Market Update: AXP Debt Put On Credit Watch By Moody’s
August 7, 2008 3:45 PM
We were all set to put in an open low. Late in the day Moody’s put some of American Express’s debt on credit watch for a possible downgrade and all hell broke loose. I have been warning that the SP was a total and complete house of cards, but we did have a “decent” low put in early on today at the open and the AXP news was likely the only reason it cleared. I couldn’t figure out what was going on as it “shouldn’t” have cleared from what I saw. Well, CNBC comes on AFTER the low cleared and broke the “news”. Nice to have news after the traders.
I obviously need something for real time news as CNBC gives “news” far after the traders already have it. Not good.
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