Katrina Shankle/Mar. 31, 2008/8:31 p.m./Global Economics
It looks like more woes may lie ahead for the global economy in the wake of the United States subprime mortgage crisis. As March draws to a close, the first quarter for the United States’ financial and stock markets have closed with a disappointment. Treasury secretary Hank Paulson unveiled a new plan in hopes of reorganizing regulation of the nation’s financial markets. The stock market managed a small rally on the heels of this news. Dow Jones closed up forty-six points while the NASDAQ was up eighteen points and the Standard and Poor’s Index finished up five hundred points.
Financial, retail, real estate, and semiconductor stocks were among the highest today. In fact, Citigroup was the day’s Dow Jones leading stock with a 2.8 percent gain. Standard and Poor’s leader of the day was the chip maker Micron Technology which was up 9.5 percent; Fortune Brands also had a good day. Merck, the medical corporation, was the weakest Dow stock of the day.
The first quarter is the weakest it has been for the stock market since 2002. March essentially ended on a flat note for the big indexes.
http://articles.moneycentral.msn.com/Investing/Dispatch/080331markets.aspx
1 comment:
This is something we all have to keep an eye. This is not just for those who hold stock, but it is a reflection of the country as a whole. It may not always be relevant, but we have to try in everyday life to keep our expenses going to as many US companies as possible. This is not to say contracted out US companies, but ones where almost all of the work is done by US labor. And this is very hard in today's age.
Post a Comment