Sunday, January 27, 2008

Asian stocks begin week lower

Asian markets first to open, Japan, Tokyo, Korea, are down 1-2%. Also, they are looking for the FED to lower the Fed Funds rate by 50 basis points.

This weekend, I was thinking about the tax refund package aimed at stimulating the economy. It may not play out quickly, there is a lot of talk about the Senate taking it's time to evaluate the plan. Presidential candidates in the Senate will not be anxious to rush through legislation which they haven't personally approved. Earnings announcements this week will probably be fairly good, but I'm not sure they will carry the day (or week).

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