- 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.
14 November 2008
Here are some market headlines for November 14th.