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Equities, AIG, Citigroup, trade and jobs Vialoux
Posted on May 09, 2008
U.S. equity markets are moving lower before the opening. Dow Jones Industrial Average futures are down over 80 points. Traders are bothered by news from American International Group released last night. AIG reported a loss of $3.09 per share versus a profit of $1.58 last year. Consensus was a profit of $1.10 per share. The company also announced plans to raise $12.5 billion. Its stock is down 7% in pre-opening trade. AIG currently has a negative technical profile. Intermediate trend is down. The stock trades below its 200 day moving average and broke below its 50 day moving average yesterday. ...
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