Posts Tagged 'Shapiro'

Dow Will Fall

European and Asian losses, as well as the fall of futures indicators, all point to a continuation of the downward trend, with metals and oil companies especially hit by fears of further cuts in demand.

Expected news of a rescue deal that will allow automakers to survive into 2009 and Obama’s vow of tightened regulation in the wake of the welcomed nomination of Mary Shapiro to oversee the SEC will stop the Dow from sliding even further, but will overall be insufficient to offset the flow of negative sentiment flooding the market.

Assessment:

Expect a day of continued losses, with a moderate upturn if a automakers rescue deal is announced before the closing bell.

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