Once again markets are down only slightly, good performance given all the dreary news coming out.
Factories orders had the biggest drop since 2000, down 5.1% in Oct (greater than the 4% rate forecasted).
Factory Orders Post Biggest Drop in Eight Years- AP
AT&T (T), a Dow stock, is laying off more staff.
AT&T to slash 12,000 jobs due to economic downturn- AP
Merrill Lynch is calling for an average price of $50 for oil next year which could include a spike down to 25 on global recession fears. Meanwhile oil is down a little in the 46s.
•Oil May Fall Below $25 Next Year Amid Global Recession, Merrill Lynch Says
Maybe stocks will continue sideways trading today as the auto companies are making their case for a $34B bailout.
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