Airtime: Mon. Oct. 11 2010 | 4:12 PM ET
Billionaire investor George Soros tells CNBC the world is headed toward an economic slowdown in 2011 and politics is going to prevent US leaders from passing much needed fiscal stimulus.
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE.
Some hotel properties are managing to buck the downturn, with Stephen Bartolin, The Broadmoor, and John Scott, Rosewood Hotels & Resorts.
“As far as I’m concerned the technicals are in tact, says Guy Adami. We said the S&P would over-correct to the upside and trade up to 1130 and then turn lower — and it did. Now we’re likely in the next leg lower. We have to see what happens as the S&P trades down to the lower end of the range – around 1040 – will it hold next time we test it?
The patterns in the S&P suggest that support will not hold this time, adds Oppenheimer’s Carter Worth. My persumption is we break lower. I think we go to 980. I don’t think a great crash is coming but we are clearly entering a period when the downside should be the focus of investors.”
Starting today, underwater homeowners will be permitted under a government program to sell their homes for less than they owe and basically force the lender to take the loss rather than foreclose on the home. Shari Olefson, of Fowler White Boggs, and Susan Wachter, a real estate professor at Wharton, discuss.
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE.
Dick Bove Reacts to FinReg