A weak economy pushes Dow to break 10,000 floor again
We seem to be at this psychological number again. I am not in the stock market and haven’t been in a couple of years. However, I watch it everyday to stay in tune with the markets. I think investors are confused and fearful that what they hear from government agencies and experts don’t coincide with the housing activity or national economy.
They focus too much on earnings which have been good the last few quarters, but don’t realize that companies are not more profitable. Many companies and banks have cut costs through layoffs, but are generating less revenues. So current earnings look good, but many cut outlook because it is not possible to sustain cost cutting indefinitely and the trend for revenues continues to point south from quarter to quarter.
Bloomberg Futures market:
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