Stock Market Report 1/7/09 - January 7, 2009

The Dow Jones and Stock Market look weaker in pre market due to several factors.

Stock Market Report January 7, 2009 - Pre Market

Intel just came out and warned that 4th quarter sales will be down 23% to 8.2 billion. This bit of news is sending technology stocks down this morning but is sending ultra short ETF's such as the QID up significantly.

ADP employment report out this morning was down right ugly! The ADP report shows a loss of 693,000 jobs for the month of December. The Government Jobs report will be out Friday so we will have to see what the official number is but most importantly how the stock market reacts to the news.

Lastly, the Saytem ( SAY ) CEO has come out this morning and stated he has inflated earnings over the past few years and has resigned. This is sending shares down 90% and I believe the stock is halted. Another fraudulent scam that is shocking Wall Street. Who can you trust?

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