Next week: Earnings season kicks off with some of the big banks and brokers reporting (JPMorgan Chase, Merrill Lynch, Citigroup). If you are itching to buy financial stocks, wait until after the earnings reports -if the news is good you will have plenty of time to participate in the rebound (it's a long way back up), if there is more bad news we could see further selling. We will also get earnings from some big technology names (Intel, IBM, Google), and we get the CPI report on inflation as well so it should be a busy week. So far, the downtrend from October continues.
Now that the 1st quarter is over here is a snapshot of the S&P 500 compared to some other markets and sectors -Financials lead the way down (if you compress the chart to just the past 6 months, China actually leads the way down), while Brazil is the clear leader.
News stories:
Banks set to stumble again
Wachovia Is Said to Raise Billions Amid Credit Losses
Credit losses could approach $1 trillion: IMF
Central Banks Signal Deepening Concern as G-7 Meets
World's economic leaders look to avert crises
Paulson: Housing Is Still Biggest Threat to Economy
U.S. lenders freeze home equity credit lines
Fed auctions another $50 billion to cash-strapped banks
Lehman liquidates three funds
Frontier Airlines Files for Bankruptcy
Dollar Must Fall Further: Economic Bureau's Feldstein
Danger ahead for the mighty euro
Yuan hits milestone vs. dollar
Other stories:
Hollywood legend Charlton Heston dead at 84
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.
Posts
No comments:
Post a Comment