|
|
|
Latest Posts
Last weekend we saw another 2 US banks fold. Although they are small,
Better than expected results from Citigroup, JP Morgan and Wells Fargo initially saw the US stockmarket off to a good start this week.
We’ve seen a bear market rally in the US this week on the back of 3 consecutive days of falls in the oil price.
All 3 major US indices are on bearish ground with the Dow Jones Industrial Average and S&P 500 indices falling more than 20% since the last highest peak.
Record oil prices have taken a toll on the US stockmarket this week.
The US market was in stark contrast to last week’s bullish earnings reports.
The US Federal Reserve has gone from plugging 10 billion dollars or 20 billion dollars in liquidity injections to adding another zero on the figure.
The Federal Reserve announced on Tuesday that they would inject $200 billion into treasuries to try and instill stability into financial markets.
Thornburg Mortgage shares lost more than half their value on Thursday as the result of bankruptcy worries. The lender said that it had defaulted on debt.
In focus this week was Ben Bernanke’s semiannual testimony to the House Financial Services Committee.
|
|
|
|
|
|