Thursday, January 08, 2009

Nikkei Opens Lower On Friday

The DOW almost closed even today losing a few dozen points while the S&P gained a few points.

Overall I was surprised to see that the losses were not greater. I believe Obama's speech in Virginia earlier today helped prop up the market which for a short time seemed like it was heading for a fall similar to Wednesday.

Reuters: Nikkei down in seesaw trade as yen and TDK weigh
Fears about the U.S. economy fanned by bleak holiday retail sales figures helped send investors into defensive shares such as toiletry goods maker Kao Corp and drugmakers, braking the market's fall.

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