Stocks keep waffling in what looks like it will be a day when little is decided. Dow is up 58, advancers ahead of decliners 3-2 while NAZ is up 31. The S&P 500 is up 6 but the FINANCIALS INDEX & other indices I follow are flattish.
This is a good time to look at stock performance. The S&P 500 has had one of its worst years, not to mention its worst Nov. These are rough times.
26 Nov 2008.....863 (midday)
31 Oct 2008......969
31 Dec 2007....1468
General Motors (GM) bonds are trading around 20¢ on the dollar. Bond holders such as Pimco may have to endure huge losses as part of a potential bailout plan for GM, one more huge headache to deal with.
•Pimco, Franklin GM Debt May Lose 75% of Face Value in Government Aid Deal
This week stocks have been absorbing very well the ugly economic news being reported. Dow is on a 3 day winning streak, trying to make it 4 in a row. However they are coming off extremely oversold markets. Markets close at 1PM EST on Fri, not a lot is expected then.
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