Sunday, March 1, 2009

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.

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