Futures Pointing Lower; Giants Opening Markets

February 5, 2008 | Posted by Jorge

Futures are pointing lower this morning even with strong earnings reports from Toyota and NYSE Euronext (Cramer’s beloved).  CNBC’s reporting that the markets are still jittery about the credit crisis.  Perhaps they’re finally realizing that the series of rate cuts we’ve had aren’t doing much?  The only way these issues are going to be resolved is through time.  Housing markets need to collapse a bit further, lenders need to tighten up credit requests, and others need to be outright bailed out such as the bond insurers.  I know once housing prices begin to deflate further, my future wife and I will be able to afford a home.  I’m sure the same can be said for quite a few folks right now.  Once housing prices come down sufficiently, those that couldn’t afford, not because of credit but because of pricing, can finally afford and kickstart the US economy once again.

It looks as if some members of the New York Giants are ringing the bell this morning.  Might be fun to watch so tune in.  Looks like today may be another one of those slow market days but don’t let your guard down.

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