The Facts on Our Current Stock Market
There is no doubt that the U.S.’s struggling market is in your thoughts these days. It can be overwhelming to digest all of the negative, and the positive, information we’ve received regarding the stock market this past week. However, we all know it’s crucial to stay updated on the market’s health to make the best decisions for your business and prepare for changes. Here’s a rundown of everything that has happened recently:
-On Friday (8/5/11) an S&P committee downgraded the U.S. credit rating form AAA to AA+, removing the U.S. government from the list of risk-free borrowers.
-Yesterday (8/8/11) The Dow Jones industrial average fell 634 points (5.6%), and the Standard & Poor’s 500- stock index dropped 6.7 percent. These are the biggest plunges in 2 years.
-One of the industries hit the hardest is banking. Bank of America’s stock fell an astonishing 20 points.
-Good news for the economy: Of the companies in the S&P to report earnings almost 3/4 have done better than Wall Street expected.
-Keep in mind that while everyone is worried about the economy our fear can make it worse. Read this article from The New York Times to learn more.
Tune into BIZ TV shows, like The Big Biz Show, to make sure you stay posted on our current economy. Don’t miss any developments that could affect you.