Cheers on Pennsylvania Ave. While Storm Rages on Wall St.:
According to JP Morgan Chase, Wall Street suffered its worst Inauguration Day since 1900 as the Dow dipped below 8,000, but before you panic too much, Inauguration Day almost always sees a bad day on the Street. Investors feel more secure with a known commodity than with a new one.
In the meantime, with the price of gasoline having gone up in recent days, the price of crude still remains below $40 a barrel. (See today's New York Times.)
According to JP Morgan Chase, Wall Street suffered its worst Inauguration Day since 1900 as the Dow dipped below 8,000, but before you panic too much, Inauguration Day almost always sees a bad day on the Street. Investors feel more secure with a known commodity than with a new one.
In the meantime, with the price of gasoline having gone up in recent days, the price of crude still remains below $40 a barrel. (See today's New York Times.)
Labels: Politics, The Economy
posted by Jim | 5:26 PM
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