US stocks plunge, wiping out July's gains

[Omaha Steve]

Source: AP-Excite

NEW YORK (AP) — U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.

The drop interrupted a prolonged advance in the market and erased its gains for July. It was only the second monthly loss for stocks this year, after January.

The Dow Jones industrial average plunged 317 points, or 1.9 percent, to close at 16,563 Thursday.

FULL short story at link.



FILE - This April 22, 2010, file photo, shows a Wall Street sign in front of the New York Stock Exchange. U.S. stocks slumped Thursday, July 31, 2014, as investors reacted to disappointing corporate earnings reports and assessed the implications of the approaching end to economic stimulus from the Federal Reserve. (AP Photo/Mark Lennihan, File)



Read more: http://apnews.excite.com/article/20140731/us--financial_markets-us_close-ec49fc5509.html

[Wellstone ruled]

1. Just a head fake.

Waiting for this to come. Let's get real,the biggees are running the show and you and I are getting our 401's and IRA's raided today. Just a wealth transfer. End of the month and pension funds get beat up big time buy the HFTers. The Banks made a ton today on this manipulation. Notice the glut of Oil is taken its toll on the Banks. You know when that happens the thieves trash the market. It's a rigged game and you and I can only coattail this turkey.

[brooklynite]

3. Sorry to disappoint you, but my 401K and 457 are doing fine...

Approaching 7 figures on a Government salary and no matching. Just a rigorous program of putting away the maximum allowed each pay period and investing in moderately conservative instruments.

[BumRushDaShow]

2. "traders worried about weak corporate earnings" BULLSHIT

This is the last day of the month and they are grabbing some profits to use as pen money for their August vacations. They had mostly good news this past week with respect to the economy, consumer sentiment, GDP, and the Fed policies (interest rates) going forward.

[Earth_First]

4. Indeed.

The Hamptons will be busy over the next three weeks...