Wall Street: Teetering on 12-year lows

Wall Street: Teetering on 12-year lows
As the Dow and S&P 500 hover near '97 levels, investors brace for a barrage of economic news and watch for the latest from Washington.

As the month of February ends we look at dismal numbers amongst nearly all of the

indices including the DJIA, the S&P 500 and the Nasdaq. Reasons for this decline range from the

poor housing market, the credit crisis and the unfortunate banking troubles that our economy is

facing. President Barack Obama has created plans for an attempted rescue of the economy by

infusing the economy with 750 Billion dollars worth of tax relief money, subsidies and

government spending in the hopes that the economy will enjoy a temporary boost from the

infusion of money. The stock market itself is flailing around in an attempt to rectify itself but has

only been able to stabilize itself before plunging once again all the way to numbers that it was

posting back in ’97. As new news comes out about company forecasts and overall economic

status we hope that this allows the ticker to go into the green. What traders and technicians are

hoping for is a rally to form soon as the numbers that were previously thought to be the bottom

of the Bear Market are now looking good in comparison to the current market.

http://money.cnn.com/2009/03/01/markets/markets_weekahead/index.htm?cnn=yes