President-Elect Barack Obama headed to Capitol Hill yesterday (Monday) to meet with House and Senate leaders to push for quick action on his broad economic stimulus package that could cost as much as $775 billion.
The dollar bounces! ISM was simply awful! Oil rallies… Jobs Jamboree this Friday… And Now… Today’s Pfennig!
Dow Chemical, Kuwait deal collapses… Nasdaq dragged by large-cap tech companies… Oil rises above $38 per barrel on Middle East tensions… Dow off 1.6 pct, S&P off 1.6 pct, Nasdaq off 2.3 pct
Paulson heads back to congress… BOJ cuts rates to below the US… China to continue increasing the value of the Renminbi… And Now… Today’s Pfennig!
With gross domestic product plummeting and the jobless rate at a 14-year high, U.S. policymakers will have to author at least one more stimulus package in the months to come if they are to elbow aside the impact of high unemployment and depressed consumers.
