| Author |
 Topic  |
|
|
fb101
Administrator
USA
2856 Posts |
 Posted - 11/10/2008 : 05:19:21
|
You must be logged in to see this link.{9EB7F6A9-9F6B-4BF0-9A88-66D44C81552B}
U.S. stock futures climb as China unveils stimulus
By Steve Goldstein, MarketWatch
Last update: 5:18 a.m. EST Nov. 10, 2008
Comments: 27
LONDON (MarketWatch) -- U.S. stock futures rose on Monday, with commodities and their extractors getting a particular lift after China unveiled a stimulus package worth more than $500 billion.
U.S. stocks ended with strong gains on Friday as investors looked past a report showing 240,000 jobs lost in October and big quarterly losses at General Motors and Ford Motor Co. But over the course of the week, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite each lost about 4%.
China over the weekend announced a 4 trillion yuan, or about $586 million, plan to loosen credit conditions, cut taxes and embark on major infrastructure spending.
China's plan gave a major lift to commodities that had been dragged down on fears over slowing economic growth.
"It should compensate for some of the weakness in the economy that is generated by the poor outlook for exports - but we do not see it compensating all the weakness," said economists at UBS.
Oil futures rose $2.76 to $63.80 a barrel, and gold futures climbed $16.40 to $750.60 an ounce.
|
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/10/2008 : 08:42:53
|
| Thanks for the news story. Interesting to see China getting into the "economic stimulus" game too - it seems to be fashionable these days. (Moved thread to correct heading.) |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
 |
|
|
horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 11/10/2008 : 08:55:15
|
Some differences:
China's economy is still growing. It fell from a 14% to 8% growth rate. However, An 8% growth is politically unacceptable. The Chinese people are demanding infrastructure improvements now! The money will be spent on low cost housing and other similar things that are being demanded from the populace such as continued improvements in roads, sewage, water, power.
Also the government is not printing or borrowing the money. They are spending money that they already have.
At least that is the story, that I have been hearing...
|
|
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/10/2008 : 09:32:25
|
China can afford thier infrastructure improvements and they are really building them fast. I've driven on new and under construction freeways for hours at a time in China. They are building something comprable to the US Interstate system right now.
Increasingly domestic consumption in China is becoming a huge factor. We bought several laptops at a huge mall in Beijing jammed full of low price, international and local branded laptops, stereos, cell phones, DVD players etc. Best Buy looks way understocked compared to that place.
Also saw a massive factory covering easily a Million Sq.Ft. devoted to appliances for the domestic market. The Chinese are buying a/c units, refridgerators, microwaves, rice cookers, etc like crazy. Furniture, automobiles, education, better food, and on it goes. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
|
|
|
fb101
Administrator
USA
2856 Posts |
Posted - 11/10/2008 : 18:48:51
|
| I was just thinking about the increase in demand for copper this will create. |
 |
|
|
| |
Topic |
|
|
|
China Stimulus & Infrastructure rebuild package
Forum Locked
