December 31, 2008
December 31, 2008 by admin
The stock market ended 2008 on an up note as investors bought back into the market looking towards an optimistic begining to the 2009 year. The stock market which dropped almost 40% of it’s value in 2008 has been on a roller coaster ride as investors have increasingly pulled money out of equity positions. Stock values for almost every company listed in the S & P 500 index have declined sharply this year under pressure from earnings and falling consumer confidence.
The market will look sharply at the new Presidential administration and their economic and monetary policies they implement in the next 90 days. Oil prices have declined sharply over the past 4 months and consumers have benefitted from sharply lower prices for gasoline. Mortgage rates ended the year near historic low levels and fixed rate mortgage loans remain in the low to mid five percent range.