Weekend Linkage – November 9, 2008

Posted by Sun on November 9, 2008

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Market Recap

It was another volatile week on the Wall Street. Stock markets opened the week with two strong rallies in a row prior to and on the election day. The gains for major indices on the election day were the best of all time. However, the rally couldn’t continue after Democratic candidate Barak Obama won the election as expected. After the election, investors shifted their attention back to the economy and what they received weren’t pleasant. Following the largest gain ever on an election day, worries of a deepening global recession sent stocks sharply lower for two consecutive days on Wednesday and Thursday, the biggest two-day drop since 1987. On Friday, the Labor Department reported that U.S. employers cut 240,000 non-farm jobs in October and unemployment rate climbed to 6.5 percent, the highest level in 14 years.

For the week, the Dow Jones Industrial Average lost 4.1% to 8,943.81, the S&P 500 dropped 3.9% to 930.99, and the Nasdaq fell 4.3% to 1,647.4. Gold closed the week at $734.5/ounce, gaining 2.10% for the week, while silver rose 2.57% to $9.98 an ounce. Crude oil continued its downward spiral, losing 9.98% for the week to close at $61.04 a barrel.

Weekend Readings

Check out these articles from The Money Writers and beyond.

What Has Changed in Personal Finance? @ Brip Blap

Comparing Deductible, Co-Pay, and Co-insurance When Looking at Your Health Insurance Benefit Options @ Generation X Finance

Living Frugal With Other People’s Money @ Frugal Dad

10 Signs Of A Stock Market Bottom @ The Digerati Life

Your Tax Questions Answered @ My Dollar Plan

Our Early Retirement Plan @ Lazy Man and Money

Teaching Kids about Money – Oprah Again @ Million Dollar Journey

Are You Struggling With Financial Decisions? @ Money Smart Life

10 Quick Tips To Winterize Your Home @ Blueprint for Financial Prosperity

10 Ways to Prove that Frugal Living is Really Green Living in Disguise. @ Steadfast Finances