From Monday the 3rd, through election day, to Friday the 7th- Here is the news for this week’s economy.
Monday- November 3, 2008
Open: 9,326.04 Close: 9319.83
“Rescue Cash Lures Thousands of Banks”
As the new rescue plan continues to be presented, even banks that are not in need of further funding are seeking it because of fear that if they don’t, the market will view them as having been too unhealthy to qualify.
Tuesday- November 4, 2008
Open: 9323.89 Close:9625.28
“US weighs Purchasing Stakes in more Firms”
While the economy continues to sour, the Feds begin to consider purchasing stakes in companies aside from just the banking industry.
Wednesday- November 5, 2008
Open: 9616.60 Close: 9086.06
“Denmark pushes vote to Adopt Euro”
As the economy falls further- the world view on stronger currencies like the Euro begin to grow sweeter. Denmark began pushing for a vote to adopt the Euro as their new currency.
Thursday- November 6, 2008
Open: 9134.01 Close: 8695.79
“New Debt could Hamstring Obama”
As the coming weeks unfold, American debt is skyrocketing to record levels and may have a negative effect on Obama’s economic plans.
Friday- November 7, 2008
Open: 8696.03 Close: 8943.81
“Securities Firms Tackle Pay Issue”
Europe began slashing its rates- the Bank of England dropping their rates a full 1.5% - and American Democrats begin putting together a plan to inject a further $100 Billion into the economy.