Asia down oil up and Bernanke in congress
The Dow and most markets have a faltering week as continued signals of recessive difficulties come to light. Tuesday saw Dow Jones Index be a bit stronger with a drop in barely 1 percent compared to S&P500 and Nasdaq stepping down around 1.3 percent.
Closing at 10.282 on Tuesday, The Dow remains close to the magic 10000 and the bearish sentiment is expected to continue. Asia has opened with drops, with Nikkei 255 leading the way at about a percent and a half. Toyota is a culprit but US consumer sentiment is also having an effect on Asian markets. Shanghai seems to moving against the trend.
We have been expecting a bumpy week and Ben Bernanke is back in the spotlight with the semiannual report to Congress. This is a biggie so keep an eye on that. Takes place today and Thursday.
We expect the Dow to continue sideways if not down.
Related posts:
- Rebound on Asia lead and easing Goldman concerns
- Huge surge on European and Asian markets
- Oil and metal retreat a sign of what is to come?
- Do stock charts reflect Bernanke’s popularity?
- Dow Jones sideways movements
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