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Mixed Day For Wall Street |
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Written by Value Seeker
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Monday, 24 September 2007 |
Stocks open up, then retreat into negative territory by day’s end.
The Fed’s rate cut last Tuesday sent stocks up for most of last weeks. Today, stocks opened higher, but then selling ensued and most indexes fell into negative territory.
In other news, GM workers went on strike today due to failed negotiations. GM’s stock only dropped by about .5% though, as investors are likely expecting a compromise between management and the UAW.
Disclosure: Author is currently short GM.
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