foreign markets down 5-8%, analysts are saying since the market is going to be closed tomorrow that may add to market uncertainty. Long term, I won't speculate, short term doesn't look good. Oil closed up 6%, thats for one day folks, a pretty substancial move. I've been watching CNBC and it doesn't sound good in regards to the return of trading. The market dropped a few hundred points last week, look for it to do the same. Those are my thoughts at least, after listening to all the financial news. As for long term, depends on Fed, economic numbers, consumer spending, and reaction to current situation. One last thing, some insurance companies down 15% overseas....no explanation needed on that one.
Unfortunately, approximately 50,000 jobs were lost with the destruction of the WTC buildings. No amount of rebuilding is going to replace even a third of those jobs. My prayers go out to those in need.
The economy will survive. The WTC will not be rebuilt. The markets will take a big hit. If you must trade, then buy gold. Do not sell into the panic, but if you have a chance to sell, do so. You will be able to buy again and I think at lower prices.
If we don't rebuild the WTC it looks like they have won. We need to come together and show the world that this will not stop us as a nation. We rebuilt the WTC after the 1993 bombing and if I am correct, we rebuilt the federal building in Oklahoma. We, also rebuilt Pearl Harbor and will rebuild the Pentagon. Dani
I am listening to financial experts analyzing the effects of this catastrophe on our economy, and thus on the world economy. Other countries are nervous that the American consumer will withdraw, and cause further economic decline. I, for one, will put my money where my mouth is. I love this country, I will buy the things I want, I will continue investing in our companies. And if I want to fly somewhere, I will get on that plane. They should have a "consumer confidence day" where we demonstrate to the world how resilient we are.
Some other possible implications (for better or worse): Oil Drilling in Alaska With the (most likely) coming confrontation(s), and over 50% of our oil coming from countries that are not particularly friendly to us, I suspect that gas prices will skyrocket, the extent of our vulnerability to those countries will be driven home, and that arguments about grass lands and herds of elk will have a harder time carrying the day, as they have up to now. Missile Shield Though it would not have prevented this particular catastrophe, as part of a comprehensive response (Military & Intelligence buildup) it will not seem so crazy or paranoid any more. There can be no doubt that there certainly are bad guys who want very much to hurt us. Business Travel I suspect that there will be a long term decline as business people will suddenly be more ready to adopt technologies that reduce the need for face-to-face meetings. What does this mean to me (from an admittedly crass self centered perspective- my apologies, but someone else started this conversation )? As I recover fromthe tailspin that led me to find this board, I am beginning to invest for the future. I won't be buying any airline/ hospitality stocks real soon (maybe later, after they get beaten to a pulp). The Energy and Defense sectors may bear some investigating as the market falls over the next few weeks. Could be some good long term buys there.
I would add Security related stocks to the list of good long term investments. I am certain we are going to war, defense stocks should do well. I really did not want to discuss finances just yet, but heck we must go on. We are planning on resuming trading on Monday when the U.S. markets open for business, if they do.
