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BCE, Oil, US subprime fallout in focus today Vialoux
Posted on June 20, 2008
U.S. equity index futures are lower this morning. Dow Jones Industrial Average futures are down 70 points in pre-opening trade. U.S. equities are responding to rumors of more sub-prime lending fall out. Rumors say the Bank of America will cut its dividend, Merrill Lynch will issue an earnings warning and MBIA as well as Ambac will declare bankruptcy under Chapter 11. Adding to uncertainties in the sector is a report released this morning by Merrill Lynch predicting that regional banks shortly will announce major additional write downs. The S&P Financial Service Index likely will test a five ye...
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