U.S. stock-index futures Tumble as durable goods orders reportedly slumped in August.

Market forces September 25

The stock market extended losses yesterday as new job losses continued in the hundreds of thousands. Home sales also fell yesterday and today it is reported that durable goods orders slumped. Jim Cramer is optimistic though and said this new correction will be no more than 5%, not the 10% to 20% correction many are expecting. JC is usually optimistic.

Oil, gold, and commodities dropped as economy appears to be stalling and depression fears rise again.



Market Outlook

Obama and Barney Franks did noting to reign in the corruption and incompetence of the SEC and the other regulators. So the bankers gave themselves bonuses for getting away with their highway robbery. Quietly Barney and the socialists in Congress have just reinstated taxpayer funding for the corrupt ACORN organization.

Worldwide credit remains tight. A bubble has been caused by TARP money being used to free up financial institution cash for stock market speculation instead of for loans. That stock market TARP bubble may finally be bursting. If so, the stock speculating financial institutions will face great losses and may request additional TARP funds. Taxpayers are even being asked to fund stock market bubbles these days.

The Obama administration has done nothing to break apart the financial institutions into banks and stock equities market firms as they existed before 1998.


Asian markets were down last night; China down -0.5%, Hong Kong down -0.1%, Japan down -2.6%, S. Korea down -0.1%, and India down -0.5%.

European markets are flat but highly variant about -1% to +1% this morning about half way through their day.

US market futures are down slightly at 8:00 AM EST after the sell-off following yesterday's Federal Reserve decision.

The stock market correction appears to be two days old now. If the correction is just 9% overall, many stocks will not change and that means many stocks will drop 20% or more to make up the difference. Technology stocks usually show the greatest changes.