Current Stock Index Futures are pointing to a 100 point loss or roughly 1.5% downdraft on the open on weakness from European and Asian Markets. Spain is officially in a recession.
Continuing unemployment claims were in in-line with expectations, but continuing claims increased more then expectations. On a positive note, Retail Sales were very strong in January rising 1%. Stock Futures have sold off badly here the last 3o minutes as there is just more and more bad news flow in the financials. The Wall Street Journal has an article about the troubles in the $700 billion Hybrid Securities Market. More negative stuff about the state of the Commercial Real Estate market as well.
No comments:
Post a Comment