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--- Pada Ming, 28/6/09, jsx_consultant <jsx-consult...@centrin.net.id> menulis:
Dari: jsx_consultant <jsx-consult...@centrin.net.id>
Topik: [ob] Suku bunga tabungan US mencapai 6,9%
Kepada: obrolan-bandar@yahoogroups.com
Tanggal: Minggu, 28 Juni, 2009, 11:27 AM
Highest Savings Rate
Equities retreated yesterday as the Commerce Department said the savings rate
among Americans reached 6.9 percent in May, the highest since December 1993,
spurring concern that consumer spending will wane.
Lengkapnya:
U.S. Stocks Slump, Posting First Back-to-Back Loss Since March
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By Lynn Thomasson and Rita Nazareth
June 27 (Bloomberg) -- U.S. stocks fell, pushing the Standard & Poor's 500
Index to the first back-to-back weekly declines since March, after the World
Bank said the recession will be deeper than previously forecast and the highest
savings rate in 15 years signaled consumers may pare spending.
Boeing Co. tumbled 14 percent after delaying its target for the first flight of
the 787 Dreamliner. Nike Inc., the world's largest athletic-shoe maker, lost 10
percent after saying orders declined 12 percent because of the global economic
slump. ConocoPhillips and Apache Corp. sank more than 3.1 percent on oil's
slump below $70 a barrel.
The S&P 500 declined 0.3 percent to 918.90 this week. The Dow Jones Industrial
Average fell 101.34 points, or 1.2 percent, to 8,438.39. The Nasdaq Composite
Index added 0.6 percent to 1,838.22.
"The question that has emerged is: Has the market gotten ahead of the economy?"
said Walter "Bucky" Hellwig, who helps oversee $30 billion at Morgan Asset
Management in Birmingham, Alabama. "The consumer is hoarding cash and that's an
economic headwind."
While the S&P 500 is up 36 percent since reaching a 12-year low on March 9, the
index has slipped 2.9 percent in the past two weeks as investors speculated
that share prices already reflect a recovery in the economy and profits. Energy
producers, makers of industrial equipment and real-estate companies have fallen
the most in the S&P 500 since June 12, with each group losing more than 7.7
percent, as oil prices decreased and U.S. new home sales unexpectedly fell in
May.
Largest Currency Reserves
The dollar dropped, pushing a gauge of its performance against currencies from
six trading partners to a two-week low. China's central bank reiterated a call
for a worldwide currency, adding to speculation that the country will diversify
its cash reserves, the world's largest at more than $1.95 trillion.
Boeing, the world's second-largest commercial planemaker, slid 14 percent to
$41.88 this week. The 787 Dreamliner, already two years behind schedule, will
miss its June 30 first-flight target and a new delivery timetable won't be
available for weeks, Boeing said.
Nike dropped 10 percent to $50.84. Excluding the effect of currency exchange
rates, worldwide orders for delivery from June through November fell 5 percent
from a year earlier. Sara Hasan, an analyst with McAdams Wright Ragen Inc. in
Seattle, projected orders would decline 2 percent, at most, on that basis.
$69.16 a Barrel
ConocoPhillips, the second-largest U.S. oil refiner, retreated 3.1 percent to
$41.62. Apache, the second-biggest independent U.S. oil producer, slumped 4.1
percent to $72.22.
Oil, which closed as high as $72.68 on June 11, has fallen to $69.16 in New
York on concern the economy may weaken.
"It was unrealistic to expect" stocks to keep rising, said Hank Smith, who
helps oversee $5.5 billion as chief investment officer of Haverford Trust Co.
in Radnor, Pennsylvania. "We're still in a bottoming phase of the economy and
getting mixed reports."
The S&P 500 plunged 3.1 percent, the most in two months, on June 22 after the
World Bank said unemployment and poverty will rise in developing nations and
predicted a 2.9 percent contraction in the global economy this year. That
compares with a prior estimate of a 1.7 percent decline. Growth is expected to
return in 2010 at 2 percent, less than the 2.3 percent forecast about three
months ago.
Highest Savings Rate
Equities retreated yesterday as the Commerce Department said the savings rate
among Americans reached 6.9 percent in May, the highest since December 1993,
spurring concern that consumer spending will wane.
"The magnitude of that savings rate may have gotten some folks by surprise,"
said Philip Orlando, who helps manage $409 billion as chief equity market
strategist at Federated Investors Inc. in New York. Economic and earnings
growth is "potentially not going to be as robust as some were thinking. That's
weighing on stocks."
The U.S. economy shrank at a 5.5 percent annual rate in the first quarter,
capping the worst six-month performance in half a century, according to a
Commerce Department report. The number of Americans filing claims for
unemployment benefits unexpectedly rose last week, a reminder that companies
will keep cutting staff even as the economy stabilizes.
Lennar Corp. surged 18 percent to $9.18 for the S&P 500's biggest gain. The
third-largest U.S. homebuilder bolstered its cash and reported 52 percent more
second-quarter revenue than analysts' estimated, according to Bloomberg data.
General Mills Inc., Constellation Brands Inc., Apollo Group Inc. and H&R Block
Inc. are among companies scheduled to report earnings next week. Economic
reports may show the U.S. unemployment rate rose to 9.6 percent, the highest
since 1983, and factory orders increased for a second month in May with a 0.8
percent gain, according to the median economist estimates compiled by
Bloomberg.
To contact the reporters on this story: Lynn Thomasson in New York at
lthomas...@bloomber g.net; Rita Nazareth in New York at rnazar...@bloomberg
.net.
Last Updated: June 27, 2009 08:00 EDT
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