Credit Suisse has decided that something is a amiss in the housing sector this morning and cut the ratings on the group. They are listed below.
Jon C. Ogg
September 9, 2008
Microsoft (MSFT) is about to launch its latest version of the Zune multimedia player. To date the company has sold two million units. In contrast, Apple (AAPL) has sold over 150 million iPods.
Microsoft has a chance to kill the Zune with a good excuse. By cutting prices on its Xbox 360 last week, it is putting pressure on the margins of its "devices" division.
Saudi Arabia carries the big lumber at OPEC meetings. It is the largest oil producer in the cartel. Its government is one of the most stable, especially when contrasted to nations such as Venezuela.
At the current meeting of OPEC members Saudi Arabia’s Oil Minister Ali al- Naimi said the crude market is “well balanced” and inventories are in a “healthy position,” according to a report from Bloomberg.
OPEC is going to keep supplies where they are. It is a calculated gamble that prices will go higher without producing nations taking the blame.
In community college Economics 101 students learn that there can be dips in bull markets. Usually these are caused by a single event like a change in the party that runs Congress. The same holds true for bear markets. Suckers jump in on one piece of news or another. The market spikes up. A week later, it’s gone.
The Fannie Mae (FNM) and Freddie Mac (FRE) rescue pushed the market higher and may do so for a few days. In Asia, they know better. The rally never made it beyond the first 24 hours. Markets turned down in Day Two.
According to Reuters, the bailout of Fannie Mae and Freddie Mac (FRE) was greeted with cautious optimism.
Reuters says the the Justice Department has hired a litigator to look into antitrust issues at Google (GOOG).
The Boeing (BA) strike is having an impact on suppliers and customers around the world, according to Reuters.
Most market is Asia fell
The Nikkei was off 1.8% to 12.402
The Hang Seng fell 1.9% to 20,406.
The Shanghai Composite rose 1% to 2,146.
Data from Reuters
Douglas A. McIntyre
| Today’s top tickerspy Indexes | |
| Domestic Telecom ... | +2.6% |
| Stem Cell Stocks | +2.3% |
| Pain Management S... | +2.1% |
| Ethanol and Biofu... | +1.9% |
| Savings and Loan ... | +1.8% |
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