Markets Recap – November 9, 2007

• DOW down -223.55 (-1.69%)
• Gold closes at 833.7 down -3.80 (-0.45%)
• Oil closes at 96.2 up 0.74 (+0.78%)
• US Dollar Index closes at 75.39 up .055 (+0.073%)

• UK trade deficit widens to record as exports drop
• US trade gap narrows to two-year low
• Canada's trade surplus at lowest level in decade
• US consumer confidence hits two-year low

Thanks to http://themessthatgreenspanmade.blogspot.com for "The Bernanke Cycle":

1. Federal Reserve cuts interest rates
2. Equity markets surge
3. Dollar decline accelerates
4. The price of oil and gold soar
5. Treasury reiterates "strong dollar policy"
6. Housing market problems get worse
7. Credit market problems get worse
8. Dollar decline accelerates
9. The price of oil and gold soar
10. Federal Reserve talks tough on inflation <—– YESTERDAY
11. Treasury reiterates "strong dollar policy"<—– YESTERDAY
12. Equity markets plunge <———— YOU ARE HERE
13. Go to step 1

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