And the Bears are off!
The bears continued a sell off today, as the mortgage woes of the housing industry started to creep into credit card debt and other areas of the loan industry. After a huge sell off on Friday of last week, the US markets are once again looking toward a negative week on Wall Street. However, talk of a recession is still skeptical. Usually when the housing market sees a slump, a recession has followed according to history. However, with world markets strong, and a continual adding of jobs in the US, the problem right now is more with a week dollar and outstanding debt. The recent rise of tensions in the middle east has also driven the price of oil up to above $90, but it has slowly been creeping back down to below $88. Over the next two weeks, consumers in the US could see a rise of about $.20 in the price at the pump due to this recent rise. Look for the markets today to be a good example of what the week will be like. This could start being a good time to look into investing in some stocks that might rebound later.
Post a Comment
You must be logged in to post a comment.