Cautious behavior today takes control of stocks. After a very good week, Dow is down 74, decliners ahead of advancers 4-3 & NAZ dropped 19. The Commerce Dept reported factory orders gained 2.3% in Dec, the biggest gain since July. But that failed to inspire buying. The market is still chewing over the effects of Microsoft (MSFT) buying Yahoo (YHOO). I'm sure Google (GOOG) would like to argue, but it's hard for them to get much sympathy considering their size.
President Bush announced a $3.1 trillion budget. However, the economic stimulus package with tax cuts is working it's way thru the Senate. They promised it would be approved by Feb 15, that's next week. In the meantime, it looks like last week the market had a rally in a trading range.
This is coming from my new computer. The back lighting for the screen on the other went, I figured time to try new Windows.
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