Stocks in New York got smacked on Monday as the financials languished. The Dow and the S&P 500 both lost 1.1%, and the Nasdaq fell 1.2%.
On CNBC's "Fast Money" TV show, Jeff Macke said that the S&P 500 couldn't get over 1400 and sold off. Financials reacted poorly to credit ratings today, he said. Investors can buy the dip in that sector, he said.
Karen Finerman said she's going to wait a little longer before she adds to her fund's Citigroup (C Quote) position.
Jon Najarian said that Wachovia (WB Quote) may move lower. He said the company's acquisition of Golden West happened a long time ago. He said that if the reason CEO Ken Thompson was shown the door today wasn't just that acquisition, there may be other problems ahead for the stock. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,337.05 | 1,095.94 | 2,183.73 | 34.23 |
Oil *
72.45
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UP
51.08
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UP
10.74
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UP
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10 Yr
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SPDR Gold
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+0.50%
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+0.37%
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+0.49%
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+0.91%
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