15 Apr 2005 Hang in There
Posted at 16:48h in The Friday BriefThe last two days of trading have been the worst since August 5th and 6th of last year. They have taken the blue-chip index to its lowest level in five months. What changed so drastically in the last few days? The economy was growing, but not so fast as to worry the inflation-guardians at the Federal Reserve; interest rates were holding steady, even falling a bit; and corporate profit margins were still fat enough to absorb some unforeseen shocks, like oil remaining above $50.00 a barrel for an extended period.