DJIA Broke 11,000 Barrier

Posted by Kris | Thursday, October 14, 2010 | | 0 comments »

The foreclosure freeze by major banks due to evidence that there were fraud activities did not stop DJIA from breaking the 11,000 mark. Meanwhile APPLE just broke the USD300 barrier , due to its wild success in IPad and also Iphone 4 (even though there were serious wireless defects). Thus, APPLE corp has became the 2nd largest company in the world by market capitalization.

The fraud foreclosure is really a big issue and Obama is hesitant to call a blanket national moratorium for the fear of jerking the already weak property markets.

There were news of huge outflow of funds from mutual funds out of the stock market. But, the market is always a weird place, with so much outflow of capital, yet the DJIA can broke the 11,000 mark so easily.