On Thursday the DOW did a "U" turn. After losing nearly 200 points it flipped to closing up a few points.
Today, its the opposite. The DOW was up about 100 points, now as I write this it is in the red.
The news that Circuit Circuit is going under along with possibly 30,000 of its employees is huge. Unemployment is going over the top. The toll for January seems to be heading to 1 million. This is absolutely stunning.
The weekend is right around the corner. Monday is a holiday and Tuesday we get rid of dufus for good. That has got to count for something.
Reuters: Consumer sentiment improves a little in January
The Reuters/University of Michigan Surveys of Consumers said its preliminary index reading of confidence for January rose to 61.9 from December's 60.1.Gulf News: Job cuts on the rise in Dubai
The early January reading was the highest since 70.3 in September.
Around 3,200 people, among a workforce of more than a million, have lost jobs in Dubai during the last three months...Yahoo: Circuit City to liquidate remaining US stores
The closures could send another 30,000 people into the ranks of the unemployed.Reuters: Oil rises towards $36 as cold boosts demand
2 comments:
Prices of OIL and gas seemed to be somewhat unhinged these days. Prices went up almost 25 cents in a few days but the price of oil plummeted this last week. Did u ever notice how fast it goes up as compared to how it goes down?
There's definitely a lag in prices. We would assume windfalls profits are always welcome.
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