Market News: On Monday, April 14, 2008, Wachovia reported disappointing first quarter earnings of a $393 million loss. Wachovia plans to raise $7 billion through a stock offering and cut its quarterly dividend by 41% to 37.5 cents. Light, sweet crude rose $1.62 to close at $111.76 per barrel. Wachovia and last Friday's GE news caused panic of the banking sector. The stock markets dropped due to these concerns.
The following analysis is not a trade recommendation. You are responsible for your own trading decisions.
DOW Trend: DOW transitioning from up to down, DOW going sideways
NASDAQ Trend: NASDAQ transitioning from up to down, NASDAQ going sideways
S&P500 Trend: S&P500 transitioning from up to down, S&P500 going sideways
Tuesday, April 15, 2008
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