| 07-Aug-2008 0908 IST or 0338 GMT or 2338 EST |
GOOD MORNING! The Tech-heavy Nasdaq rose over a percent while the Dow gained a third of a percent. This rally could be partially attributed to Crude, which continues dipped to 117.11 overnight. The well being of Freddie Mac and sister company Fannie Mae is a big concern on Wall Street as the government-chartered companies hold or back nearly half of all U.S. mortgage debt. The companies have lost billions of dollars due to failed loans over the past year; the federal government has pledged to help both companies with larger lines of credit or stock purchases if necessary. The losses reported for the quarter was almost thrice of the expectation by Freddie Mac. To see the charts of Dow Jones, Nasdaq and Nikkei click: http://kshitij.com/graphgallery/djiacandle.shtml http://kshitij.com/graphgallery/nasdaqcandle.shtml http://kshitij.com/graphgallery/nikkeicandle.shtml Asians are mixed this morning, with Nikkei and Straits Times being the worst hit, both down over 1%. On the other hand New Zealand has been defiant and trading up 1.39%. Sensex has managed a close above the 15,000 mark yesterday. However, it is bang on at its Resistance currently. It is to be seen if the positive momentum can break past this level or not. The chances are less of a break on the upside. To see the chart click on: http://kshitij.com/graphgallery/sensexcandle.shtml COMMODITIES CURRENCIES DATA TODAY |
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