Sunday, March 22, 2009

Stock Market's Weekly Recap (Ended March 20th, 2009)

Here is the stock market's weekly recap ended at March 20th, 2009:

- On Monday the stock market, especially bank stocks rose for the fifth day because of the british bank Barclays PLC said that its bank performance at the beginning of 2009. Ben Bernanke also said that he optimist that the recession would probably end at early 2010 if the government can successfully strengthen the banking system.

- On Tuesday, The Department of Commerce said that the construction of new homes increased 22.2 percent from January (became to 583,000 units), core inflation rose 0.2 percent in February, and the Labor Department said the wholesale prices increased 0.1 percent. Harry Reid said Congress will force AIG's executives to pay back some of the $165 million bonuses they received.

- On Wednesday, IBM has made a $6.5 billion offer to buy Sun, which would be IBM's biggest deal ever. On this day, Bernard Maddoff's accountant was also arrested on fraud charges.

- On Thursday, FedEx reported a 75 percent drop in profit because of the global recession. The other news is the Labor Department said although the new claims for jobless benefits fell to 646.000.

- On Friday, Ben Bernanke said in his speech that The Fed will buy treasury securities that aims to revive lending and improve the economy. On the other side Citigroup have splitted its company into two divisions (Citi Holdings and Citicorp). Citigroup also shifted Gary Crittenden as Citi Holdings's chairman, and moved Edward Kelly to become chief financial officer.

On Friday, Dow was closed at 7,278.38, Nasdaq at 1,457.27, and S&P 500 at 768.54.

Let's hope that on next Monday, the stock market will rise again. If the stock market rise more and more, maybe Bernanke's opinion that the recession would probably end at the end of 2009 will becoming real.. So let's hope and always fill your mind with the positive way of thinking!


Talitha Halostar said...

Tiny Tim Geithner and Helicopter Ben Bernanke are going to ruin this country. They both need to GO!

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