11/17/08- Market Falls on News of Job Cuts

THE FOLLOWING IS PUBLISHED BY INTELLIVEST SECURITIES RESEARCH, INC., RIA, AND IS NOT INTENDED AS ADVERTISING BY A BROKER-DEALER

11/17/08 - Today the Dow closed at 8,273.58 down 223.73 while NASDAQ lost 34.80 to close at 1,482.05. The S&P 500 was down 22.54 to close at 850.75. The Ten Year Treasury Note closed at 100.63 up .47 pushing the yield down to 3.675. Oil was down $2.11 per barrel to close at $55.49. The U.S. Dollar lost .01174 against the Euro so one Euro will buy US$1.26566. The market's decline was due to more bad news regarding job losses as Citigroup announced it would eliminate 14% of its work force or 50,000 jobs and Goldman Sachs announced its top execs would forgo bonuses - the bottom is still not in sight. That's all from Atlanta.