U.S. stocks opened lower on Friday on worries the U.S. economy may be on the cusp of recession after disappointing quarterly results from American International Group Inc (AIG.N: Quote, Profile, Research) and Dell Inc (DELL.O: Quote, Profile, Research). The Dow Jones industrial average .DJI was down 134.33 points, or 1.07 percent, at 12,447.85. The Standard & Poor's 500 Index .SPX was down 12.04 points, or 0.88 percent, at 1,355.64. The Nasdaq Composite Index .IXIC was down 22.54 points, or 0.97 percent, at 2,309.03. If you have money invested, it's smart to be bearish. Hopefully consumer spending will pick up as Summer approaches!
Friday, February 29, 2008
From Recess to Recession!
U.S. stocks opened lower on Friday on worries the U.S. economy may be on the cusp of recession after disappointing quarterly results from American International Group Inc (AIG.N: Quote, Profile, Research) and Dell Inc (DELL.O: Quote, Profile, Research). The Dow Jones industrial average .DJI was down 134.33 points, or 1.07 percent, at 12,447.85. The Standard & Poor's 500 Index .SPX was down 12.04 points, or 0.88 percent, at 1,355.64. The Nasdaq Composite Index .IXIC was down 22.54 points, or 0.97 percent, at 2,309.03. If you have money invested, it's smart to be bearish. Hopefully consumer spending will pick up as Summer approaches!
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