Sunday, October 12, 2008

Wall Street- The Week Ahead


It should be an interesting week.

High anxiety on Wall Street won't subside this week as the deepening credit crunch pushes the global economy into recession, and corporate profits increasingly become an afterthought as investors scramble to raise enough cash to weather the credit crisis.

On the heels of a panic-riddled sell-off that caused the Dow industrials and the S&P 500 to plummet for eight days in a row, finance ministers and central bankers from the Group of Seven met on Friday -- followed by meetings of the Group of 20, International Monetary Fund, World Bank officials and European leaders over the weekend -- to discuss jammed credit markets and the staggering global economy.

While corporate earnings season gets into full swing this week, results will likely be on the back burner as investors struggle to see through the fog of fear that has engulfed the market.

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