008 (McClatchy-Tribune Regional News delivered by Newstex) -- ST. Ned was there through the rebuilding process. "From a personal standpoint, it was tough that he wasn't there to see it through.
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Area firms get swept up in credit-crunch crisis
Oct 11, 2008 — The Blade
Even shares of insulation maker Owens Corning (NYSE:OC) (NYSE:OC WSB) aren't in the pink.
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Capitulation!
Oct 11, 2008 — Chicago Sun-Times
But capitulation will have rousted the last of the fraidy-cats. Health care stocks have aging demographics on their side. Think of a company such as Ameren (AEE), whose shares are trading at an eight-year low.
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Chamber Trade Show set for Thursday
Oct 11, 2008 — The Paducah Sun
Major event sponsors include Murray State, Rene' Advertising, West Kentucky Community and Technical College, Humana (NYSE:HUM) , Atmos Energy, and Medical Spa 7. The public is invited to attend. The show features delicious food from some of the areas most popular restaurants, door prizes -- including a $500 gas card -- plenty of swag and music by DJ Urban Kobbb.
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China May Let Peasants Sell Rights to Farmland
Oct 11, 2008 — New York Times
Rural land disputes are perhaps the biggest source of social unrest in China. Many party traditionalists strongly favor collective land ownership. China allows urban residents to trade or sell their land-use contracts freely.
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Stocks plunge for an 8th day
Oct 11, 2008 — Arkansas Democrat Gazette
Eleven stocks fell for every 10 that rose on the New York Stock Exchange. The gap shrank 3.5 percent to $59.2 billion, close to economists’ forecasts. Exports fell to the second-highest level on record.
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U.S., India sign nuclear trade deal
Oct 11, 2008 — Telegram & Gazette
India has faced a nuclear trade ban since its first atomic test in 1974 and has refused to sign nonproliferation accords. Opponents in the United States say the extra fuel the measure provides could boost India’s nuclear weapons stockpile by freeing up its domestic fuel for use in weapons. Bush and Prime Minister Manmohan Singh announced their intention to pursue nuclear cooperation in July 2005.
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Whiplash Ends a Roller Coaster Week
Oct 11, 2008 — New York Times
VIKAS BAJAJ For three straight days, the stock market collapsed in the last hour of trading. She brought her unopened statement to John Leis, a director of personal financial solutions at the company. Ian Austen, Vikas Bajaj, David Stout and Bettina Wassener contributed reporting.
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'Wholesale panic' drives Dow down 678 points to 5-year low
Oct 10, 2008 — Milwaukee Journal Sentinel
The Dow dropped 678.91 points, or 7.3 percent, to 8,579.19. The problem is historic, the solutions are historic, and unfortunately, the sell-off is historic. Leverage magnifies what's happening," Callen said. Hedge funds are driving a lot of the selling, Callen said.
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A look at what happened yesterday in some markets
Oct 10, 2008 — Telegram & Gazette
The RTS index — widely seen as the economic benchmark — gained 10.9 percent to close at 844.7 points. The decline was mostly driven by Novartis AG dropping 6.6 percent and Roche Holding AG closing down 7.7 percent. The Shenzhen Composite Index of China’s smaller, second market lost 1.4 percent to 562.61.
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Asian, European Stocks Plummet
Oct 10, 2008 — Washington Post
The Bank of Japan added another $45.2 billion dollars to the liquidity of Tokyo money markets. Rapidly falling stocks on Friday forced a brief suspension of some trading in Tokyo and Osaka. Elsewhere in Asia, Indonesia, which had halted stock trading earlier this week after market values fell 10 percent in one day, suspended trading indefinitely on the Jakarta Stock Exchange, according to the Associated Press.
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August trade deficit falls to $59.1 billion
Oct 10, 2008 — Detroit News
August trade deficit falls to $59.1 billion Martin Crutsinger / Associated Press WASHINGTON -- The U.S. trade deficit edged down slightly in August, reflecting a drop in foreign oil from record levels. The Commerce Department said Friday the trade deficit declined by 3.5 percent in August to $59.1 billion. The drop reflected both lower shipments and oil prices.
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August trade deficit falls to $59.1B
Oct 10, 2008 — Chicago Sun-Times
Comments WASHINGTON -- The U.S. trade deficit edged down slightly in August, reflecting a drop in foreign oil from record levels. The Commerce Department said Friday the trade deficit declined by 3.5 percent in August to $59.1 billion. The drop reflected both lower shipments and oil prices.
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Dollar climbs on global market rout
Oct 10, 2008 — CNN
The pound's weakness comes as investors remain wary of higher-yielding currencies and appear to favor less risky trades involving the U.S. dollar and the Japanese yen. The dollar traded at ¥99.19, up from ¥98.87. A sharp selloff in European markets kept currency traders on edge.
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Dow falls 679 points in final-hour plunge
Oct 10, 2008 — Telegram & Gazette
That’s based on preliminary figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies’ stocks and represents almost all stocks traded in America. GM led the Dow lower, falling $2.15, or 31 percent, to $4.76, while Ford fell 58 cents, or 22 percent, to $2.08. The S&P 500 fell 75.02, or 7.62 percent, to 909.92, while the Nasdaq composite index fell 95.21, or 5.47 percent, to 1,645.12.
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European markets plunge again; Nikkei plummets
Oct 10, 2008 — Pittsburgh Tribune Review
In Japan, the benchmark Nikkei 225 index in Japan 881.06 points, or 9.6 percent, to 8,276.43, its lowest closing level since May 2003. South Korea's Kospi closed down 4.1 percent, while the Shanghai Composite Index posted a more moderate decline of 2.8 percent. And in Indonesia, authorities suspended trading indefinitely on the Jakarta Stock Exchange after they had halted trading Wednesday after the index plunged more than 10 percent.
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European stocks keep tumbling
Oct 10, 2008 — Los Angeles Times
Kenji Akasaka, 69, president of a local printing company, said he had never seen it this bad in the 40 years he has traded stocks. South Korea's Kospi closed down 4.1 percent, while the Shanghai Composite Index posted a more moderate decline of 2.8 percent. And in Indonesia, authorities suspended trading indefinitely on the Jakarta Stock Exchange after they had halted trading Wednesday after the index plunged more than 10 percent.
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Fall bazaar preview Festivals for all styles, tastes
Oct 10, 2008 — The Miami Herald
Andrew Greek Festival will dish up gyros, lamb, sausages and other Greek delights. Andrew Greek Festival takes place 11 a.m. to 11 p.m. Nov. 21-23 at St. Call 305-595-1343. In Miami Beach, St.
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GM up 3 percent, while Ford drops below $2
Oct 10, 2008 — Detroit News
Investors remained still deeply uncertain about the future viability of both Ford and GM. GM spokeswoman Renee Rashid-Merem said in a statement Thursday that "bankruptcy protection is not an option GM is considering. After the 1929 stock market crash, GM's market cap was $4 billion.
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GM, Ford stock rebounds slightly
Oct 10, 2008 — Detroit Free Press
...title="Exec. Vice President and CFO, FORD MOTOR CO (Newstex ID is 1190848)" NewstexID="1190848">Don Leclair, its CFO. GM's stock was trading at $4.99, up 23 cents or 4.8%, at 12:01 p.m. and Ford's trading at $2.17, up 9 cents or 4.3% at 11:54 a.m. But other stocks of local importance struggled. Lear Corp. (NYSE:LEA) was trading at $6.38 per share, down 91 cents or 12.5% at 12:10 p.m. while Comerica Inc. (NYSE:CMA PRZ) (NYSE:CMA) was trading at $22.49, down 23 cents or...
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Iceland, in Financial Collapse, Is Likely to Turn to the I.M.F.
Oct 10, 2008 — New York Times
“Iceland is bankrupt,” said Arsaell Valfells, a professor at the University of Iceland. Haarde acknowledged that international trading in the currency had essentially ended. One option would be to simply peg the Icelandic currency to the euro.
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In Mexico, Dallas Mayor Tom Leppert says it's time to lay groundwork for better economic times
Oct 10, 2008 — The Dallas Morning News
But you still have to lay the foundation for the future," Mr. Leppert said Houston and San Antonio have done a better job promoting themselves in Mexico, and that's why Dallas needs to step up. Leppert led a trade mission to Mexico City and Monterrey.
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In this rough market, day traders play it safe::
Oct 10, 2008 — Newsday
...quickie traders will be "a little reluctant to get into certain markets."Greg Legakis, 48, of East Northport, N.Y., agreed. He has been a day trader off and on for about three years, but said "I'm tiptoeing back in." Legakis, who on weekends is also a self-employed DJ, lost about $4,000 in a single trade about a week ago.Many day traders have come to predict market swings using algorithms -- computer codes that automatically execute trades. But these codes were written for earlier...
