9Jun/080
Gas price at $4/gallon; Lehman posts $2.8 billion loss
Most of the stocks went down today as a result of gas prices going up past $4 a gallon. Financials are taking a big hit today because Lehman Brothers posted a $2.8 billion loss for the second quarter. The outlook is not looking good for Lehman when the company says that it will raise $6 billion in capital by selling its stocks, which is not a good thing! I believe stocks will continue to drop towards the end of the day because of these bad news. When the gas prices begin to ease in the next few days, it may be a good opportunity to buy some quality stocks.