Friday, January 26, 2007
..and Down Again
You know the saying. What goes up.....
The Dow saw its worst loss of 2007, experiencing a triple digit decline. The Dow ended the session with a loss of 119.21 points to 12,502.56. The SPX gave up 16.23 points to end on 1,423.90. We are still on green.
There was concern yesterday about existing home sales and earnings. However the major issue was the concern among equity traders about rising interest rates as bond prices increased.
Earnings will continue to be the focus today, but so will economic data in the form of the new homes sales release and durable goods orders. Traders will be looking for strength in new home sales to help offset the mild decline in existing home sales.
Its been a very volatile week. Without a doubt the worst for some time. Lets hope it gets a bit more quiet today.
Until next time.
The Dow saw its worst loss of 2007, experiencing a triple digit decline. The Dow ended the session with a loss of 119.21 points to 12,502.56. The SPX gave up 16.23 points to end on 1,423.90. We are still on green.
There was concern yesterday about existing home sales and earnings. However the major issue was the concern among equity traders about rising interest rates as bond prices increased.
Earnings will continue to be the focus today, but so will economic data in the form of the new homes sales release and durable goods orders. Traders will be looking for strength in new home sales to help offset the mild decline in existing home sales.
Its been a very volatile week. Without a doubt the worst for some time. Lets hope it gets a bit more quiet today.
Until next time.
# posted by Paul @ 7:05 AM 
