▶ TTT - Freitag, 14.03.2008
DAX-Tagesanalyse http://www.boerse-online.de/charttechnik/
Pivots für den 14.03.2008
Pivot-Punkte
Resist 3 6684,35
Resist 2 6606,99
Resist 1 6553,77
Pivot 6476,41
Support 1 6423,19
Support 2 6345,83
Support 3 6292,61
Alle Angaben ohne Gewähr
TERMINE
Freitag, 14.03.2008 Woche 11 • 08:00 DE Verbraucherpreise Februar • 08:00 EU ACEA Kfz-Neuzulassungen Februar • 08:00 DE Außenhandel mit Wein 2007 • 08:00 DE Umsatz Gastgewerbe Januar • 09:00 CH SNB Bankenstatistisches Monatsheft März • 10:00 EU EZB HVPI Februar • 10:00 EU EZB Wettbewerbsindikatoren • 11:00 EU Inflation Februar • 11:00 EU Arbeitskostenindex 4. Quartal • 13:30 US Verbraucherpreise Februar • 13:30 CA Arbeitsproduktivität u. -kosten 4. Quartal • 15:00 US Verbraucherstimmung Uni Michigan März • 18:00 US Rede Fed-Chairman Bernanke
Legende
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Greetz Happy
Der Dax
2-Tages-Chart, Candlestick-5-Minuten
5-Tages-Chart
3-Monats-Chart, Candlestick
By TIM PARADIS
Stocks plunged early Friday as investors worried that a plan to ease a liquidity crisis at Bear Stearns Cos. indicates how severe credit troubles have become. Each of the major indexes lost more than 1 percent; the Dow Jones industrials fell about 140 points.
Investors were busy examining the plan from JPMorgan Chase & Co. and the New York Federal Reserve to provide secured funding to Bear Stearns for an initial period of 28 days. The move offers Bear Stearns relief from a sudden liquidity crunch.
Bear Stearns shares fell sharply, dragging down other financial companies. Bear skidded $24.50, or 43 percent, to $32.50.
Stocks showed moderate gains in the early going after a Labor Department report showed the Consumer Price Index remained flat for February. Wall Street has been expecting inflation would show an increase.
But the gains quickly disappeared after investors learned more about how close Bear Stearns appeared to have come to financial implosion.
"The Bear Stearns news reversed the early positive sentiment from the inflation data," said Peter Cardillo, chief market economist at Avalon Partners. "There had been nervousness about Bear Stearns for some time and now the market's concerns about the company have been proven true."
In midmorning trading, the Dow Jones industrial average fell 146.05, or 1.20 percent, to 11,999.69 after having fallen as much as 300 points.
Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.88, or 1.51 percent, to 1,295.60, and the Nasdaq composite index fell 29.60, or 1.31 percent, to 2,234.01.
Bond prices jumped as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.42 percent from 3.54 percent late Thursday.
Investors' nervousness was obvious Friday. The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped 9.56 percent.
Declining issues outnumbered advancers by nearly 5 to 1 on the New York Stock Exchange, where volume came to 419.6 million shares.
Friday's stock market pullback comes a day after an anxious stock market rebounded from an early plunge after Standard & Poor's predicted financial companies are nearing the end of the massive asset write-downs that have pummeled the stock and credit markets for months. The S&P projection had given investors some hope that the seemingly unrelenting losses from the mortgage and credit crisis could have been bottoming out.
But the Bear Stearns news rekindled investors' nervousness about the troubles in the financial sector and raised concerns over whether other banks might soon face similar liquidity stresses.
Stock market investors Friday were also eyeing the dwindling dollar and events in the soaring commodities market. Gold prices touched another fresh record Friday.
Light, sweet crude, which set a fresh record Thursday, recently rose 26 cents to $110.59 per barrel on the New York Mercantile Exchange.
The Russell 2000 index of smaller companies fell 9.19, or 1.35 percent, to 670.52.
Overseas, Japan's Nikkei stock average fell 1.54 percent. In afternoon trading, Britain's FTSE 100 fell 1.05 percent, Germany's DAX index fell 1.08 percent, and France's CAC-40 fell 0.96 percent.
Rettungsaktion für US-Bank in Liquiditätsproblemen
„Bear Stearns stand direkt vor dem Abgrund“
Das Geldinstitut JP Morgan und die US-Notenbank Fed haben die fünftgrößte US-Investmentbank Bear Stearns vor einem möglichen Kollaps bewahrt. Anleger reagierten schockiert auf diese Schreckensnachricht. Sie schickten die Aktie in den freien Fall. Und schon taucht die Frage auf, wie es bei anderen Banken aussieht.
HB NEW YORK. Die Fed New York und JP Morgan stellen Bear Stearns
kurzfristig Gelder zur
Verfügung, um einen finanziellen Engpass zu verhindern, wie JP Morgan am Freitag mitteilte.
Die regionale Notenbank von New York gewähre JP Morgan Mittel über ihr Diskontfenster, teilte die
New Yorker Bank am Freitag mit. Die Finanzierung für Bear Stearns laufe zunächst 28 Tage.
Hintergrund: Bear Stearns ist keine regulierte
Geschäftsbank mit dem Recht auf Zugang zum Diskontfenster der Federal Reserve. Deshalb hat die New Yorker Fed nach der Entscheidung, Bear Stearns Liquiditätshilfe zukommen zu
lassen, JP Morgan als regulierte Bank beauftragt, als Vermittler für die
Beleihung von Wertpapieren am Fed-Diskontfenster zu agieren. So reicht die in Liquiditätsnot geratene Bear Stearns über JP Morgan
eigene
Wertpapiere am Diskontfenster bei der New Yorker Notenbank ein, um auf der Basis dieser Sicherheit Liquidität zu erhalten.
JP Morgan will nun mit dem Konkurrenten Bear Stearns
zusammenarbeiten, um eine permanente Finanzierung sicherzustellen oder andere Alternativen zu finden. JP Morgan sieht kein Risiko für die
eigenen Aktionäre durch die Transaktion. Die Fed hat JP Morgan
zugesichert, dass die Bank bei dieser Stützungsoperation keinerlei Haftung übernehmen muss.
Bear Stearns erklärte unterdessen, seine Liquiditätspositionen hätten
sich in den vergangenen 24 Stunden "signifikant" verschlechtert. Nach den jüngsten Gerüchten habe man dafür sorgen wollen, Dichtung und Wahrheit zu trennen. Mit dem Schritt wolle man nun das Vertrauen in die Bank wiederherstellen und die eigene Liquidität stärken. Jetzt könne das Institut seine Geschäfte wieder normal weiterführen. Die Bear-Stearns-Aktien brachen an der New Yorker Börse am Freitag zeitweise um rund 50 Prozent ein - und das innerhalb von Minuten.
"Bear Stearns stand unmittelbar vor dem Abgrund und die Lage war weitaus schlimmer, als wir alle gedacht haben", sagte der Experte Michael Klawitter von Dresdner Kleinwort in Frankfurt. "Man muss sich nun ernsthaft fragen, wie es bei anderen Banken aussieht. Denn Be
Globales Marktgeschehen
Sunday, March 16, 2008 8:12:53 PM
By JEANNINE AVERSA
The Federal Reserve announced a series of new steps Sunday to help provide relief to a spreading credit crisis that threatens to plunge the economy into recession.
The central bank approved a cut to its lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term loans.
The steps are "designed to bolster market liquidity and promote orderly market functioning," the Fed said in a statement. "Liquid well-functioning markets are essential for the promotion of economic growth."
The new lending facility will be available to financial institutions on Monday.
It will be in place for at least six months and "may be extended as conditions warrant," the Fed said. The interest rate will be 3.25 percent and a range of collateral will be accepted to back the loans.
The Fed also approved the financing arrangement announced Sunday in which JPMorgan Chase & Co. will acquire rival Bear Stearns Cos. The deal valued at $236.2 million, a stunning collapse for one of the world's largest and most venerable investment banks. The Fed will provide special financing to JPMorgan Chase for the deal, JPMorgan Chase said. The central bank has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.
Treasury Secretary Henry Paulson said he was pleased by Sunday's developments.
"Last Friday, I said that market participants are addressing challenges and I am pleased with recent developments. I appreciate the additional actions taken this evening by the Federal Reserve to enhance the stability, liquidity and orderliness of our markets," he said.
The Fed's actions are the latest in a recent string of unconventional steps to deal with a worsening credit crisis that has unhinged Wall Street. And, the action comes just two days before the central bank's scheduled meeting on Tuesday, where another big cut to a key interest rate that affects millions of people and businesses is expected to be ordered.
The "discount" rate cut announced Sunday covers only short-term loans that financial institutions get directly from the Federal Reserve.
Even with the Fed's aggressive moves, economic and financial conditions keep deteriorating.
The Fed in recent days has taken extraordinary steps to help banks and Wall Street investment firms survive the stresses of the credit crisis. Financial institutions have racked up multibillion-dollar losses when mortgage-backed investments soured with the collapse of the housing market.
The Fed this past week also said it would pour as much as $200 billion into big Wall Street banks and investment houses and allow them to put up risky home-loan packages as collateral. This maneuver was intended to bring sorely needed relief in the market for mortgage securities. The Fed also has offered as much as $200 billion in short-term loans to banks and large financial institutions.