Octobophobia worries markets as autumn looms
New York analysts warn October fears linger after past crashes. They note 1987 Black Monday's 22.6 percent Dow drop still shapes sentiment, while low yields and overvalued fundamentals tempt cautious bets. Skeptics dispute new-era theories and urge prudent portfolios.
MENTIONED IN THIS ARTICLE
Dow Jones
Stack
Wall Street
Norman Fosback
Fort Lauderdale
Fosback
Market risks and earnings fears temper U.S. stocks outlook
Ed Walczak of Vento bel U.S.A. warns earnings disappointments may trigger a correction, not rising rates. He notes PMI below 50 in recovery and only 1.8 percent first-half S&P 500 growth, while bonds yield under 6 percent amid a weak economy. Investors chase liquidity and momentum, signaling capitulation.
MENTIONED IN THIS ARTICLE
U.S
Ed Walczak
Ventobel U.S.A
New York
Standard & Poor
Walczak
Conrail cuts 198 jobs at Enola Yard in purge
Conrail announced plans to eliminate 198 positions at Enola Yard as it closes the hump and shifts work to Allentown Pittsburgh and other sites. Car inspection repair and clerical roles are cut while Enola diesel terminal remains unchanged. many workers may transfer, with overall Harrisburg area staff at about 1100.
MENTIONED IN THIS ARTICLE
Harrisburg
Conrail
Enola
Allentown
Pittsburgh
August housing starts jump 7.8 percent to 3-year high
The Commerce Department reports housing starts rose 7.8 percent in August to a seasonally adjusted annual rate of 1.32 million, the strongest pace since February 1990. Single family starts up 11 percent to 1.18 million, while apartments rise 6.7 percent to 143,000. regionally, West up 16 percent, Midwest 10 percent, South 6.4 percent, Northeast mixed.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
White House
Dee Dee Myers
Clinton
David
F.seiders
National Association of Home Builders
Midwest
California
South
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