Wednesday, December 09, 2009
Greece Going Bust?
All markets saw losses Tuesday on concerns about the economic recovery and fears for Greece and Dubai. The Dow lost 104.14 points to close at 10,285.97. The SPX declined 11.31 points to end on 1,091.94. We are in the green and looking ok.
Disappointing comments from several corporate giants hurt stocks. Traders are concerned that the government has done all they can to spur growth and that it might fall short. The dollar moved higher on the session, even though Fed Chairman Bernanke stated Monday that rates would remain low for an extended period of time. Oil prices suffered on economic worries with crude down $1.31 a barrel to $72.62.
President Obama spoke about plans at increasing jobs in the U.S. This would include tax cuts for small businesses and additional infrastructure spending. The President is proposing that TARP funds that are being paid back could be used to fund these initiatives. The government stated Monday that TARP would not cost the American tax payer nearly as much as initially anticipated.
Until next time.
Disappointing comments from several corporate giants hurt stocks. Traders are concerned that the government has done all they can to spur growth and that it might fall short. The dollar moved higher on the session, even though Fed Chairman Bernanke stated Monday that rates would remain low for an extended period of time. Oil prices suffered on economic worries with crude down $1.31 a barrel to $72.62.
President Obama spoke about plans at increasing jobs in the U.S. This would include tax cuts for small businesses and additional infrastructure spending. The President is proposing that TARP funds that are being paid back could be used to fund these initiatives. The government stated Monday that TARP would not cost the American tax payer nearly as much as initially anticipated.
Until next time.
# posted by Paul @ 6:54 AM 
