Another Day On Wall Street!

I wonder what this day will be like on Wall Street. Right after yesterday’s report that the U.S economy is in a recession the Dow dropped to one of it’s worst days. The U.S markets are heading for a higher open today, but will it last. I don’t think so; there are just too many scared investors out there. Once one bad report comes out investors start dumping their stocks. And most of the time the bad report has nothing to do what they’re investing in, they’re just scared. And this is one of the biggest reasons why we have all these problems. We all have ourselves to blame for the economy going into a recession. When we stop spending our money business around us start to collapse. And most of those businesses are small businesses. Most small businesses can’t stay a float after 6 months of low sales. And since small businesses make up most of all U.S jobs our unemployment raises because of layoffs. We need to come together as a nation and start supporting each other. And the way you can support your local businesses is just simply purchase their products and services. If we don’t help each other things are only going to get much worst before better.

Global Problem!

So far the out look for Wall Street looks like its going to have a lower open today. And around the world the Asian markets closed pretty much flat today. The European markets are down right now and look to finish flat as well. With the out come of black Friday I think and hope the U.S market will show good gains today. I heard that there was a 2 to 3 percent increase in sales over last year. But with the deep discounts it will cut into retailer’s profits. If retailers have a great Cyber Monday it could move a lot of them into the black for the year. With all this holiday shopping it could very well stop the recession from becoming official. Although the chance of that happening are slim. Everyone already knows where in a recession, heck we’ve been a recession for the last 3 months. The thing is no one wants to admit it officially. Lets hope for a good day on Wall Street and days to come.

Biggest Five Day Rally!

I was just reading that Wall Street had its biggest five-day rally in more than 75 years. Some of the big reason’s for the rally was because President-elect Barack Obama named his economic team and of course the big loan to Citigroup. And let’s not forget that the Federal Reserve finally decided to buy those bad mortgage-backed securities. I don’t know if those where some of the best choices, but it worked for now. If buying the bad mortgage-backed securities don’t work it’s going to cost us an arm and a leg, so lets hope this idea works. I also hope next week brings similar results, because we sure need it. Also next week will have a few reports coming out, like the employment report from the Labor Department. A report like the employment report could really swing the markets, so lets hope this report comes out good.

Economy In Crisis!

Today President-elect Barack Obama released his team of top economic advisers. And once again it’s more of former President Bill Clinton’s people. Is this the real change Obama is bringing to the White House? Anyway, he also stated that he would remain on course with what the Bush administration had started with rescuing the financial markets. He also want’s to have a new stimulus package passed right away to help create jobs. Some people think this will cost another $700 billion over the next couple of years. If you ask me it looks like more money is being tossed around again. And where in the world are we going to come up with all this money for another stimulus package. Before we know it our money is going to be worthless. I sure hope he knows what he’s doing, because if not things are going to get much worst.