Three things are coming up that will affect the mood of the market.
- The continued watch over the Big Three and whether or not they get federal money. (I bet they get something.)
- The last meeting of the Fed for this year which will let everyone know about interest rates etc etc.
- Reports from some major banks which no doubt will be ugly.
On the good side, Obama keeps getting the word out that he is intent on an economic recovery plan.
Nothing shocks us at this point including a drop below 7000 for the DOW.
Reuters: Stocks may brake for GM, Fed, Goldman
Wall Street's recovery push from 11-year lows could hit major speed bumps next week as investors fret about the U.S. automakers' fate and the Federal Reserve holds its last scheduled policy meeting of 2008.
The market's other big test will be the start of the quarterly reporting season for investment banks when Goldman Sachs and Morgan Stanley report results that most expect will show heavy losses.
1 comment:
January 2009 is going to be very interesting. My guess is the market will rise in anticipation of the new regime and then plummet after they take office and nada happens for mos. as the new guys proceed to have endless meetings , debates and lobster lunches with lobbyists. I've already discounted change as nothing more then a slogan. Just having BV$H and his idiots gone will be the change, anything else will be gratis.
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