Market Analysis

Bonds opened slightly down.  Stocks are up on better than expected 4th Qtr earnings from the drug maker Merck and a better than expected February Empire State (NY) manufacturing index which increased to 24.91 vs 15.92 in January and expectations for a reading of 18.0.  The Dow is currently up over 100 pts to the 10,200 level.  In Europe, no quick fix for Greece was announced.  The current state of affairs is that finance ministers from leading Eurpoean countries have given Greece until March 16 to come up with a plan to slash government spending and/or raise taxes to deal with their fiscal issues.  In exchange Greece would presumably receive European Union support to refinance their debt. 

Posted by Matthew Breston on February 16th, 2010 9:49 AMPost a Comment (0)

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