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Video: Good News -- For Bears Only!

CNBC.com
Monday, 18 Aug 2008 | 10:48 AM ET
Markets Will Continue to Fall: Analyst
The markets are still heading lower says Kirby Daley, senior strategist at the Newedge Group. He tells CNBC's Amanda Drury that investors shouldn't get their hopes up because we're not close to a U.S. economic recovery.

Good news -- for bears: The markets are still heading lower, according to Kirby Daley, senior strategist at the Newedge Group.

He tells CNBC that investors are being overly optimistic when it comes to equities -- because the U.S. economy isn't even close to a recovery. See the interview in video at left.

(He's not alone: A report Monday says the outlook is worse for Fannie Mae and Freddie Mac .)

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CNBC's Companies in the News:

- General Electric (Story: Financial M&A)*

- BHP Billiton (Story: Profit up 30%)

- UnionBanCal (Story: Buyout deal near)

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Disclosures:

*GE is the parent company of CNBC.

Disclaimer

  Price   Change %Change
BHP
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FNMA
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FMCC
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GE
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