Fannie Mae (FNM) slipped after cutting the dividend and selling preferred stock to raise capital. OPEC met & decided not to increase oil production which generally would send oil prices down. Among other things, they are worried about sub prime problems. Oil remains around 89.
Wednesday, December 5, 2007
Up on good economic news
Even with the Dow up 173 today, the chart below shows it's been pretty much sideways in the last 5 days after a big runup in the middle of last week. Economic data showing the economy is strong brought out the buyers today. But I'm not sure how to reconcile that with an interest rate cut next week because the economy needs help. Looks like today will be another major up day.
Fannie Mae (FNM) slipped after cutting the dividend and selling preferred stock to raise capital. OPEC met & decided not to increase oil production which generally would send oil prices down. Among other things, they are worried about sub prime problems. Oil remains around 89.
Fannie Mae (FNM) slipped after cutting the dividend and selling preferred stock to raise capital. OPEC met & decided not to increase oil production which generally would send oil prices down. Among other things, they are worried about sub prime problems. Oil remains around 89.
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