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14 November 2008

Market Insights

Here are some market headlines for November 14th.

  • Retail sales dropped most on record in October, a whopping 2.8%.
  • Freddie Mac lost over $25 billion and is seeking $13.8 billion in funding as their net worth turned negative.
  • Bernanke says that challenges remain ahead, but the worlds central bankers stand ready to respond in any way needed.
  • Buffets recent purchases of Goldman Sachs and GE are down 46% and 36%, respectively, resulting in a paper loss of over $3 billion dollars.
  • Top Republicans oppose the Auto industries proposed bailout plan, which could hasten their failure.
  • U.S. consumer confidence figures are at a 28 year low on job losses.
  • McDonalds is planning on adding 175 more stores in China as they complete their 1,000th today.
  • The Dow slides 8.5%, so far, in November, following a 14% drop in October.
  • Analysts see dividend paying stocks as the bright spots in the market as yields are very attractive due to stock price drops.

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