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US equities fell again on Friday. This time the DJIA gave up 146 points.
US equities rose modestly on Thursday in spite of record gasoline and oil prices, with oil crossing the $124 per barrel price for the first time.
On Tuesday major averages finished moderately higher after beginning in negative territory. Normally this is a bullish sign; however, equity futures are currently negative for Wednesday's open.
Friday was yet another tumultuous down day for stocks. The DJIA gave up 195 points and our Viable Acquisitions Index fell from 150 points to 123 points for Monday's open.
Tuesday was a glorious day for US equity investors. The DJIA soared 416 points following action by the Federal Reserve Board to pump 200 billion dollars into the banking sector to shore up losses and ease credit.
Thursday stocks moved lower again with the DJIA closing down 214 points as we appeared to hit a perfect storm for equities. The US dollar fell as the price of crude oil climbed to over $105.00 per barrel.
Equity markets continue to be challenged. The DJIA lost over 300 points on Friday, and our Viable Acquisitions Index fell into the yellow cautionary zone at 87 for Monday's open. Equity futures were also negative for the open on Monday.
The DJIA saw a 96-point rally on Friday. However, the overall improvement for the week was only slight. Since our last posting of 2/19, our viable acquisitions index has risen from a reading of 91 to a reading of 106 for Monday's open.
Friday, US equities finished mixed with the DJIA losing 28 points, the Nasdaq Composite losing 10 points, and the S&P 500 gaining one point.
On Tuesday US equities surged ahead in the morning on word of a freeze on mortgage foreclosures and steps by Warren Buffett to provide capital support to municipal bond insurers.
Friday was yet another negative day for US equities. The major averages finished mixed, with the DJIA down 64 points and the Nasdaq Composite up 11 points.
Tuesday was a disastrous day for US equities, with the DJIA falling 370 points—the largest decline in nearly a year, and this follows on substantial losses for Monday. Together the losses of the past two days have nearly wiped out the substantial gains of all of last week.
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