Friday News
All markets moved sideways today. Oil continues its move toward $100 again. Generally, today was a pretty boring day.
In the news today….
Industrial Output was up 0.1% in January over December. This is the same as December, and fairly poor movement. Just another confirmation of a potential recession.
Alan Greenspan said that we were “on the edge of a recession” last night. This is the most negative that Alan has even been on the economy.
Import prices increased 13.7% in the last year. This means that all imported goods will continue to increase in price. This is not good news for the inflation numbers.
All in all, the news was pretty bad today, BUT the market didn’t react to it. Irrational !!! That’s explains the market.
Here are today’s Numbers:
Dow Jones 30 Industrial – 12,348 (Down 29 points)
10 Year Treasury Bond – 3.78% (Down 0.04%)
Euro – $1.4686
Gold – $906 (Down $5)
Oil – $95.50 (Up $0.04)
Gasoline – $2.49 (Up $0.02)
