300
22nd February 2008, 07:57 AM
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The Dow Jones fell over 140 points overnight after the Philidelphia Reserve released disappointing news about a fall in manufacturing in the region. More bad economic data was realeased from a Conference Board showing a fourth straight drop in a row. The interesting thing about these figures are that they are historical in nature. So by the time the figures tell you that you are in a recession, you are already in one. It follows on to say that even when the figures tell you that you are in a recession, you might already be coming out of one. So investors again hit the showers early and the market dropped. The is an expectation that the US Fed will be cutting rates by .50 points again in the next meeting. Previously I have said that the US should start seeing the light at the end of the tunnel by the 4th quarter this year.
The ASX finished 50 points higher yesterday after a day where there were highs and lows with a total swing of 100 points.
Just my 2 cents.
The Dow Jones fell over 140 points overnight after the Philidelphia Reserve released disappointing news about a fall in manufacturing in the region. More bad economic data was realeased from a Conference Board showing a fourth straight drop in a row. The interesting thing about these figures are that they are historical in nature. So by the time the figures tell you that you are in a recession, you are already in one. It follows on to say that even when the figures tell you that you are in a recession, you might already be coming out of one. So investors again hit the showers early and the market dropped. The is an expectation that the US Fed will be cutting rates by .50 points again in the next meeting. Previously I have said that the US should start seeing the light at the end of the tunnel by the 4th quarter this year.
The ASX finished 50 points higher yesterday after a day where there were highs and lows with a total swing of 100 points.
Just my 2 cents.