Monday, March 30, 2009

A Look At Some Market News

"The White House pushed out GM's chairman and directed Chrysler to move quickly to forge a partnership with Fiat if it expects to receive additional government assistance. GM CEO Wagoner forced out as part of gov't plan. Time and time again, General Motors Corp.'s board of directors reaffirmed its support for Chairman and CEO Rick Wagoner"

"Asian stock markets tumbled Monday as downbeat comments from major U.S. banks and mounting woes at American auto giants underlined that recent optimism about economic recovery might be premature."

"However they satisfy their nicotine cravings, tobacco users are facing a big hit as the single largest federal tobacco tax increase ever takes effect Wednesday ... The major cigarette makers raised prices a couple of weeks ago, partly to offset any drop in profits once the per-pack tax climbs from 39 cents to $1.01."

"President Barack Obama and congressional Democrats are stepping through an economic minefield and sowing the ground with unprecedented initiatives that capitalize on the recession to rein in Wall Street and broaden government's reach."

"The dollar weakened to 96.70 yen Monday"
My view in a word... Change.
In a few words... let's not count on the recession ending any time soon. How can we predict what will happen next?

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