GE shares are languishing at more than four year lows (as the broader market soars to record highs) and GE credit risk stands at 8 month highs (almost dopuble the post-crisis lows hit in June). As Goldman analyst Joe Ritchie warns, a significant earnings per share/free cash flow reset looms and the prospect of a dividend cut is dragging the stocks lower.
By Robert Shiller, first published in the NYT
Oct. 19, 1987, was one of the worst days in stock market history. Thirty years later, it would be comforting to believe it couldn’t happen again.
Via Dana Lyons' Tumblr,
While the S&P 500 his on an impressive string of new highs, a number of them have come on questionable breadth.
30 year ago today, traders were having a bad day: the Dow, S&P 500, FTSE, DAX and CAC fell -23%, -20%, -11%, -9% and -10% respectively. The FTSE fell a further 12% the day after, reflecting the difficulties in fully reopeningthe market after the great storm a few days before. The day would eventually become known as Black Monday.
Via Dana Lyons' Tumblr,
A key barometer of worldwide developed markets is bumping up against 9-year highs.