Tuesday’s Market Recap (12/16/08)
December 16, 2008
The Federal Reserve made history today, cutting the overnight lending rate between banks to a range of 0% and 0.25%. This important pledge of support helped spark markets to huge increases as investors took well to the news. The actual rate had been hovering in this range for a while even though it was not the official target, but this rate cut reinforced the Feds commitment to stopping the financial crisis from getting worse. The Dow Jones Industrial Average rose 4.2% and closed Tuesday’s trading session with 8,924 points. The Nasdaq wwasup by 5.41%, and finished 1,589 points. The S&P 500 gained 5.14%, and finished with 913 points. Japan’s Nikkei 225 fell 1.12%, wile Britain’s FTSE 100 went up 0.74% in overseas activity. Read more
Monday’s Market Recap (12/15/08)
December 15, 2008
Markets closed today with bearish activity, as more news came out on the scandal involving Veteran investment manager Bernard Madoff. The list of those exposed to the Ponzi scheme grew as several banks and individuals were added. All three major Indexes suffered losses. The Dow was down 0.75% and closed at 8,564 points for the day. The Nasdaq and S&P 500 were down 2.10% and 1.27% respectively. The Nasdaq finished at 1,508 points, while the S&P finished at 868 points. In the smaller stock index, the Russell 2000, investors traded down as well losing 3.76% and closing at 450 points. In international trading, Britain’s FTSE 100 dropped 0.07% while Japan’s Nikkei 225 was up 5.21%. Read more
Friday’s Market Recap (10/10/2008)
October 10, 2008
Friday’s trading broke from this week’s norm while the Dow only dropped 128 points, or 1.49%, and the Nasdaq closing up 0.27% on the day. This week makes the history books as the Dow’s largest drop in a single week. The Dow ends 18.2% lower this week, topping the previous record loss of 17% in July 1933. High volatility margins were seen today when the Dow’s range topped over a 1,000 point swing. The Dow’s lowest trading point of the day, 7882.51, was only 60 points above the lowest level in the Read more
 
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