Pre Stock Market Report - February 4th 2008

Posted: February 4, 2008 at 10:18 am by Chuck

So far it appears that the markets are going to open flat to slight lower based on futures. The biggest event we see this morning is the announced budget from the US Government. Amazing how the tone of the Government has changed so quickly from "fundamentals are strong" to now being told "longer term outlook is sobering".

BUSH FY08 BUDGET PROJECTS $410B DEFICIT V $258B PRIOR - WIRE HEADLINE
- FY $3.11T budget proposal would nearly freeze spending
- "longer term outlook is sobering. healthcare costs create unsustainable pressures"
- budget does not adjust GDP forecast; remains at 2.7% for 2008, and 3.0% for 2009