Wednesday, June 22, 2011

DOW Drops On Gloomy Fed News

Not a surprise here, we've been watching the economy start to freeze up over the last two months.

From CNN:
Stocks end lower after the Fed cuts its economic growth forecast. Dow dips 79 points; S&P and Nasdaq each lose 0.6%.
CNN: Fed gloomier about the economy
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2 comments:

Glynn Kalara said...

I guess down on Wall st. they believe their own propaganda that the rest of us would all just dig down deep and catapult the economy into the next phase for them, right? While they enjoyed all the benefits of the ruins they've left behind for us to work with. They're an arrogant bunch down there these days. Loyd B. and his pals can go f*ck themselves! Oh and should I forget they're bought and paid for shills in DC they can take a flying leap as well.

6:08 PM
Jim Sande said...

The short story being told is that the rise in fuel prices has limited spending on - other, discretionary spending as it were. It will be interesting to see in July when we learn oil companies are still raking it in.

6:56 PM

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