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New York - Stocks Finished Lower as Recession Concerns Continue to Haunt Investors |
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Published on:
Jun 16, 2009 at 03:09 PM
News Source: Bloomberg TV
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“The assumption that the economy was turning, that we were going to see growth again, was a little premature,” said Clarence Woods Jr., chief equity trader with Baltimore-based MTB Investment Advisors, which manages $12 billion. “The rally was way too much, too fast.”
Stocks rose in early trading as a better-than-estimated report on housing starts spurred a rally in homebuilders and commodity shares climbed with metal and oil prices. Benchmark indexes and commodities turned lower after Reuters reported that New York University economist Nouriel Roubini, who predicted the financial crisis, told a conference the economy won’t recover until the end of the year and growth will remain weak.
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Jun 16, 2009 at 09:43 PM AuthenticSatmar Says:
But Obama told us its over! You mean the stock market doesn't believe him? And what about investigating the recent rise in gas prices, like Obama called for when he was Senator?
Chalk up another Obamaism. The press wrote about every 'Bushism' but give Obama a free pass.