- Joined
- Sep 25, 2007
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- 201
Hi all,
An article from the July 1st edition of USA Today. Excerpts:
Hurt by a record-setting run for crude oil and renewed concerns about the health of the banking sector, Wall Street ended a dismal second quarter Monday with blue-chip stocks on the cusp of their first bear market in almost six years.
The Dow is flirting with its first bear market — a drop of 20% or more —since the 2000-02 bursting of the Internet bubble.
The big game changer has been the 38% jump in the price of a barrel of oil to $140 in the April-June period. That helped deepen the economic gloom that arose from the housing bust.
If this turns into an official bear market, it would still be relatively shallow so far compared with the 33 bear markets since 1900, says Ned Davis Research. The Dow has been declining for 262 calendar days, which is shorter than the median bear market of 363 days. Its decline so far also is not as severe as the 26.9% median. That suggests more pain can`t be ruled out, says NDR`s chief investment strategist Tim Hayes.
http://www.usatoday.com/money/markets/2008...irst-half_N.htm
Keith
An article from the July 1st edition of USA Today. Excerpts:
Hurt by a record-setting run for crude oil and renewed concerns about the health of the banking sector, Wall Street ended a dismal second quarter Monday with blue-chip stocks on the cusp of their first bear market in almost six years.
The Dow is flirting with its first bear market — a drop of 20% or more —since the 2000-02 bursting of the Internet bubble.
The big game changer has been the 38% jump in the price of a barrel of oil to $140 in the April-June period. That helped deepen the economic gloom that arose from the housing bust.
If this turns into an official bear market, it would still be relatively shallow so far compared with the 33 bear markets since 1900, says Ned Davis Research. The Dow has been declining for 262 calendar days, which is shorter than the median bear market of 363 days. Its decline so far also is not as severe as the 26.9% median. That suggests more pain can`t be ruled out, says NDR`s chief investment strategist Tim Hayes.
http://www.usatoday.com/money/markets/2008...irst-half_N.htm
Keith
