Market that was!

Posted by | January 2, 2008 | blog, World | No Comments

31st December marks the last day of the year 2007. The market for the day was generally down but ‘technology’ seems to save the day, this is another reason why Nasdaq seems to score over S&P 500.
As we know in 2007, subprime hit a rangeof banks, mortgage lenders, bond insurers and home builders, as a result of which their shares have gone down by more than 50% and they have taken a major hit.
As a summary NASDAQ rose by 9.8%, S&P 500 gained around 3.5% for the year 2007
Investors had exercised a lot of caution even during the holiday season, and the caution only increased with the assasination of Pakistan’s former Prime Minister Ms. Bhutto.
It is reported that Blackberry makers stocks skyrocketed 166% for the year when calucualted on split-adjusted basis.
Apple was a stock that was tracked by me and which had touched $200 targeted. Well the year as I had earlier reported was a year for social networking sites and since technology sector did not have much exposure to financials it seemed to make a decent year for the sector.
Compiled from Reuters,News.com and a few of my own Interpretations

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