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Monday, 09 March 2009 13:02:19 GMT
Written by John Rivera, Analyst
Full Article
The U.K. government taking over Lloyds Global Bank has fueled concerns over the banking system and has financials on the run. The news along with a story that AIG warned that their failure would cripple world banks has markets worried that the dire prediction could still come to fruition. A blockbuster merger between drug giants Merk and Schering-Plough has failed to spark any excitement amongst traders as futures remained down triple digits after the announcement. Also weighing on the markets is the recent call for the end of aide to the auto industry. Se. John McCain said the best thing for GM would be to go into Chapter 11. Traders may start to hedge their bets today in anticipation of the fallout of such a move which could lead to further weakness in related industries.
Dow Jones 6626.94
The DJIA is looking to resume its recent downtrend after a small gain on Friday led by industrials and consumer goods. Merk’s merger with Schering-Plough could weigh on its stock as it paid a premium for the fellow drugmaker. Financials should continue to trade lower on the banking concerns, with energy names suffering from lower oil prices.
NASDAQ 1293.85
The Nasdaq continued its losses as consumer services and technology stocks traded lower. The IMF’s recent prediction that the global economy will enter its first recession since WWII could be a weighing factor on equities today as
S&P 500 983.38
The S&P 500 is looking at lower open as financials may be weighed by the U.K. banking troubles and AIG’s warning.
Current Snap Shot
CFDTrading provides news on the economic reports and political events that influence the CFD traders.
Written by John Rivera, Analyst
Full Article
The U.K. government taking over Lloyds Global Bank has fueled concerns over the banking system and has financials on the run. The news along with a story that AIG warned that their failure would cripple world banks has markets worried that the dire prediction could still come to fruition. A blockbuster merger between drug giants Merk and Schering-Plough has failed to spark any excitement amongst traders as futures remained down triple digits after the announcement. Also weighing on the markets is the recent call for the end of aide to the auto industry. Se. John McCain said the best thing for GM would be to go into Chapter 11. Traders may start to hedge their bets today in anticipation of the fallout of such a move which could lead to further weakness in related industries.
Dow Jones 6626.94
The DJIA is looking to resume its recent downtrend after a small gain on Friday led by industrials and consumer goods. Merk’s merger with Schering-Plough could weigh on its stock as it paid a premium for the fellow drugmaker. Financials should continue to trade lower on the banking concerns, with energy names suffering from lower oil prices.
NASDAQ 1293.85
The Nasdaq continued its losses as consumer services and technology stocks traded lower. The IMF’s recent prediction that the global economy will enter its first recession since WWII could be a weighing factor on equities today as
S&P 500 983.38
The S&P 500 is looking at lower open as financials may be weighed by the U.K. banking troubles and AIG’s warning.
Current Snap Shot
CFDTrading provides news on the economic reports and political events that influence the CFD traders.