Not much good economic news out there today. We've kind of settled in on MSNBC's "Morning Joe" program as we get ready each day. I like the way they continue the time-honored tradition of showcasing what major newspapers are reporting and opining on. Go ahead. Laugh. We probably ARE the two people watching somedays! I also have grown to like the economic analysis that Erin Burnett from CNBC provides during the show. She mentioned today that there would be a bunch of negative news coming out on this Friday. No kidding. Just take a look at the trio of downers that showed up almost within minutes of each other in bloglines today - all from the New York Times -
Earnings Reports Trigger Steep Stock Sell-Off
The Dow was down more than 200 points at one point today as earnings reports from Wachovia and Caterpillar disappointed [...]
Twenty years ago, the stock market plunged in the greatest one-day percentage drop on [...]
DealBook: Wachovia’s Credit-Crunch Bill
Another bank took an ax to its asset valuations Friday, as the parade of markdowns induced by the recent credit crunch continued. The latest ten-digit chop came from Wachovia Bank, which said it wrote down loans and other securities by a total of $1.3 billion in the third quarter, contributing to an overall profit decline [...]
Bonus post, not from the NYT -
Great. Another big stock selloff on my birthday. Technical traders, take note. Actually, there are really starting to be some bad signs out there. Last quarter, corporate earnings kept the stock market in decent shape despite the subprime mortgage [...]
By the way, in case you haven't forced yourself to look, the market closed down 370 points. Three - seven - zero.
Tags: Economy, Stock Market, Wall Street, Wachovia, Caterpillar
Powered by Qumana
Posts
0 comments:
Post a Comment