Dow Hits Lowest Point on Year

Written by:
Aaron Goldstein
Published on:
Jun/01/2011
Dow Jones

The Dow and S&P 500 hit its lowest mark for 2011 on Wednesday.

The Dow Jones industrial average (INDU) fell 280 points, or 2.2%. 

The S&P 500 lost 31 points or 2.3%. 

The NASDAQ composite fell 66 points or 2.3%. 

The declines were the worst since last August.

Late trading was rattled further on news that Greek’s debt crisis has gotten far worse.  Moody’s cut Greece’s bond rating by three notches to Caa1.

"Weak economic data has started to snowball," said Michael Sheldon, chief market strategist at RDM Financial. "Initially, we just had bad news from the weekly jobless claims data, but now we're starting to see a broad-based economic slump."

"The first trigger for today's downgrade is Moody's view that Greece is increasingly likely to fail to stabilize its debt ratios within the timeframe set by previously announced fiscal consolidation plans," the ratings agency said in a statement.

eToro

As of press time, 58 percent of the betting public believes that the Dow Jones will close at 12500 or lower by year’s end. 

34 percent of the betting market had Standard and Poor’s rating Greece in default by year’s end. 

 

•   Dow Jones to close ON or ABOVE 11750 on 31 May 2011- 95 percent chance

•   Dow Jones to close ON or ABOVE 12250 on 31 May 2011- 83 percent chance

•   Dow Jones to close ON or ABOVE 12500 on 31 May 2011- 34 percent chance

 

*All odds found at intrade.com 

- Aaron Goldstein, Gambling911.com

Business/Financial News

Find a Fantastic Pay Per Head for the NBA Playoffs

Find a Fantastic Pay Per Head for the NBA Playoffs

Believe it or not, the NBA Playoffs are just around the corner and now is the time to start thinking about taking your bookie business to the next level.

How Does a Pay Per Head Work?

A Pay Per Head business is one in which you pay X amount of dollars per customer per week to have another company run nearly every aspect of your bookmaking business.

How Much Profit do Bookies Make?

How Much Profit do Bookies Make?

Bookies are people that accept action on various sports, and most bookies have an average weekly hold percentage of around 5%.

QuadrigaCX Founder Dies With Only Access to Exchange Password: Made Out Will Days Prior

The CEO and founder of Canadian cryptocurrency exchange QuadrigaCX wrote his will just 12 days prior to his death, but he neglected to disclose the crypto exchange password.

6 Fatal Errors That Could Be Costing Online Bookies Serious Profits

6 Fatal Errors That Could Be Costing Online Bookies Serious Profits

Online bookies need to be aware of 6 fetal errors that cause agents to close shop for good. Find out if you’r making these mistakes and if your sportsbook is spilling potential profits everywhere.

Syndicate