Portfolio Crafter
12-05-2007, 05:59 AM
End of Day Market Summary - Monday, December 3, 2007
by Portfolio Crafter (http://www.wealthpire.com/cmd.php?Clk=1838416)
It was a difficult day for the market. The Dow declined 0.4 percent to close at 13,314.57. Also, the Nasdaq declined 23.83 points to close at 2,637.13. Besides, the S&P 500 had a decline of 8.72 points to close at 1,472.42. The decrease in the market can be blamed to concerns from investors about the housing market as well as the credit markets. Today, the government announced that it will provide economic help to subprime mortgage lenders.
Henry Paulson, treasury secretary, provided a summary of steps that the government is taking to help homeowners. Although, Mr. Paulson's comments relieved some concerns among investors about interest rates, but markets still closed in red. Investors are still waiting for more financial data about financial markets in the coming days.
More news about housing problems includes the worries for performance of Lennar and Morgan Stanley that showed a decline this morning. Also, GM shares fell about 4 percent after news showed that there was a drop in November sales instead of an increase in sales.
Finally, some companies whose shares rose today were the following: Activision Inc, which increased $2.82 or 13 percent to close at $24.97 and Centex Corp. that increased 4.8 percent to close at $21.85. Vivendi agreed to buy a controlling stake in the maker of the "Guitar Hero" music simulator for $9.8 billion to create the world's largest maker of video games
More reports are due later this week on consumer sentiment and factory orders.
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by Portfolio Crafter (http://www.wealthpire.com/cmd.php?Clk=1838416)
It was a difficult day for the market. The Dow declined 0.4 percent to close at 13,314.57. Also, the Nasdaq declined 23.83 points to close at 2,637.13. Besides, the S&P 500 had a decline of 8.72 points to close at 1,472.42. The decrease in the market can be blamed to concerns from investors about the housing market as well as the credit markets. Today, the government announced that it will provide economic help to subprime mortgage lenders.
Henry Paulson, treasury secretary, provided a summary of steps that the government is taking to help homeowners. Although, Mr. Paulson's comments relieved some concerns among investors about interest rates, but markets still closed in red. Investors are still waiting for more financial data about financial markets in the coming days.
More news about housing problems includes the worries for performance of Lennar and Morgan Stanley that showed a decline this morning. Also, GM shares fell about 4 percent after news showed that there was a drop in November sales instead of an increase in sales.
Finally, some companies whose shares rose today were the following: Activision Inc, which increased $2.82 or 13 percent to close at $24.97 and Centex Corp. that increased 4.8 percent to close at $21.85. Vivendi agreed to buy a controlling stake in the maker of the "Guitar Hero" music simulator for $9.8 billion to create the world's largest maker of video games
More reports are due later this week on consumer sentiment and factory orders.
Join PortfolioCrafter.com (http://www.wealthpire.com/cmd.php?Clk=1838416)
Join FirstHourTrading.com (http://www.wealthpire.com/cmd.php?Clk=1841176)