Stocks log first weekly loss since early May

Stocks log first weekly loss since early May

www.google.com

NEW YORK (AP) — Caution has once again overcome the stock market.

Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The market began the day stronger, following surprisingly good reports the day before on jobs and manufacturing. But the early gains gave way to selling in the afternoon, saddling the Dow Jones industrials with four days of losses over the past five.

(visit the link for the full news article)

So any ideas on what this is indicative of?


Iran? Korea? The second coming of the collapse?

The article goes on to say...

Stocks tumbled early in the week as a handful of weak economic reports, including news of a seventh straight monthly drop in industrial production, bucked sharply with the gradual improvement traders had grown used to with other economic readings.

www.google.com
(visit the link for the full news article)

I had gains today.
Can't say for the week.
You just can't get too many options for software accounting.

reply to post by HunkaHunka


Well, according to some of the other threads I've been reading a complete economic collapse will happen this year. However...I sell advertising for a living to small businesses all over the nation and the business owners are starting to buy again.Once last winter, out of 150 calls to auto repair businesses, 100 of them were disconnected. I'm not seeing that now.

You've got to be kidding me "second economic collapse"...In no way can a week's worth of stock performance be extrapolated to make such a conjecture. I'm not saying that another economic collapse is far-fetched, I'm simply stating that there is no clear direction for the market right now. Economic data has been mixed...as a general note, take that article with a grain of salt.

LOL

These type of threads are getting out of line.

We are up 17% (or 14%, cant remember) in the NASDAQ this year guys!

But yes, the 2nd coming.... beware!!!



[edit on 19-6-2009 by GreenBicMan]

Yep... I don't see a second collapse coming but a lot of others do...

I think the long term indicators are strong :-)

Kinda like the fundamentals of our economy :-)