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Jul
18
Wall Street Post Consecutive Gains
July 18, 2008 | 1 Comment
How long has it been since Wall Street posted consecutive gains? For nearly two weeks, we have seen a rebound only to be followed by more losses the following day.
Well, Wall Street broke out of their trance (posting more than 200 points gains in two sessions) but regional stock markets were still mixed in reaction.
The […]
Jul
12
Wall Street Forsake Financial Stocks
July 12, 2008 | 1 Comment
It was a punitive end to a roller-coaster week. Dow Jones breached 11000 (a first time low in nearly two years) but pulled back to end at 11,100.54, losing 128 points. Standard & Poor’s 500 index lost 1.1% while Nasdaq composite shed 0.8% to remain above March lows.
Trading fears stemmed from possible insolvency of Fannie […]
Jun
30
Oil Speculators Calling The Shots On Wall Street
June 30, 2008 | 4 Comments
I expected bearish sentiments in the stock market for this week because there is simply no good news on the horizon to spark a revival. When I say revival, I mean sustained gains in grounds of over 100 points, not 20-30 points as this usually implies a zigzag pattern for further slides.
Indeed, on the last […]
Jun
27
Inexorable Slide In Stock Market
June 27, 2008 | 2 Comments
The ST Index closed today at 2955.91, down by 25.04 points. Gainers/losers stand at 173/409 while 1.077 billion shares were traded.
No surprise for the red ink given that Dow Jones tumbled 358 points to close at 11,453.42 (its lowest finish since Sept. 11, 2006) due to record high oil prices and fresh troubles brewing in […]
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