10/29/08Dow Falls on Concerns of GE '09 Revenues

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10/29/08 - Today the Dow closed at 8,990.96 down 74.16 while NASDAQ gained 7.74 to close at 1,657.21. The S&P 500 was down 10.42 to close at 930.09. The Ten Year Treasury Note closed at 101.16 down .63 pushing the yield up to 3.85%. Oil was up $4.77 per barrel to close at $67.50. The U.S. Dollars gained .00235 against the Euro so one Euro will buy US$1.29551. The market's rally was cut short by headlines regarding GE's announcement that they would try to keep profits for '09 the same as for '08 which implied cost cutting. That's all from Atlanta.