A Dark Friday

In the US market this Friday proven to be a very gloomy, bad and worst Friday, the possibility that gloomy consumers could cut their spending further sent markets tumbling on Friday. Markets collapsed on Friday following an unexpected fall in the U.S. consumer confidence index. The index fell early August 63.2 from 66.0 in July according to media reports on Friday of the Reuters/University of Michigan. The reading is markedly lower than the 69.0 economists were expecting. Consumers are still burdened with increasing job losses and rising debts.

There are some industries in the U.S who suffered badly with the collapse of the US market on this Friday.  The Dow Jones is one of them and their Industrial lost was 77 points on this Friday, and they closed at 9,321, while the NASDAQ was down 24 points to 1,986 and the S&P 500 dropped nine points to 1, 004.It’s a big lost and a slump in the market where 23 of the 39 stocks in the index lost ground Friday, while 15 finished up and one was unchanged. First Franklin Corp. finished up more than 11 percent, on no news, while penny stock Peoples Community Bancorp, which was delisted from NASDAQ after it was seized by the feds several weeks ago, lost more than 83 percent. So, after this entire market slump Obama and his administration must have to think that the economical collapse is rattling their economy and every sector badly and getting the US weaker day by day!

Do you wish to know about reverse mortgage? It is for seniors allowing them to live in their homes and have handy cash! You can get yourself up with reverse mortgage information at this blog.