WEEKLY FINANCIAL REVIEW: Wall Street Faces Nervous Week
January was bad for stocks.
Bryce Knorr
Published: Feb 3, 2009
Look for financial markets to remain indecisive this week, as Wall Street mulls a terrible start to 2009 and digests a flood of economic and earnings data.
Stocks closed out the first month of the year with their worst January ever. While bad January performance is not always followed by losses for the year, most of the time it is. Certainly there's nothing to indicate a bottom to this market yet, with November lows looming below the Dow now that it's cracked 8000 again.
Unfortunately, the market in may get less information from companies releasing earnings, rather than more. Many firms are no longer giving guidance about future results, due to uncertainty about the financial outlook.
If there's a tone to the economic data out lately, it's that the numbers are not as bad as analysts' estimates. Make no mistake, however, the data is bad.
To read Bryce Knorr's complete weekly financial review, click HERE.
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