Beyond The Numbers

Downside Likely as Credit Concerns Continue To Weigh On Sentiment

The major index futures are pointing to a lower opening on Thursday, as the credit market continues to spew forth negative tidings. Countrywide Financial (CFC) could see yet another down day after it said it is going to tap into its entire credit line. Meanwhile, economic reports released suggested that the housing market is still not out of the woods and the job market is showing signs of weakness, which could fortify expectations for an interest rate cut. Nonetheless, the credit crisis could linger in the minds of traders and prod them to be more cautious before they take any big bets. ........Read more........