Wachovia's Disappointing Earnings Cause Markets To Drop

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

Disappointing GE Earnings Cause Stock Market To Drop Sharply

Market News: On Friday, April 11, 2008, General Electric Co. (GE) surprised the market with a disappointing first-quarter report. GE said its financial-services division was the main reason for the bad earnings and that its financial-services were hurt by the current credit crisis. GE lowered its projections for the rest of the year. Crude oil prices rose 3 cents to close at $110.14 per barrel. The stock market dropped sharply from these 2 major news.

The following analysis is not a trade recommendation. You are responsible for your own trading decisions.
DOW Trend: DOW transition from up to down, DOW going sideways
NASDAQ Trend: NASDAQ transition from up to down, NASDAQ going sideways
S&P500 Trend: S&P 500 transition from up to down, S&P500 going sideways