Chris Cantell Discusses Markets: Dow ends up 152 on decline in oil, Bernanke talk by Paulina Neshybova

On Tuesday Wall Street did not end up as well as before because of the oil prices which fell down for the second day. For example the Dow Jones industrials had more than 150 points. Other commodities also declined.
Companies as Fannie Mae and Freddie Mac had some problems and other investors were quite worried about them, because their financial situation made the prices lower.
During these financial problems there were few speeches from the main chairmen of few companies, for instance Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and JPMorgan Chase & Co. Chief Executive Jamie Dimon who brought a bit of optimism to the market.
According to Bernanke, who had a speech about mortgage lending, the central bank will try to enlarge its tendency to help investment banks. Paulson and the Treasury secretary were both satisfied with the way how Freddie Mac and Fannie Mae eventually raised the money.
Whats good about it is that this drop of some commodities prices helped Wall Street not to fear about inflation. As the global economy is slowing down, also demands for raw materials and energy are declining. Probably the drop of these commodities was a big signal for that. Most of them for example gold, silver or others are declining together with oil.
This worsening of housing market is connected closely with the banks because it damages the chances for banks to make loans. Banks often invest in a risky mortgage debts. But we will see if the investors will find more optimism about it.

by Paulina Neshybova for PocketNews (http://pocketnews.tv)

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edited by Beata Biskova