Stock Market Update -Jan 11th

We got more bad news from the jobs report on Friday, showing an unemployment rate of 7.2%, a loss of 524,000 jobs in December, and the worst year for job losses since 1945 (2.6 million jobs lost in 2008). We also got word of more investment fraud, this time from Satyam Computer in India. Oil prices fell this week after hitting $50 per barrel.


Next week we begin to get earnings reports from some of the big companies. We also have Options expiration on Friday.

World stocks drop as US jobless rate hits 7.2 pct
Unemployment Hits 7.2 Percent: Mounting Job Losses Point to More to Come (video)
Manufacturing Collapse Reminiscent of Great Depression's Beginning
Consumer bankruptcies jump in 2008
The Worst-Performing ETFs of 2008
Macy's to close 11 stores, cuts forecast
Wall Street braces for weak earnings season

Rate on 30-year fixed-rate mortgage hits new low
Home buyers advised to look before they leap
Why Banks Still Won't Lend
The Things We Don't Talk About: National Debt and $2 Trillion Deficits
The $8 trillion bailout
Bill Gross: Entire US economy is a Ponzi scheme
The failure of our 401(k)s
Six Lessons for Investors