Thursday, July 07, 2005

Terror and the Markets

My condolences go out to all those in London and elsewhere who suffer as a result of the terrorist attacks this morning.

It is unfortunate that we are growing accustomed to terrorism. Today, after the initial panic subsided, our financial markets absorbed the terrorist attack news without any real trouble. One would not be able to tell based solely on the market numbers that any major event took place. Effectively, this weakens the terrorists' position. But, a ripple effect should be expected as London is a major source of business in the world, and the attacks will surely have some damaging effect.

Quick update. EBAY trading position is still underwater a little. RF Micro Devices (RFMD) guides revenues higher. New on my radar is Wit Systems (WITS). Oil supplies down, but oil retreats in the wake of the attacks.

No comments: