stock market

After stockmarket hours on November 22nd, the fast-food firm said he had resigned; it would need a third boss in under a year.

"If the bottom drops out of the stockmarket, the bottom drops out of the budget, " says Jean Ross of the California Budget Project.

But it is hard to think of a recent ballot in a developed country that has led to a stockmarket taking a decisive new course.

But the VIX index of American stockmarket volatility (a measure of the cost of buying options) was close to a ten-year low in late October.

How did GE get itself into a mess that has seen $269 billion wiped off its stockmarket value since the beginning of 2008?

Australians seeing the stockmarket at its lowest level in two years are "living with the hangover of the global financial crisis" , he said.

Today, however, he seems to have no doubts that China's stockmarket is bubbling over.

EVERY time the stockmarket rebounds, as it has recently, commentators wonder whether this at last marks the bottom for share prices.

The bank, the third-largest listed lender on the mainland stockmarket, said it hoped to complete the long-awaited stock offering this month.

The size of cities, the pay of executives and the performance of the stockmarket all seem to follow such laws.

But for those whose performance is judged against that of the stockmarket, the commodity fetish is a mixed blessing.

Its stockmarket flotation in 1995 marked the beginning of the dotcom boom and made Mr Andreessen a celebrity in the business world.

As a highly accumulation establishments of money and capital, the stockmarket is an important way of market allocation of resources.

It was the biggest dealer on the London stockmarket and a huge player on the City's money markets through its broking arm.

IF YOU are the sort of person who does not pay much attention to the daily gyrations of the stockmarket, congratulations.

But what if superior GDP growth showed up in stockmarket returns not immediately but over a prolonged period?

In his previous work, "Dot. Con" , which came out in 2002, he chronicled the follies of the stockmarket bubble of the late 1990s.

It would be a brave man who plunged into the Athens stockmarket, even though it has fallen by 90% from its peak.

Concerns about Italy led to a rapid rise in the country's government-bond yields and a fall in its stockmarket.

In the stockmarket, this measure is known as the Vix (short for volatility index) and is a widely watched indicator of confidence.

Indices began as a way of gauging the general health of the stockmarket.

Americans' spending is likely to be dented much more by a fall in house prices than it was in 2001 by the stockmarket's collapse.

Moreover, the volatile economy is clearly taking its toll; falls in the stockmarket are quickly showing up in lower sales.

One of its two authors, Andrew Smithers, a British economist, has now returned to the theme of stockmarket valuation.

If these analysts are right, you might expect investors to be snapping up the stockmarket bargains that distressed selling has created.

IN EARLY 2000, just as the dotcom bubble was at its height, two books appeared that argued the stockmarket was overvalued.

Plenty of big businesses, too, are shunning the stockmarket, with its costly reporting requirements and impatient investors.

The stockmarket, though, is still a bubble: even the operators of the Shenzhen exchange have felt obliged to point out the dangers.

The extent to which states raise their own payments to pension funds depends on the stockmarket.

The Spanish stockmarket is one of Europe's worst performers, having fallen by around a third, in dollar terms, since the start of 2010.

Tens of millions of Chinese are risking their shirts in a stockmarket frenzy. If it goes wrong, things could get nasty.

For many years Mr Madoff, a former chairman of the NASDAQ stockmarket, assured his clients that their money was safe with him.

The moves, however meek, briefly supported the stockmarket, which had fallen for 25 trading days in a row.

Mr Schmidt's role was to reassure Wall Street types that Google was responsibly run, in preparation for a stockmarket listing.

The possibility that even respected firms might be guilty of accounting shenanigans depressed stockmarket prices.

You might have expected the stockmarket to rebound sharply on the news.

Mr Grantham's lament reflects an underlying problem: valuation often fails to be a good short-term guide to the stockmarket's prospects.

That compares with a meagre doubling in the price of copper this year and a 77% increase in the Shanghai stockmarket.

The Nikkei 225 average, Tokyo's best-known stockmarket measure, is still only a quarter of its peak, reached at the end of 1989.

Now that foreigners are again flocking to India's stockmarket (see chart), capital inflows are once more playing on the RBI's mind.

Stockmarket indices, soaring house prices and low inflation surely did more to feed bankers' and borrowers' exaggerated sense of well-being.

The Milan stockmarket slumped to its lowest in two years.

After a strong rebound in 2009, the Shanghai Composite index is Asia's worst-performing stockmarket so far this year.

Such upheaval would be controversial. But something dramatic may be needed if America wants to retain its stockmarket hegemony.

The private companies that drive the global economy Few companies are able to resist the lure of the stockmarket.

One of the first measures is the VIX, or volatility index, which measures the variability of the American stockmarket.

Only one thing is missing: profits. As the boss of a private company in no rush to join the stockmarket, Mr Ma is relaxed.

Yet the stockmarket seems to assume a robust economic recovery.

The stockmarket continues to reward cost-cutting, even if it pares muscle as well as fat.

These secondary-market prices feed hype about what these firms might be worth, were they to list on the stockmarket.

The Athens stockmarket swooned, and a team from the IMF arrived to help.

Another possibility is that economic growth does not always get captured by the stockmarket.

Worse, earnings forecasts peaked in 2000 just as the stockmarket was about to fall.

Brazil is a more mixed bag: it has attracted net inflows this year but its stockmarket has fallen by more than the emerging-market average.

IF EVER an industry had reason to complain about the whims of the stockmarket, it would be investment banking.

But private-equity returns are not really very "alternative" , since the forces that drive them also drive the stockmarket.

In the space of 14 years, Apple has transformed itself from a computer firm on the brink of bankruptcy into a stockmarket superstar.

Indeed, as the stockmarket shrugged off the latest rate cut, the Fed's authority already looked diminished.

The stockmarket's first reaction was gloomy, made worse by plummeting markets around the world, and businessmen found little to cheer about.

In January foreign investors pulled record amounts out of the Japanese stockmarket.

But yields at that level would be too high for the health of the housing market, the stockmarket and for other governments worldwide.

That sent Shanghai's stockmarket index down to its lowest level since March 2009 (see chart), with property developers suffering especially.

Mr Madoff's Ponzi scheme probably began after the 1987 stockmarket crash, which prompted investors to withdraw billions from his fund.

It was able to list on the stockmarket in the teeth of a financial gale only because it actually has a business.

Past returns are the main determinant of flows into the stockmarket; investors buy when prices have gone up, not down.

As investors bought equities, valuations (and thus prices) rose, enticing them to put more money in the stockmarket.

In turn, volatility tends to fall when the stockmarket is rising.

Speculative excess in the stockmarket has tended to be associated with booms in luxury goods and record prices for trophy assets.

Microsoft's share price has fallen by almost 20% since the beginning of this year, while the S&P 500 stockmarket index has risen by 4%.

Going private would ease short-term stockmarket pressure, he concedes, but it would simply be "trading one pressure for another" .

In effect, they are handing a guarantee of future stockmarket performance to their employees; something that would be very expensive to buy.

His appointment was welcomed by investors: the Lima stockmarket index climbed by 4. 6% the next day.

STOCKMARKET bubbles often take a genuine improvement in economic or corporate performance, and then vastly overestimate its effect.

Living standards have improved and a sizeable middle class has emerged. The stockmarket has boomed.

The culprit, the report determined, was a "large fundamental trader" that had used an algorithm to hedge its stockmarket position.

The resurgence of the mainland China stockmarket has been one of the more remarkable investing stories of recent years.

Such is Alitalia's plight that Consob, Italy's stockmarket regulator, requires it to report monthly on its debt and cash positions.

He says the stockmarket does revert to the mean, in that periods of high returns tend to be followed by periods of low returns.

The stockmarket may be missing an important structural change in the economy, argues Larry Hathaway, an economist at UBS, a bank.

Some of the most prominent start-ups are preparing for stockmarket listings or are being bought by big firms with deep pockets.

Rising gold prices have led to a stockmarket rally, based on hopes that the global economic recovery is gaining ground.

PROFESSIONAL fund managers find it very hard to outperform stockmarket indices in a reliable fashion.

The dotcom bubble had burst spectacularly, the Nasdaq stockmarket had crashed, and the American economy was tipping into recession.

The Australian stockmarket, among the few global exchanges to be open when the bailout was confirmed, rose by 1. 2%.

Take the momentum effect, the practice of buying the stockmarket's best performers over the previous time period.

Although the mainland stockmarket is currently buoyed by a mood of optimism, recent events have also underlined its fragility.

Specialist "distressed debt" funds emerged that looked for undervalued bonds, rather as value investors combed the stockmarket for bargains.

The hearing is tied to an investigation of the shareholder vote led by the local stockmarket regulator.

Such heavy investment does not sit well with the short-term obsession of the stockmarket.

By choosing Williamson and Ostrom , the Swedish academy looked beyond the area of economics devoted to stockmarket behaviour .

By choosing Williamson and Ostrom , the Swedish academy looked beyond the area of economics devoted to stockmarket behaviour .

No stockmarket in Europe is a match for the NASDAQ, where most American technology companies are listed.

Millions of Americans had put money into the stockmarket during the boom years, in the belief that shares would keep rising.

Meanwhile, Citigroup paid $34. 4 billion to its employees in 2007 and is now valued by the stockmarket at just $18. 1 billion.

Utah has calculated it will have to commit 10% of its general fund for 25 years to pay for the effects of the 2008 stockmarket crash.

The scene at the BM&FBOVESPA, Brazil's main stockmarket, earlier this month encapsulated Brazil's thriving alternative-investment industry.

STOCKMARKET bubbles often take a genuine improvement in economic orcorporate performance, and then vastly overestimate its effect.

Start with China's stockmarket, described by Andy Xie, an independent economist, as a "giant Ponzi scheme" .

Indeed, rather than raising doubts about the emerging economies, the stockmarket excesses perhaps raise doubts about the markets themselves.

Private-equity firms invest in companies that are subject to the same economic forces as those quoted on the stockmarket.

Besides, thanks to a rising stockmarket, most made sacks of money from their investments.

Standard & Poor's lowered its credit outlook for Italy from stable to negative. The main Italian stockmarket swooned.

The Madoff approach had virtually no correlation with the performance of the overall stockmarket.

huge foreign sell orders ? the biggest since the world stockmarket crash of october 1987 ? sent japan ' s blue - chip shares skidding.

Tens of millions of Chinese are risking their shirts in a stockmarket frenzy. If goes wrong, things could get nasty.

The quarter-point cuts in its federal funds rate and discount rate on December 11th were followed by a steep sell-off in the stockmarket.

The stockmarket, which continues to plunge (see article), is no home for hot money.

A fast-rising and highly valued stockmarket does not, in itself, imply a bubble.

In the first half of 2009 the Jakarta stockmarket rose more than any other Asian marketexcept Mumbai's and Shanghai's.

The economy, which has been fuelled by huge government cash injections as well as by property and stockmarket bubbles, will cool.

The economy, which has been fuelled by huge government cash injections as well as by property and stockmarket bubbles, will cool.

CONSIDER these two statements: the American stockmarket was overvalued in 2000; company profits are high relative to economic output.

Stockmarket movements are a standard component of economic lead indicators.

Therefore, investors should be mindful of the volatility of the stockmarket.

Like an index mutual fund, they track baskets of assets, such as stockmarket indexes or commodities.

And the model did not work in 1990s Japan, where sharply falling government-bond yields were no help to the stockmarket.

Listing even a small stake helps keep managers on their toes, by subjecting them to the scrutiny of the stockmarket.

Similarly private-equity managers will often realise their investments by refloating firms on the stockmarket.

They go up, then down, then up again like the stockmarket.

In recent years the returns of the hedge-fund industry have become more correlated with the stockmarket.

In recent years the returns of the hedge-fund industry have become more correlated with the stockmarket.

Deutsche Bank has created the ELVIS index, which generates returns when stockmarket volatility increases.

A minority of their equity has been sold to the public and is traded on the stockmarket.

In the same year that the mainland stockmarket more than doubled, the casinos in Macao recorded higher revenues than the Las Vegas Strip.

Many citizens worry about inflation, a stockmarket slump and signs that the property boom of the past few years is losing momentum.

They invest patiently, unruffled by the short-term demands of the stockmarket.

The latter duly abandoned the partnership structure and raised money on the stockmarket, or were bought by commercial banks.

If they did shift that way, the result might be a less volatile stockmarket that is rather better at allocating capital.

But this looks like a revival of the old Fed tactic (much in evidence in the 1980s and 1990s) of underwriting the stockmarket.

Stockmarket investors should also think carefully before they celebrate too wildly over rising bond yields.

Stockmarket investors should also think carefully before they celebrate too wildly over rising bond yields.

So it would probably take a sharp drop in the stockmarket, or a general business collapse, to hurt the rich.

As millions of Chinese citizens have discovered the thrill of gambling on the stockmarket, share prices there have soared.

Thanks in part to those scandals, India's stockmarket was the worst-performing outside the Muslim world over the past year.

However, as an official notes, there is as yet little support in the south for warmongering, and the stockmarket has held firm.

That does not just hit the currency: the KOSPI stockmarket index lost 11% over three trading sessions last month.

The stockmarket has rallied sharply as investors have regained their nerve and fears about banks going bust have receded.

People nevertheless use the stockmarket as a barometer of economic health.

The country lacks venture capital, a vibrant stockmarket and angel investors with technical knowledge to nurture start-ups.

Codexis, an American start-up backed by Royal Dutch Shell, an Anglo-Dutch oil giant, pulled off a stockmarket flotation in April.

So when the bears say, as they do now (see article), that the stockmarket rally is built on sand, they are worth listening to.

Because mining firms comprise a large slice of the Australian stockmarket, the decline has had a big impact on other investors too.

Despite these worries, there may still be some segments of the stockmarket that perform well.

With the economy and stockmarket stumbling, that offers the best chance of bringing down the government.

An increase in stockmarket volatility is one gauge of uncertainty.

In his first two days after winning election he was greeted by a 10% plunge in the stockmarket.

India is now facing harder times. Its stockmarket has been sliding all year.

After Japan's property and stockmarket bubbles burst, the banks, buckling under bad debts, retreated home.

Now other Italian luxury-goods firms are considering following Bulgari to the stockmarket.

This could scupper Kohlberg Kravis Roberts's hopes of following Blackstone to the stockmarket.

The government, meanwhile, still owns a large slice of the economy, leaving China's savings only one place to go: the stockmarket.

Eventually benchmarks were established and managers were judged on whether they beat the industry, or the stockmarket, average.

These tech-savvy firms ought to be less gullible than the stockmarket investors of 1999.

Another internet company made a much-heralded stockmarket debut.

The statistics suggest its returns are closely correlated with the stockmarket.

Japan also had a stockmarket bubble, which burst a year earlier than that in property.

After reforms to capital markets, the stockmarket has exploded even as interest rates have remained low.

Those bosses, with their dual role as party bigwigs and chief executives, are beholden to a higher authority than the stockmarket.

Thanks to them, Softbank is still the stockmarket's most heavily traded company.

Investors in Japan's stockmarket continued to be sanguine in the face of statistics that pointed to economic weakness.

The document is seen within the firm as Goldman's biggest cultural moment since its stockmarket flotation in 1999.

Mr. Hunter made a pile of money in the stockmarket.

Prudential has announced a $20 billion rights issue to finance the deal, the largest ever for the London stockmarket.

A surge in tax revenue, pushed by the stockmarket bubble, then pushed the budget into surplus in 1998, four years ahead of schedule.

Both are among the world's top five internet firms by stockmarket value.

Australia's stockmarket opened sharply lower on Monday (most other Asian bourses were closed).

In particular, the financial sector contributed an increasing proportion of stockmarket profits from the early 1980s to 2006.

Up, sharply, went the standard measure of stockmarket volatility, itself a tradable item.

The stockmarket declines of recent weeks clearly do nothing for confidence, but nor are they a reason to panic.

The banking system is flooded with liquidity, which boosted the property market and the stockmarket.

The combined stockmarket values of PC hardware and software firms exceed half a trillion dollars.

In order to shield small firms, those with a stockmarket value of less than $75m were initially exempted.

When the stockmarket is falling, they tend to view the idea of investing more money into equities as sending good money after bad.

At best, that reflects poor analysis: the stockmarket tumbled 41% during the year.

But the stockmarket is also supposed to be concerned with the efficient allocation of capital.

India cannot absorb a lot more foreign capital without worrying about stockmarket turbulence or the strength of the rupee.

Some 200, 000 students have signed up to play "Wall Street Survivor" , an online stockmarket-simulation game.

Communists have abandoned their five-year plans in favour of stockmarket listings.

PetroChina has offered a substantial premium to the stockmarket price.

Relying on prospective valuations is exactly what stockmarket investors were forced to do in the late 1990s.

The industry was then characterised by weak profits and had stockmarket ratings to match.

this foreshadows Bubble 2. 0, let alone Bust 2. 0, are slim at least when it comes to stockmarket listings of internet firms.

Mr Case is also keen to find ways to make it easier for gazelles to raise money from the stockmarket.

But over the past 12 months, the standard measure of stockmarket volatility, the Vix (or volatility index), has roughly doubled.

One way would be to search for more metal in the ground, instead of on the stockmarket.

NASDAQ's stockmarket trading platforms were unaffected.

Companies look to the stockmarket for prestige rather than capital.

Quarterly results impress the stockmarket; little else does.

Then it happened all over again, starting in 2004 with the listing of Google on the stockmarket, which inflated a new "Web 2. 0" bubble.

Similar sangfroid is being displayed about America's stockmarket.

Industrial production dipped only briefly. The stockmarket fell by 8% in the week following the quake, but rose later.

Lima's stockmarket swooned after the election result, but then recovered somewhat.

A second much-talked-about threat is the bursting of China's stockmarket bubble.

The stockmarket regulator is investigating the sudden drop.

In the early days of fund management, in the 19th century, there were no stockmarket indices.

However, the stockmarket is still well below its peak in late 2007.

NEWS bulletins feature the stockmarket's daily movements or the rise and fall of European government-bond yields.

The American economy recovered quickly from September 11th, while the start of both Gulf wars triggered big stockmarket rallies.

Yet individual Japanese investors are still only gingerly returning to their own stockmarket.

By the end of the day, the stockmarket had fallen by almost 6%.

In the past year, many companies earned substantial profits from gains on stockmarket investments.

The historic dividend yield on the American stockmarket is around 3%.

State-backed firms, similar to China's, make 40% of stockmarket profits and dominate energy and finance.

So many of its banks make money that it could even list its shares on the stockmarket.

Whereas a US stockmarket portfolio is flat this year, thanks to the euro a European portfolio is down 18%.

some blamed the 1987 stockmarket crash on computers instructed with simple decision-making rules.

Even today nearly half of European and American stockmarket value sits in firms worth over $50 billion.

He favours its partial listing on the stockmarket, but has accepted that changing the constitution to allow this is politically impossible.

The stockmarket's fall has greatly complicated matters.

As China's prices rise, consumer confidence and the stockmarket are falling.

That would have helped the government pare its debt (around 200% of GDP) and probably given a pleasant lift to the stockmarket.

Has the American stockmarket opened for trading yet?

India cannot absorb a lot more foreign capital withoutworrying about stockmarket turbulence or the strength of the rupee.

Yet the Saudi stockmarket suggests that something is amiss.

BP's share price slumped, wiping out almost half its stockmarket value.

But the stockmarket has stagnated since 2000 and state coffers have been bare.

Japan had lots of economic rebounds and stockmarket rallies in the course of the 1990s.

That represents a premium of some 50% over Origin's stockmarket value when BG first registered its interest in late April.

Since then an entire stockmarket cycle has taken place and the position, although volatile, is worse than ever.

One factor was subdued capital-markets activity, caused by Europe's debt crisis and the stockmarket "flash crash" in May.

The share prices of farm-machinery makers outperformed the stockmarket's (admittedly miserable) averages in 2007 and 2008.

Nor is the phenomenon confined to the stockmarket.

The first is that leading economic indicators usually include the stockmarket itself as a key component.

The outlook of the stockmarket is bearish.

If the building is as risky as investment in the stockmarket, then uncertainty further reduces value by $16, 689 to $357, 143.

The global stockmarket gains of recent years were wiped out.

Poland's stockmarket is up by nearly 40% since its low in February, Hungary's has risen by half and Russia's by nearly 90%.

Only 2% of the bosses of Fortune 500 companies and five of those in the FTSE 100 stockmarket index are women.

The stockmarket plunged by almost 5%, tarnishing the new president's shine.

Japan's stockmarket ended the week in disarray: the Nikkei 225-share index fell by 24% on the week, twice the weekly fall of the 1987 crash.

One answer is that a stockmarket is not a perfect facsimile of an economy. Many companies are unquoted.

Credit is cheap and flowing; and the stockmarket has more than doubled in value in the past six months.

The economic outlook continues to darken and the stockmarket has already tumbled to 12-year lows.

Sure enough, Brazil's main stockmarket index, the Ibovespa, lost 17% of its value from July 23rd to August 16th.

Alas, two weeks after he saw the "plateau" the stockmarket crashed.

The plunge in China's stockmarket has made any policy that would encourage capital outflows politically untenable.

The stockmarket reacts on economic news.

Its owners plan next year either to float it on the stockmarket, accept an injection of private capital or find a buyer.

INVESTORS had long ago seen their hopes dashed of a pre-Olympic boom in China's stockmarket.

In doing so, it offered the average American his first chance to invest cheaply and directly in the stockmarket.

But the recent stockmarket fall will calm things down.

Developing economies such as India's prevent foreigners from buying debt but freely allow them into the stockmarket.

That loyalty has been tested for almost 20 years whenever the stockmarket lurches lower.

A wave of selling has sent the stockmarket down to levels not seen in almost 30 years.

It is thus tough for investors to beat the stockmarket average.

The biggest, Infosys, has a stockmarket value of only $28 billion, compared with IBM's $144 billion.

On March 1st the country's stockmarket, jittery about the neighbours, plunged by 7%, a worrying sign that confidence is fading.

The stockmarket fell by 8% in the week following the quake, but rose later.

In 2008 funds with a 2010 target suffered losses of 20-30% as the stockmarket plunged.

They have the trappings of the private sector, such as boards of directors and listings on a stockmarket.