August 2008 
Sad Events rock markets December 2007
Posted on Aug 19th, 2008
by 
AJF Financial Services
AJF Financial Services
It's so sad what happened to Benazir Bhutto. That clearly is setting the TONE of the markets today. Gold up, Oil up......but the backdrop is still economic. Although you can see the cycle where every time things look bad they cry for more rate cuts.......
U.S. Stocks Drop on Economic Concern; Citigroup, Merrill Fall
By Elizabeth Stanton
Dec. 27 (Bloomberg) -- U.S. stocks fell the most in a week after government reports on durable goods and employment heightened concern growth is slowing and an analyst predicted Citigroup Inc. will cut its dividend by 40 percent.
DuPont Co., International Business Machines Corp. and Microsoft Corp. dropped after orders for durable goods other than transportation equipment declined. Citigroup, the biggest U.S. bank, fell the most in the Dow Jones Industrial Average after Goldman Sachs Group Inc. analyst William F. Tanona also said it may write down more assets.
The Standard & Poor's 500 Index lost 11.51, or 0.8 percent, to 1,486.15 as of 11:05 a.m. in New York. The Dow average decreased 117.3, or 0.9 percent, to 13,434.39. The Nasdaq Composite Index retreated 24.11, or 0.9 percent, to 2,700.3. About five stocks fell for every two that gained on the New York Stock Exchange.
``The economy is definitely weak, and we all know financials are still in the box,'' said John Kornitzer, who manages $6 billion at Kornitzer Capital Management in Shawnee Mission, Kansas. ``It's going to be a tough year.''
Stocks turned lower before the U.S. economic reports were released on concern the assassination of Pakistani opposition leader Benazir Bhutto will further destabilize the region.
U.S. Stocks Drop on Economic Concern; Citigroup, Merrill Fall
By Elizabeth Stanton
Dec. 27 (Bloomberg) -- U.S. stocks fell the most in a week after government reports on durable goods and employment heightened concern growth is slowing and an analyst predicted Citigroup Inc. will cut its dividend by 40 percent.
DuPont Co., International Business Machines Corp. and Microsoft Corp. dropped after orders for durable goods other than transportation equipment declined. Citigroup, the biggest U.S. bank, fell the most in the Dow Jones Industrial Average after Goldman Sachs Group Inc. analyst William F. Tanona also said it may write down more assets.
The Standard & Poor's 500 Index lost 11.51, or 0.8 percent, to 1,486.15 as of 11:05 a.m. in New York. The Dow average decreased 117.3, or 0.9 percent, to 13,434.39. The Nasdaq Composite Index retreated 24.11, or 0.9 percent, to 2,700.3. About five stocks fell for every two that gained on the New York Stock Exchange.
``The economy is definitely weak, and we all know financials are still in the box,'' said John Kornitzer, who manages $6 billion at Kornitzer Capital Management in Shawnee Mission, Kansas. ``It's going to be a tough year.''
Stocks turned lower before the U.S. economic reports were released on concern the assassination of Pakistani opposition leader Benazir Bhutto will further destabilize the region.
Access: Public
