UN FCU investment officer discusses stocks on Bloomberg
NEW YORK (11/13/09)--U.S. stocks fell Thursday after six straight gains for the Standard & Poor's 500 Index, and United Nations FCU, New York, was on hand to interpret the retreat for Bloomberg.com.
Christopher Sullivan, chief investment officer at the $2.9 billion asset credit union based in Long Island City, told the publication: "To get further rallies from here, we'll have to see continuation of gradual improvements with respect to growth, business activity and hopefully a continuing slowdown in the pace of layoffs."
The article noted that the earnings as most U.S. stocks retreated was a disappointment for investors at a number of companies. The Dow Jones Industrial Average climbed to a 13-month high for the second day, said Bloomberg.com (Nov. 12)
Sullivan oversees $1.4 billion in investments at the credit union.
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