Thursday, January 31, 2008
Stocks higher
Stocks had pretty much an up day. The Dow ended up 207 with advancers beating decliners 4-1. But all is not well. MBIA, a prominent bond insurer & one of the very few companies whose bonds are rated AAA, has all but lost the AAA status & may be facing even bigger problems just remaining alive. Dow pulled back in closing minutes related to increased worries about them. Google (GOOG) reported after hours & the market did not take it well, sending the stock down 50 points. This has been a down month for Jan. Since 1950, that measure has predicted a down year for stocks. Traditionally Feb is a flat month. Gold is up to 928 & volatility in the market remains. Watch out for tomorrow's markets.
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