Update: corrected spelling thanks to reader comment.
2 comments:
Anonymous
said...
You cant even SPELL bellwether.
GE was a bellwether (in the 80s and 90s)- did anyone notice how GE sat out the bull markets of this decade and is where it was at the end of the 90s?? DJIA is a price weighted index, too, so it isnt like IBM getting hit and taking the dow down 130 points in itself.
Thanks for the spelling correction. GE is one of the 3 or 4 largest companies in the world and considered the U.S. leading industrial company. The stock had rallied 20% from the market low in March and the whole street was looking for GE to set a tone for the earnings season. GE's earnings were a surprise flop and the market flopped. I never mentioned the Dow at all but your comments about the Dow being price weighted are correct. i believe your inference was wrong. The Dow was down a lot that day not because of GE's point decline but because of GE's influence as a bellwether.
2 comments:
You cant even SPELL bellwether.
GE was a bellwether (in the 80s and 90s)- did anyone notice how GE sat out the bull markets of this decade and is where it was at the end of the 90s?? DJIA is a price weighted index, too, so it isnt like IBM getting hit and taking the dow down 130 points in itself.
Thanks for the spelling correction. GE is one of the 3 or 4 largest companies in the world and considered the U.S. leading industrial company. The stock had rallied 20% from the market low in March and the whole street was looking for GE to set a tone for the earnings season. GE's earnings were a surprise flop and the market flopped.
I never mentioned the Dow at all but your comments about the Dow being price weighted are correct. i believe your inference was wrong. The Dow was down a lot that day not because of GE's point decline but because of GE's influence as a bellwether.
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