Posts Tagged ‘Dow 30’

Market Snapshot

March 2nd, 2009

In early trading this morning, the Dow fell below 7,000 for the first time since 1997, as Stocks are trading lower on fears that the recession is getting worse.

Also pressuring Stocks lower is news that insurance giant AIG lost more than $61 Billion in the 4th quarter of 2008–which is the biggest loss ever for a US company. As a result, the government is preparing to provide AIG with a $30 Billion line of credit using money set aside from the TARP fund created last year.

Despite the drop in Stocks, Bonds are trading near unchanged levels.

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

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Market Snapshot

February 24th, 2009

Stock prices plunged yesterday, sending the Dow to levels not seen since 1997. Mortgage Bonds, however, were unable to gain much, as tough overhead resistance and the enormous supply of Bonds kept a cap on prices.

In the news today, Consumer Confidence fell to its lowest reading since records began in 1967. The sour report indicates that the fear of losing one’s job has made the consumer more reluctant to spend.

Currently, Stocks appear ready to bounce higher. This would be a positive development for Stocks, but may come at the expense of Mortgage Bonds.

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

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