Friday, June 6, 2008

Big day in the markets

June 6th: just another day for the markets!

-Dow down almost 400 points (3%)
-Unemployment rate in the US jumps 0.5% to 5.5%
-Oil up $11 (8%)
-Financials hit new lows (BKX index lower than Bear Stearns panic March 17th)
-TSX barely moves (down 26) as higher metals and oils offset by everything else plummeting.

If you are not in a few select areas (oil & gas, fertilizers, steels, a few select techs) you are getting killed. The TSX is "lucky" in that it has some of each (ECA, POT, RIM). Take away a few select stocks, and it is not doing well either.

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