January 8th, 2008
The stock markets had lots of turmoil today.? Initially, the markets staged a rally, but that fell apart in the afternoon.? This year’s start has been one of the worst on record.
There were some rumors about banks in trouble that have proven to be unfounded so far.? The bank of question suffered some serious loss in their stock price and the NYSE even stopped trading on that stock for a short period of time.? Whoever started the rumor should face some serious consequences.
AT&T warned investors that they expect to see “softness” in the consumer end of their business.
Stocked ended up with a loss of -238.? As banks smell blood in the water and are expecting the fed to come to the rescue again, even with a possibility of a 50 Basis Point cut, CD rates have been falling across the board.? It is difficult to find rates above 5%, although we still have a few.
-- By +Chris Duncan