Trades and observations from a British contrarian stock investor

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Thursday, April 8, 2010

Market on its way down this morning

The Dow Jones Industrials finished down 72 points at 10,898 last night despite a positive U.S. Treasury's 10-year note auction and Federal Reserve Chairman Ben Bernanke's optimistic outlook for the American economy saying "if economic conditions improve, as I expect, we should see increased optimism among consumers and greater willingness on the part of banks to lend, which in turn should aid the recovery". The FTSE 100 is currently down around 40 points with resource stocks on their way down. The markets are awaiting feedback from the Bank of England and European Central Bank meetings.

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