It's nearly half-past midnight and here I am watching the US stockmarket, the London Stock Exchange, and the value of the US Dollar in relation to the Euro.
So what's the news? Firstly a major mortgage lender in the US has gone belly up and has reduced its workforce from 7000 to 750 after its creditors refused to bail them out.
Secondly, unemployment has risen from 4.5% in June to 4.6% in July.
It's been fun to watch. The US Dollar tanked almost as soon as the unemployment news came out, while the news about the mortgage lender (which was a top ten mortgage company with no subprime mortgages) was out after the close of trading yesterday.
The Wilshire 5000 aint looking too hot at the moment. With the US markets open less than an hour, it has already dropped by 0.33%. That may not sound like much, but a percentage figure like that is usually a result of an entire days' trading rather than 40 minutes worth. It'd be nice (in a perverted sort of way) to see how far it drops when I get up tomorrow morning.
So what's the news? Firstly a major mortgage lender in the US has gone belly up and has reduced its workforce from 7000 to 750 after its creditors refused to bail them out.
Secondly, unemployment has risen from 4.5% in June to 4.6% in July.
It's been fun to watch. The US Dollar tanked almost as soon as the unemployment news came out, while the news about the mortgage lender (which was a top ten mortgage company with no subprime mortgages) was out after the close of trading yesterday.
The Wilshire 5000 aint looking too hot at the moment. With the US markets open less than an hour, it has already dropped by 0.33%. That may not sound like much, but a percentage figure like that is usually a result of an entire days' trading rather than 40 minutes worth. It'd be nice (in a perverted sort of way) to see how far it drops when I get up tomorrow morning.
No comments:
Post a Comment