Results tagged “dowjonesindustrialaverage”

Of course, the continued high cost of fuel remains a brake on the economy. And if there's one thing that financial markets abhor, it is uncertainty. With the Presidential election eleven months off and a wide variety of candidates bandying about different economic proposals, it becomes difficult for investors to plan for or around what the future may hold. In short, hang on. As one analyst for Standard & Poor's wrote in a research note that was quoted in the Times, "The best investment may be in aspirins and a neck brace."

Today on the Gothamist Newsmap: a white powder incident at 25 Beaver St. in Manhattan, report of a large crowd gathered at the center of the south side of the George Washington Bridge's upper level, and an explosion in the basement of a building at 77th St. and Lexington Ave. in Manhattan. Dedicated bike paths and fences separating them from traffic can only do so much when a cab driver really wants to take...

With the economy acting as though it's on a roller coaster given concerns about credit and mortgage markets, NYC real estate brokers are feeling the pains. Some potential buyers who would have qualified before issues with the mortgage markets now find themselves struggling to get the loans they need and being asked to put more of their money down. However, we will say it's hard to be sympathetic to someone looking for a $3.3 million mortgage or someone who makes $500,000/year failing to get an $850,000 mortgage, which were two examples in the NY Times.

Yesterday, the Dow Jones Industrial Average closed at 11,011.90, above 11,000 for the first time since June 7, 2001. Reaching 11,000, while symbolic, is still signifigant as it is a sign that the markets are going in the right direction. A big reason for yesterday's gain was the stock of GM, which has took a beating last year but was given some positive reports from Goldman Sachs, causing the stock to go up 7.7%.