Market this Monday 11/26

ron · #1 (**permalink**) 11-26-2007, 01:37 PM

Crude oil for January delivery has slipped 1.1% to $97.05. A CNBC commentator stated that CNBC has confirmed Saudi Arabia will increase its oil production.

ron · #2 (**permalink**) 11-26-2007, 01:39 PM

There are reports that a Citigroup (C $30.65, -1.05) spokeswoman has said the company is planning "ways in which we can be more efficient" but stated that previous reports on specific numbers of job cuts are not accurate. A CNBC commentator stated earlier he had sources that expected up to 45,000 layoffs. Citigroup has roughly 327,000 employees.

ron · #3 (**permalink**) 11-26-2007, 01:43 PM

stock market was set for a positive open today as futures traded higher overnight following better than expected reads on post-Thanksgiving consumer spending. According to ShopperTrak RCT, there was an 8.3% gain in sales on Black Friday, higher than their estimatd 4-5% increase. However, futures pulled back following a number of negative headlines out of financials, leading to a flat open....Dow -5.36 Points, Naz -6.95 rtq...12,979.91 2,589.93 rspctvly.

ron · #4 (**permalink**) 11-26-2007, 02:11 PM

stock market slips into negative territory again with Dow posting small loss of -1.33 Points, Naz -3.19.

ron · #5 (**permalink**) 11-26-2007, 02:29 PM

Not quite broad-base selling currently dominating the mkrts however, gains are not being sustained...Dow -23.49 Points, Naz -8.79 rtq.