1st
Dec
2009

Dow hits high, Gold hits high, GE makes deal

Posted by Admin

Ever since the collapse of the real estate and housing markets in 2008 there has been a widespread fear that this recession could possibly turn into another Great Depression. Indeed this has been one of the sharpest downturns in recent history for either those markets or the stock market in general.

The good news is that as of today the Dow-Jones is at a 14-month high. Dubai World’s debt problems eased, which helped to bolster the stock market higher than it has been in over a year. Gold also rose to new heights, hitting above $1200 per ounce. This is the first time gold has traded so high in its history–a mark which is bitter-sweet, as the price of gold often has an inverse relationship with the strength of the dollar.

Apparently GE is making some big moves as it regards Comcast, too.

GE is looking to sell a 51% stake in NBC Universal to Comcast, while retaining a 49% stake in the company that is valued at around $30 billion.

More on the latest uptick here.