News That Moved Friday's Market
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U.S. Markets
Dow -120.90 (-0.94%)
Nasdaq -5.72 (-0.23%)
S&P 500 -9.40 (-0.67%)
News That Moved the Market
Sellers Grab Control. Markets stumbled Friday, finishing the week lower. Buyers gave back hard fought gains quickly throughout the day, and never really traded out of the red. Late Thursday, AIG (AIG, -8.7%) announced an $8 billion loss for the quarter. The company is planning to raise more than $12 billion through common stock and equity linked securities offerings. Oil closed up $2.27 at $125.96/barrel. Technicians have said $126 should offer from resistance, but it is tough to bet against crude's momentum. Oil set all-time closing highs everyday this week.
Quick Tics: FedEx (FDX, -3.0% day, -3.3% A.H.) fell late Friday after lowering its profit outlook, citing rising fuel costs...The U.S.'s trade deficit came in at $58.2 billion, lower than economist expected…Citigroup (C, -2.8%) plans to shed $400 billion in assets over the next two or three years.
Tomorrow
Notable Earnings (Full List Here):
MBIA (MBIA) Time Not Supplied
Economic Events:
2:00 PM: Treasury Budget
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This article has 6 comments:
ragmatist
As to waiting for a new administration in November, there is little “hope for change” for the better. If a Democrat wins the Presidency, expect massive taxes and a concerted effort to move the country toward socialism. If the Repubs dominate, little will change in the current situation. Now, is the time to come to the aid of the country with a viable, knowledgeable, dedicated towards We the People government and representation. Is there a Third Party that can provide this as the current two are hapless and ignorant?
Note to the electorate: Yes, your Congressperson is incompetent, stupid, corrupt, self-interested, and hapless. Just like all the others.
Christopher