Read the Bills Act Coalition

Wednesday, January 23, 2008

Black Tuesday, I think not

After a early drop of 465 points, the Dow recovered to a manageable 100 point loss today after the Fed instituted an emergency interest rate cut in hopes of restoring stability to a perceived wavering U.S. economy. To recover completely, Wall Street needs to see strong economic data and solid earnings from the big multinational companies like Microsoft Corp., AT&T Inc., Caterpillar Inc. and Honeywell International Inc. The market also needs to hear that financial institutions like Citigroup Inc. (C) and Merrill Lynch & Co. (MERPO), which have lost billions due to investments in failed mortgages, are on their way to solid earnings as well. The broader Standard & Poor's 500 index was off 14.42, or 1.09 percent, at 1,310.77, while the Nasdaq composite index fell 42.08, or 2.30 percent, to 2,297.94. The market at it worse is seeing a correction and there is not a recession happening, this market fluctuation is being exploited by the press because it is an election year and we need dire straights so the candidates the press feels should be elected are...and we all know what party those candidates belong too.

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