First Week Down, Rubin Resigns, Payroll Numbers Beat Forecast
The first week of 2009 ended down for stocks on earning warnings, jobless claims and general economic nervousness. The Payroll numbers today were slightly better than expected bolstering the US Dollar but failing to lift stocks. Robert Rubin resigns from Citibank as the institution initiates talks with Morgan Stanley regarding merging of their broker units. The DJIA ended down 143.28 to 8599.18, the Nasdaq dropped 45.42 to 1571.59 and the broad based S&P 500 slipped back 19.38 to 890.35.
YRC Worldwide
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Vail Resorts
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Healthways Inc
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Coach
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Oil fell .95 cents to $40.75, gold slipped $1.50 to $853.00, and the VIX added .611% to 42.82.
David Goodboy is Vice President of Marketing for a New York City based multi-strategy fund.