December 2, 2008 - Stay Tuned

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December 2, 2008 - Stay Tuned

11/24/08- Rally for Market due to Citygroup Bailout

THE FOLLOWING IS PUBLISHED BY INTELLIVEST SECURITIES RESEARCH, INC., RIA, AND IS NOT INTENDED AS ADVERTISING BY A BROKER-DEALER

11/24/08 - Today the Dow closed at 8,443.39 up 396.97 while NASDAQ gained 87.67 to close at 1,472.62. The S&P 500 was up 51 to close at 851.81. The Ten Year Treasury Note closed at 103.56 down $1.13 pushing the yield to 3.32%. Oil was up $4.43 per barrel to close at $54.36. U.S. Dollar lost .03431 against the Euro so one Euro will buy US$1.29551. The market's rally was the result of the market's positive reaction to the Fed's bailout plan for Citigroup totalling $326 billion and Obama's confirmation of the selection of Tim Geitner as Secretary of the Treasury. That's it from Atlanta.

11/21/08- Market Rises on Treasury Pick

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11/21/08 - Today the Dow closed at 8,046.42 up 494.13 but down for the week by 897.39 while NASDAQ gained 68.23 to close at 1,384.35 down for the week by 263.05. The S&P 500 was up 47.59 to close at 800.03 down for the week by 130.72. The Ten Year Treasury Note closed at 104.94 down $1.72 pushing the yield to 3.21%. For the week the Ten Year Treasury Note was up $3.10 and the yield was down .56%. Oil was up $.51 per barrel to close at $49.93 which was a decrease of $11.11 per barrel for the week. The U.S. Dollar lost .01223 against the Euro so one Euro will buy US$1.25818. For the week, the Dollar gained .01685 against the Euro. The market's rally was the result of the market's positive reaction to the selection of Tim Geitner as Secretary of the Treasury and buyers not being able to resist some of the bargains. Have a great weekend, that's it from Atlanta.

11/21/08- Market Rises on Treasury Pick

11/21/08- Market Rises on Geitner SelectionTHE FOLLOWING IS PUBLISHED BY INTELLIVEST SECURITIES RESEARCH, INC., RIA, AND IS NOT INTENDED AS ADVERTISING BY A BROKER-DEALER11/7/08 - Today the Dow closed at 8,943.81 up 248.02 but down for the week by 381.20 while NASDAQ gained 38.70 to close at 1,647.40 down for the week by 73.55. The S&P 500 was up 25.87 to close at 930.75 down for the week by 38. The Ten Year Treasury Note closed at 101.81 down .66 pushing the yield to 3.77 - for the week the Note was up 1.56 and the yield was down .19%. Oil was up $.27 per barrel to close at $61.04 which was a decrease of $6.77 per barrel for the week. The U.S. Dollar lost .00567 against the Euro so one Euro will buy US$1.27502. For the week, the Dollar gained .00114 against the Euro. The market's rally was the result of the yesterday's market absorbing the bad economic reports and buyers not being able to resist some of the bargains. Have a great weekend, that's it from Atlanta.

11/20/08-Markets Declines Sharply on More Bad News

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11/20/08 - Today the Dow closed at 7,552.29 down 444.99 while NASDAQ lost 70.30 to close at 1,316.12. The S&P 500 was down 54.14 to close at 752.44. The Ten Year Treasury Note closed at 105.72 up 2.22 pushing the yield down to 3.07. Oil was down $4.45 per barrel to close at $49.65. The U.S. Dollar gained .01172 against the Euro so one Euro will buy US$1.24766. The market's decline was due to pessimism regarding the prospects of an auto bailout and increased nervousness over where this economy is headed - trading continues to be light. That's all for today from Atlanta.

11/19/08- Market Freefalls on Fed's Bad News

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11/19/08 - Today the Dow closed below 8,000 at 7,997.28 down 427.47 while NASDAQ lost 96.85 to close at 1,386.42. The S&P 500 was down 52.54 to close at 806.58. The Ten Year Treasury Note closed at 103.28 up 1.50 pushing the yield down to 3.35. Oil was down $.66 per barrel to close at $54.10. The U.S. Dollar gained .01172 against the Euro so one Euro will buy US$1.25251. The market's decline was due to more bad news regarding a record low of housing starts and building permits for October. Also the Fed lowered its economic forecast for '08 through '10. That's all for today from Atlanta.

11/18/08- Bargain Hunters Drive the Market Up

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11/18/08 - Today the Dow closed at 8,424.75 up 151.17 while NASDAQ gained 1.22 to close at 1,483.27. The S&P 500 was up 8.37 to close at 859.12. The Ten Year Treasury Note closed at 101.75 up 1.00 pushing the yield down to 3.53. Oil was down .73 per barrel to close at $54.76. The U.S. Dollar gained .00048 against the Euro so one Euro will buy US$1.26358. The market's rally was the result of bargain hunters buying up cheap shares. That's it from Atlanta.

11/17/08- Market Falls on News of Job Cuts

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11/17/08 - Today the Dow closed at 8,273.58 down 223.73 while NASDAQ lost 34.80 to close at 1,482.05. The S&P 500 was down 22.54 to close at 850.75. The Ten Year Treasury Note closed at 100.63 up .47 pushing the yield down to 3.675. Oil was down $2.11 per barrel to close at $55.49. The U.S. Dollar lost .01174 against the Euro so one Euro will buy US$1.26566. The market's decline was due to more bad news regarding job losses as Citigroup announced it would eliminate 14% of its work force or 50,000 jobs and Goldman Sachs announced its top execs would forgo bonuses - the bottom is still not in sight. That's all from Atlanta.

11/14/08- Market Falls on Skepticism of Paulson's Plan

11/14/08- Market Falls on Mistrust of Paulsen
THE FOLLOWING IS PUBLISHED BY INTELLIVEST SECURITIES RESEARCH, INC., RIA, AND IS NOT INTENDED AS ADVERTISING BY A BROKER-DEALER11/7/08 - Today the Dow closed at 8,943.81 up 248.02 but down for the week by 381.20 while NASDAQ gained 38.70 to close at 1,647.40 down for the week by 73.55. The S&P 500 was up 25.87 to close at 930.75 down for the week by 38. The Ten Year Treasury Note closed at 101.81 down .66 pushing the yield to 3.77 - for the week the Note was up 1.56 and the yield was down .19%. Oil was up $.27 per barrel to close at $61.04 which was a decrease of $6.77 per barrel for the week. The U.S. Dollar lost .00567 against the Euro so one Euro will buy US$1.27502. For the week, the Dollar gained .00114 against the Euro. The market's rally was the result of the yesterday's market absorbing the bad economic reports and buyers not being able to resist some of the bargains. Have a great weekend, that's it from Atlanta.

11/14/08- Market Falls on Skepticism of Paulson's Plan

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11/14/08 - Today the Dow closed at 8,497.31 down 337.94 and down for the week by 446.50 while NASDAQ shed 79.85 to close at 1,516.85 down for the week by 130.55. The S&P 500 was down 38 to close at 873.29 down for the week by 57.46. The Ten Year Treasury Note closed at 100.34 up 1.31 pushing the yield down to 3.70 - for the week the Note was down 1.47 and the yield was down .07%. Oil was down $1.46 per barrel to close at $61.04 which was a decrease of $3.44 per barrel for the week. The U.S. Dollar gained .01456 against the Euro so one Euro will buy US$1.27502. For the week, the Dollar gained .01032 against the Euro. The market's decline was the result of the the market's mistrust of Treasury Secretary's zig zag on TARP and his announcement today that the markets have stabilized. The market's volatility says, "I don't think so!" Have a great weekend, that's it from Atlanta.

11/13/08- Stocks Jump as Buyers Can't Resist Bargains

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11/13/08 - Today the Dow closed at 8,835.25 up 552.29 while NASDAQ gained 97.49 to close at 1,596.70. The S&P 500 was up 58.99 to close at 911.29. The Ten Year Treasury Note closed at 98.88 down .84 pushing the yield to 3.88. Oil was up $2.03 per barrel to close at $59.06. The U.S. Dollar lost .03220 against the Euro so one Euro will buy US$1.27730. The market's rally was the result of bargain hunters buying up cheap shares. That's it from Atlanta.

11/12/08- Market Suffers Steep Decline on Light Trading

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11/12/08 - Today the Dow closed at 8,282.66 down 411.30 while NASDAQ lost 81.69 to close at 1,499.21. The S&P 500 was down 46.65 to close at 852.30. The Ten Year Treasury Note closed at 102.78 up .81 pushing the yield down to 3.65%. Oil was down 3.17 per barrel to close at $56.16. The U.S. Dollar gained .00344 against the Euro so one Euro will buy US$1.24813. The market's decline was due to continuing over Goldman Sachs and the retail sector. Trading was light with 980 million shares on the Big Board. That's all from Atlanta.

11/11/08-Analysts Cut Earnings So Market Falls Again

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11/11/08 - Today the Dow closed at 8,693.96 down 176.58 while NASDAQ lost 35.84 to close at 1,580.90. The S&P 500 was down 20.26 to close at 898.95. The Ten Year Treasury Note closed at 101.97 up .22 pushing the yield down to 3.75%. Oil was down 3.08 per barrel to close at $59.33. The bond market was closed for Veteran's Day so one Euro will buy US$1.25298, same as yesterday. The market's decline was due to more bad economic news as analysts slashed earnings estimates for several companies including GOOGLE. That's all from Atlanta.

11/10/08 - Market Dips on Fears re: Automakers and Financials

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11/10/08 - Today the Dow closed at 8,870.54 down 73.27 while NASDAQ lost 30.66 to close at 1,616.74. The S&P 500 was down 11.78 to close at 919.21. The Ten Year Treasury Note closed at 101.97 up .22 pushing the yield down to 3.75%. Oil was up $1.37 per barrel to close at $62.41. The U.S. Dollar was unchanged against the Euro so one Euro will buy US$1.27437. The market's decline was due to more bad news regarding automakers and financials, specifically a report by Barclays that Goldman Sachs will suffer a fourth quarter loss. That's all from Atlanta.

11/7/08- Market Rises as Buyers Seek Bargains

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11/7/08 - Today the Dow closed at 8,943.81 up 248.02 but down for the week by 381.20 while NASDAQ gained 38.70 to close at 1,647.40 down for the week by 73.55. The S&P 500 was up 25.87 to close at 930.75 down for the week by 38. The Ten Year Treasury Note closed at 101.81 down .66 pushing the yield to 3.77 - for the week the Note was up 1.56 and the yield was down .19%. Oil was up $.27 per barrel to close at $61.04 which was a decrease of $6.77 per barrel for the week. The U.S. Dollar lost .00567 against the Euro so one Euro will buy US$1.27502. For the week, the Dollar gained .00114 against the Euro. The market's rally was the result of the yesterday's market absorbing the bad economic reports and buyers not being able to resist some of the bargains. Have a great weekend, that's it from Atlanta.

10/6/08- Market Continues to Drop on More Bad Economic News

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11/6/08 - Today the Dow closed at 8,695.79 down 443.48 while NASDAQ lost 72.94 to close at 1,608.70. The S&P 500 was down 47.89 to close at 904.88. The Ten Year Treasury Note closed at 102.47 up .09 pushing the yield up to 3.69%. Oil was down $4.53 per barrel to close at $650.77. The U.S. Dollar gained .02122 against the Euro so one Euro will buy US$1.27194. The market's decline was due to more bad unemployment news, namely that weekly jobless claims were worse than expected. Also retailers reported weak monthly same store sales. That's all from Atlanta.

11/5/08- Dow Drops on Bad Job News

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11/5/08 - Today the Dow closed at 9,139.27 down 486.01 while NASDAQ lost 98.48 to close at 1,681.64. The S&P 500 was down 52.98 to close at 952.77. The Ten Year Treasury Note closed at 102.63 up .44 pushing the yield down to 3.67%. Oil was down $5.23 per barrel to close at $65.30. The U.S. Dollars gained .00506 against the Euro so one Euro will buy US$1.29567. The market's decline was due to government reports that the private non-farm employment dropped by 157,000 in October, the largest decline since 2002 and worst than expect. That's all from Atlanta.

11/4/08- Stocks Soar on Relief the Election is Over

11/4/08- Market Flat as Election Nears
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11/4/08 - Today the Dow closed at 9,625.20 up 305.45 while NASDAQ gained 53.79 to close at 1,780.12. The S&P 500 was up 39.45 to close at 1,005.75. The Ten Year Treasury Note closed at 101.90 up 1.2 pushing the yield down. Oil was up 6.62 per barrel to close at $70.53. The U.S. Dollar lost .0398 against the Euro so one Euro will buy US$1.298. The market was optimistic that the economy will improve now that the election is over and Obama is expected to win. That's it for today from Atlanta.

11/3/08- Market Flat as Election Nears

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11/3/08 - Today the Dow closed at 9,319.83 down 5.18 while NASDAQ gained 5.38 to close at 1,726.33. The S&P 500 was down 2.45 to close at 966.30. The Ten Year Treasury Note closed at 100.69 up .34 pushing the down to 3.91%. Oil was down $3.90 per barrel to close at $63.91. The U.S. Dollars gained .00985 against the Euro so one Euro will buy US$1.26582. The market was quiet today with low volume on the NYSE of just over 1 billion shares in anticipation of the election tomorrow of Obama. That's it for today from Atlanta.

10/31/08- Market Continues to Rise as Buyers Seek Bargains

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10/31/08 - Today the Dow closed at 9,325.01 up 144.32 while NASDAQ gained 22.43 to close at 1,720.95. The S&P 500 was up 14.66 to close at 968.75. The Ten Year Treasury Note closed at 100.25 up .03 pushing the yield to 3.96%. Oil was up $1.85 per barrel to close at $67.81. The U.S. Dollars gained .00985 against the Euro so one Euro will buy US$1.27616. The market's rally was the result of continued optimism that maybe the street has seen the worst and the market has bottomed. Have a safe Halloween, Boo! from Atlanta.

10/30/08- Market Gains on Better Than Expected Economic News

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10/30/08 - Today the Dow closed at 9,180.69 up 189.73 while NASDAQ gained 41.31 to close at 1,698.52. The S&P 500 was up 24 to close at 954.09. The Ten Year Treasury Note closed at 100.34 down .81 pushing the yield up to 3.95%. Oil was down $1.54 per barrel to close at $65.96. The U.S. Dollars gained .00185 against the Euro so one Euro will buy US$1.29601. The market's rally was the result of better than expected economic news in addition to the central bank's loosening of the credit market. That's all from Atlanta.

10/29/08Dow Falls on Concerns of GE '09 Revenues

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10/29/08 - Today the Dow closed at 8,990.96 down 74.16 while NASDAQ gained 7.74 to close at 1,657.21. The S&P 500 was down 10.42 to close at 930.09. The Ten Year Treasury Note closed at 101.16 down .63 pushing the yield up to 3.85%. Oil was up $4.77 per barrel to close at $67.50. The U.S. Dollars gained .00235 against the Euro so one Euro will buy US$1.29551. The market's rally was cut short by headlines regarding GE's announcement that they would try to keep profits for '09 the same as for '08 which implied cost cutting. That's all from Atlanta.

10/14/08- Market Slips Again

10/14/08-Tuesday: The Dow was down today 76.62 to close at 9,310.99 while the S&P 500 lost 5.34 to close at 998.01. NASDAQ was down 65.24 to close at 1,779.01. Oil dropped $2.88 per barrel to close at $78.80 while the Ten Year Treasury Note was down 1.53 to close at 99.44 pushing the yield to 4.07%. The dollar lost .00557 against the Euro so that one Euro will buy $US 1.36575. The market is still uncertain about whether the international steps to shore up worldwide credit markets will have the desired effects. That's it for today from Atlanta.

10/13/08- Dow Gains 936.42; the Most Since 1933

10/13/08 - Monday- Today the Dow gained 936.42 to close at 9,387.61 while the S&P 500 jumped 104.13 to close at 1,003.35. NASDAQ closed at 1,844.25 up 194.74. Oil gained 43.69 per barrel to close at 81.68. The Ten Year Treasury Note was down .91 at 100.97 for a 3.88% yield. The dollar lost .00369 against the Euro so one Euro buys $US 1.3599. Today's stunning gains were the result of bargain hunters figuring the bottom has been hit. The street showed confidence in international efforts to ease the credit crunch. That's it for today from Atlanta.

10/10/08- Dow Continues Its Fall; Down by 128

10/10/08- The Dow fell another 128 points today to close at 8,451.19 while the S&P 500 lost 10.70 to close at 899.22. The NASDAQ gained 4.39 to close at 1,649.51. Oil dropped $8.63 per barrel to close at $77.99 per barrel. The Ten Year Treasury Note lost .91 to close at 100.97 pushing the yield up to 3.88%. The dollar gained .02004 against the Euro so one Euro will buy$US 1.33976. The markets have dropped significantly since last Friday when the Dow closed at 10,325 a loss of 1,874. The S&P 500 lost 200 since last Friday and NASDAQ lost 267. Oil went from 93.88 to 77.99 in a week's time, a lost of $15.89 per barrel. The Ten Year Treasury went from 103.19 down to 100.97. The dollar gained .04088 against the Euro this past week. That's it from Atlanta for the week.

10/9/08-Panic on Wall Street as Dow Hits 5 Year Low

10/9/08-The Dow plunged 678.91 today to close below 9,000 at 8,579.13; the S&P 500 hit its low for the year dropping 75.02 to close below 1,000 at 909.92, down 35% year to date. NASDAQ closed at 1,645.12 down 95.21. The Ten Year Treasury Note was down $1.19 to close at $101.78 pushing the yield to 3.77%. Oil was down $1.81 to close at $86.62 per barrel. The U.S. Dollar gained .00297 against the Euro so one Euro will buy $US1.36092. Due to slumping auto sales worldwide Standard & Poors placed General Motors (GM 5.26, -1.65) on CreditWatch Negative. As credit markets seize and the economic crisis worsens investors have little confidence that the Fed Reserve's efforts to cut interest rates and the bailout measures will solve this unprecedented global, technologically interwoven, highly leveraged financial deconstruction. That's it for today.

10/8/08- Market Continues its Plunge on Global Economic Worries

10/8/08- Yet again the Dow plunged today, this time losing 189.01 to close at 9,258.10 while the S&P 500 lost 11.29 to close at 984.94. NASDAQ lost 14.55 to close at 1740.33. The Ten Year U.S. Treasury Note was down $1.38 to close at 102.72 pushing the yield up to 3.669%. Oil was down .28 per barrel to close at 88.43 per barrel. The dollar lost against the Euro .00336 so one Euro will buy $US 1.36743. Today's decline was due to the turmoil in the global markets even though the Feds cut interest rates so that the fed funds rate is now 1.50% while the discount rate is 1.75%. Large retailers reported a decline in September same-store sales and several cut third quarter earnings outlook. The uncertainty as to whether the market has bottomed will continue into tomorrow's trading. That's it for today from Atlanta.

10/7/08- S&P Suffers 5th Down Day in a Row; Dow Plunges 508

10/7/08- The Dow fell 508.39 today to close at 9,447.11 while the S&P 500 plunged 60.66 to close at 996.23. NASDAQ lost 108.08 to close at 1754.88. Oil rose $2.25 per barrel to cose at $90.06 per barrel. The Ten Year Treasury Note was down .22 to close at 104.25 pushing the yield up to 3.49%. The dollar lost .01322 against the Euro so one Euro will buy $US 1.36184. Today's disastrous day resulted from Chairman Bernanke's remarks concerning increased economic risks and Bank of America announcing worse than expected earnings and a dividend cut. The market is now in uncharted territory and no one can say with certainty what will happen tomorrow including this observer. That's it from Atlanta for today.

10/6/08-Dow Plunges on Global Fears

10/6/08 - At one point today, the Dow was down close to 800 points but came back somewhat and closed at 9,955.50 down 369.88 while NASDAQ was down 84.43 to close at 1,862.96. The S&P 500 dropped 42.34 to close at 1,056.89. Oil was down $6.07 per barrel to close at $87.81 per barrel. The Ten Year Treasury Note was up $1.22 to close at $104.44 driving the yield down to 3.46%. The dollar gained .01331 against the Euro so one Euro will buy $US 1.35300. Today's big decline is the result of tight credit markets, overseas concerns about economic slowdown, and doubts about whether the U.S. bailout plan will work. That's it for today from Atlanta.

10/3/08-Market Declines Again Due to Financial Sector Worries

10/3/08- The Dow lost 157.47 today to close at 10,325.38; NASDAQ lost 29.33 to close at 1,947.39 while the S&P 500 was down 15.05 to close at 1,099.23. Oil continued to drop losing .09 per barrel to close at 93.88 per barrel. the Ten Year Treasury Note continues to climb, it rose .19 to pushing the yield down to 3.60%. The Dollar gained again against the Euro by .00134 so one Euro will buy $US 1.38064. Today's losses would have been worse but for the fact that the House passed and the President signed the revised $700 billion bailout bill. The bad news pushing the market down was September nonfarm payroll fell 159,000 worse than expected and unemployment remains at 6.1%. Also, Citigroup will challenge the deal struck between Wells Fargo and Wachovia that would replace Citigroup with Wells Fargo as Wachovia's acquirer. This was one of the worst weeks in the market's history, the Dow fell 818, NASDAQ fell 236 and the S&P 500 fell 114. The only positives were that oil fell for the week $13.01 per barrel and the US Dollar gained against the Euro by .8135. As would be expected, the Ten Year Treasury Note gained during the week by $1.97 pushing the yield down .24%. That's it from Atlanta for this week.

10/2/08- Market Plunges on Economy Fears

10/2/08- The Dow plunged 348.22 points today to close at 10,482.85; the S&P 500 lost 46.78 to close at 1,114.28 and NASDAQ closed at 1,976.72 down 92.68. The Ten Year Treasury Note gained .91 to close at 103 driving the yield down to 3.63%. Oil lost $4.56 per barrel to close at $93.97. The dollar gained .02265 against the Euro so that one Euro will buy $US1.38007. Today's bad day was the result of bad economic news - weekly jobless claim rose more than expected while August factory orders declined worse than expected. There is still concern that the bailout legislation will not pass the House even though the Senate approved it. That's it for today from Atlanta.

10/1/08-Market Dips Modestly on Hopes Senate will Pass Bailout Plan Tonight

10/1/08- The Dow lost 19.59 today to close at 10,831.07 while NASDAQ lost 22.48 to close at 2,069.40. The S&P 500 was down 3.65 to close at 1,161.09. Oil fell $2.11 per barrel to close at 98.53. The Ten Year Treasury Note was up .66 to close at $102.09 to drive the yield down to 3.74%. The dollar gained .01169 against the Euro so one Euro will buy $US 1.40154. Today's flat performance was due to the belief that the Senate will pass a revised version of the bailout plan that was rejected last week. Also, private employment fell by 8,000 in September which was less than expected. The market was bolstered by GE selling a chunk of its stock to Berkshire Hathaway. That's it for today from Atlanta.

9/30/08-Market Gains Back Half of Yesterday's Loss

9/30/08-The Dow bounced back gaining 485.21 to close at 10,850.66 today; NASDAQ closed at 2,082.33 up 98.60 while the S&P 500 was up 58.22 to close at 1,164.74. Oil gained $.427 per barrel to close at $100.64. Treasury Ten Year Notes were down $2.00 to close at 101.28 pushing the yield up to 3.84%. The dollar gained against the Euro by .03372 so that one Euro will buy $US1.4058. Today's gains were fueled by the belief that next week Congress will pass a new financial rescue plan. Also, consumer confidence was up for September, unexpectedly so. That is it from Atlanta.

9/29/08- Dow Down 770.59!

9/29/08- The Dow plunged 770.59 today to close at 10,372.54 while the S&P 500 lost 106.21 to close at 1,107.06. NASDAQ closed at 1,983.73 down 199.61. Oil dropped 10.52 per barrel to close at 96.37 per barrel. The Ten Year Treasury Note was up 1.94 to 103.06 pushing the yield down to 3.62%. The dollar gained against the Euro .00588 so one Euro will buy $US 1.14492. This disastrous day for the market is obviously the result of Congress failing to pass the Emergency Stabilization Act of 2008. The S&P has not declined this much since 10/27/97. That's it from Atlanta where we still don't have gas.

9/26/08- Dow Jumps While NASDAQ Falls on Uncertainty

9/27/08 - The Dow climbed 121.07 to close at 11,143.13 while NASDAQ was down 3.23 to close at 2,183.34. the S&P 500 was up 4.09 to close at 1,213.27. Oil was down 1.13 per barrel to close at 106.89. The Ten Year Treasury Note was up .09 to close at 101.25 to push the yield down to 3.84%. The Dollar gained against the Euro by .0021 so that one Euro will be $US 1.46199. Uncertainty regarding the $700 bailout plan caused the mixed result. Bargain hunters were purchasing financial sector stocks. For the week, the Dow was down 245.31; NASDAQ was down 90.56; the S&P 500 was down 43; oil was down $4.14 per barrel, the U.S. Ten Year Treasury Note was down .34 and the Dollar gain .01481 against the Euro. Have a great weekend, signing off from a down week in Atlanta.

9/25/08- Market Gains on Optimism that $700 Billion Plan will be Approved by Congress

9/25/08- The Dow gained 198.17 to close at 11,023.34 while NASDAQ was up 30.89 to close at 2,186.57. The S&P 500 closed at 1, 209.66 up 23.79. Oil was up 2.29 per barrel to close at 108.02. The Ten year treasury note was down .3 to close at 101.22 pushing the yield up to 3.85. The dollar lost .00128 against the Euro so that one Euro will buy $US 1.46327. Today's market gains were caused by a belief that Congress has enough votes to pass Treasury Secretary's Paulson's $700 billion rescue plan. However, we agree with former SEC Commissioner Raul Campos' comments we heard him make at a luncheon speech in Atlanta yesterday that the Federal government could provide various back-stops and loan guarantees without paying out a penny and achieve the same objectives as writing a check for $700 billion. That is all from Atlanta.

9/24/08 - Market is Mixed on Buffet's Goldman Bailout and Housing Sales Fall

9/24/08- The Dow slipped 29 to close at 10,825.17 while NASDAQ was up 2.35 to close at 2,155.68. The S&P 500 was down 2.35 to close at 1,185.87. Oil was down .88 per barrel to close at 105.73. The Ten Year Treasury Note was up. 28 bringing the yield down to 3.77%. The dollar gained against the Euro .003 so that one Euro buys $US 1.46306. The market reacted positively to Warren Buffet's willingness to invest $5 billion in Goldman Sachs which will mean real money when added to the $5 billion that Goldman intends to raise in a public offering. Bad news came in the form of the release of housing statistics that shows recent home sales falling 2.2% instead of the expected 1.2%. That's it from Atlanta for today.

9/23/08-Markets Continues to Fall on Concerns about Bailout Plan

9/23/08- The Dow continues to drop, today by 161.52 to close at 10,854.17. NASDAQ lost 25.64 to close at 2,153.34 while the S&P 500 lost 25.64 to close at 2,153.34. Oil lost 2.76 per barrel to close at 106.61. The Ten Year Treasury Note gained .16 to close at 101.44 driving the yield down to 3.82%. The Dollar gained against the Euro .00980 so one Euro buys US$ 1.47059. Today's market dip was the result of uncertainty resulting from testimony before the Senate Banking Committee by Fed. Chairman Bernanke, Treasury Secretary Paulson and SEC Chairman Cox who are arguing for the purchase of $700 billion in toxic mortgages. There were several downgrades of earnings estimates. That's it for today from Atlanta where I waited an hour today to buy gasoline.

9/22/08- Dow Drops on Fears of Goldman & Morgan Restructuring

9/22/08 - The Dow dropped 372.75 to close at 11,015.69; NASDAQ dropped 94.92 to close at 2,178.98. The S&P 500 lost 47.99 to close at 1,207.99. Oil gained 6.62 per barrel to close at 109.37. Ten year treasury notes were down .13 to close at 101.47 increasing the yield to 3.82%. The euro gained .03114 against the dollar so one Euro buys US$ 1.4804. Today's losses were the result of fears on the Street regarding the Fed Reserve's decision to allow Goldman Sachs and Morgan Stanley to convert to a bank holding company structure and the uncertainties related to that. More tomorrow from Atlanta.

9/19/08-Dow Soars on Fed Intervention to Buy Bad Debt

The Dow gained 368.75 to close at 11,388.44 while NASDAQ gained 74.80 to close at 2,273.90. S&P 500 closed at 1,255.08 up 48.57. Oil rose 5.21 per barrel to close at 102.75 per barrel. The Ten Year Treasury Note lost 2.19 to close at 101.59 to drive the yield up to 3.80%. The Euro gained .0141 against the US Dollar so one Euro buys $US 1.44718. Volume on NYSE approached 3 billion shares. The market's gain today were caused by announcements by the Feds that they would buy distressed mortgages and SEC would temporarily ban short selling in financial stocks and adopt other rules pertaining to short selling. Starting Monday Kraft replaces AIG in the 30 stocks that make up the DJIA. The market was slightly down for the week after a historic, roller coaster week. Have a great weekend - that's all from Atlanta.

9/18/08- Stocks Rally on Hopes of RTC-like Solution to Credit Woes

The Dow almost regained yesterday's loss by gaining 410.03 to close at 11,019.69 while NASDAQ gained 100.25 to close at 2,199.10. The S&P 500 closed at 1,206.51 up 50.12. Oil rose .58 per barrel to close at 97.54 per barrel. The 10 year treasury note was down 1.06 to close at 103.78 boosting the yield to 3.54%. The Euro was unchanged against the US Dollar so one Euro buys US$ 1.43308. Volume on the Big Board was almost 2.5 billion shares. Today's market upswing was the result that the Feds may create a Resolution Trust like structure to deal with the credit crisis facing the economy. That's it for today from Atlanta.

9/17/08- Market Swoons as LIBOR Rate Doubles

The Dow plummeted 449.36 to close at 10,609.66 while the S&P 500 shed 57.21 to close at 1156.39 and NASDAQ closed at 2,098.85 down 109.05. Oil was up 5.94 per barrel to close at 96.96. Ten year treasury note was up .63 bringing the yield down to 3.41%. The U.S. Dollar lost .02204 against the Euro so one Euro buys US $ 1.43308. Fear gripped Wall Street as things not seen rocked the Street, the major factor being the LIBOR rate doubling overnight! More on the turbulent market from Atlanta tomorrow.

9/16/08 Market Rebounds as Financials Rally

The Dow climbed back above the 11000 mark and closed at 11,059.02 up 141.51 while the S&P 500 gained 20.90 to close at 1,213.60 and NASDAQ closed at 2,207.90 gaining 27.99. Oil continues to fall dropping 4.67 per barrel to close at 91.20 per barrel. Ten year treasury notes continue to gain - up to 104.22 driving the yield down to 3.49%. The dollar lost .00040 against the Euro as one Euro will buy $1.41141. All this because the Fed kept interest rates unchanged, Lehman finds a buyer in Barclay for some of its assets and the market feels the financial sector is basically sound. That's it from Atlanta.

9/15/08- Market Free Falls on Financial Sector Woes

The Dow fell 504.48 today to close at 10,917,51; NASDAQ fell 81.36 to close at 2,179.91 and the S&P 500 almost reached its 52 week low which was 1200.44 at 7/15 by dripping 58.74 to close at 1,198.96. Oil dropped 5.56 per barrel to close at 95.69; while the 10 yr. treasury note rose 2.31 to close at 104.59 to drive the yield down to 3.44%. The dollar lost .00041 against the Euro so that one Euro buys $US 1.43123. Today's horrible day was caused by the financial sector's problems headed by Lehman's Chapter XI filing (their broker-dealer subs. did not file). That's it from Atlanta.

9/12/08 - Dow Flat on Financial Fears

The Dow closed at 11,421.94 today down 22.72; S&P was up 2.65 to close at 1,251.70 and NASDAQ closed at 2,261.27 up 3.05. Oil was up .32 to close at 101.25; the ten year treasury note was down .16 driving the yiel up to 2.94%. The U.S. Dollar lost .02015 against the Euro so one Euro will buy $US 1.42248. Trading was heavy at 1.8 billion shares. The market was uncertain about where the financial sector is headed with the fate of Lehman, AIG and Washington Mutual fueling the concerns. For the week the Dow was up 222, the S&P 500 was up 10 and NASDAQ was up 6. From on the road, have a great weekend.

9/11/08- Market Gains on Hopeful Housing News

The Dow aimed 164.79 to close at 11,433.71; the S&P 500 gained 17.01 to close at 1,249.05 and NASDAQ gained 29.52 to close at 2,258.22. Oil was down 1.71 to close at 100.87 and the yield on the Ten Year U.S. Treasury Note was down to 3.62 because the Note closed up .03 at 103.06 and the US Dollar gained .00214 against the Euro so one Euro buys $US 1.39501. The rise in the Dow was caused by Fed. Res. Vice Chairman Donald Cohn saying that housing price declines are slowing. We may have seen the bottoming out of the housing market. That is it for today from Muscle Shoals, Alabama.

9/10/08-Market Rises as Dollar Gains and Oil Falls

The Dow gained 38.19 to close at 11,268.92 today while the S&P 500 closed at 1,232.04 up 7.53. NASDAQ gained 18.89 to close at 2,228.70. The Euro declined against the Dollar so 1 Euro will buy US$1.39762 a gain for the US dollar of .01301. This caused oil to drop .68 to close at 102.58 a barrel. Ten year Treasury Notes dropped .53 to close at 103.03 driving the yield up to 3.63. The fall of the Euro was the main factor in today's market volatility and ultimate rise because the European Union decreased its '08 forecast for the European economy from an increase of 2.0 down to 1.4 and forecasted that UK, Spain and Germany will enter into a recession. That's it from Atlanta for today.

9/9/08- Market Plunges on Fear of Lehman

The Dow dropped 280.01 to close at 11,230.73; the S&P 500 dropped 43.28 to close at 1,224.51 and NASDAQ closed at 2,209.81 down 59.95. The only good news was oil was down 3.08 to close at 103.26. Ten year treasury notes were up .69 to close at 103.38 to bring the yield down to 3.59% and the dollar gained .0006 against the Euro so one Euro buys US $1.41383. The bad day was caused by fears about the financial sector and profit taking in the energy sector. Volume was heavy at 1.7 billion shares. There was fears that Lehman Korean suitor was out of the picture (LEH 7.79 down 6.36). That's it from a dreary Atlanta.

9/8/08-Stocks Rally on News of Fannie Mae and Freddie Mac Bailout

The Dow was up 290.43 today to close at 11,510.74; S&P 500 gained 25.48 to close at 1,267.79 and NASDAQ closed at 2,269.76 up 13.88. Oil closed at 106.34 up .11; the ten year treasury note was up .34 closing at 102.75 bringing the yield down to 3.66% and the Dollar gained .02341 against the Euro so one Euro buys U.S. $1.41523. The good day in the market was because of the federal $25 billion bailout of FannieMae (FNM .70 down 6.34) and FreddieMac (FRE .89 down 4.12) even though shareholders in both those entities got slammed. That's it from Atlanta.

9/5/08 - Market Rises on Financial Sector Gains

The Dow gained 32.73 today to close at 11,220.96 while the S&P 500 gained 5.46 to close at 1,242.29 up 5.46. NASDAQ closed at 2,255 down 3.16. Oil fell 1.66 to close at 106.23 per barrel. The Ten Year Treasury Note fell .25 to close at 102.81 pushing the yield up to 3.66%. The Dollar gained .0002 against the Euro so one Euro pays $ U.S. 1.42430. Today's market moved as it did because there financials gained which overcame the bad news that unemployment rate has risen to 6.1%. For the week the Dow lost 325, the S&P lost 41 and NASDAQ lost 113. The 10 year treasury note's yield fell from 3.85 to 3.66 for the week and oil was down for the week by $9 per barrel. The U.S. Dollar gained .0434 against the Euro this week. Have a great weekend, signing off from Atlanta.

9/4/08- Market Dives as Financial Sector Falls

The Dow dropped 344.65 today to close at 11,188.23, while the S&P dropped 38.15 to close at 1,236.83. NASDAQ closed at 2,259.04 down 74.69. Some good news was oil was down 1.46 to close at 107.89 per barrel. The 10 year treasury note was up .56 to close at 103.03 bringing the yield down to 3.63. The dollar gained .01703 against the Euro so one Euro buys $US 1.43246. Financial sector continues to drag the market down because of fears of worsening economic news. That's it from Atlanta.

9/3/08- - Market Mixed on Negative Fed Reserve News

The Dow closed at 11,532.88 up 15.96 while the S&P 500 lost 2.58 to close at 1,275 and NASDAQ lost 15.51 to close at 2,333.73. Oil continues to slide as it lost .36 to close at 109.35 barrel. Ten year treasury notes gained 3.68 to close at 102.63 bringing the yield down to 3.68. The U.S. dollar gained .00148 against the Euro so one Euro buys U.S. $1.45075. Trading continues to be light but not as light as last week. Today's sluggish day resulted from reaction to the Fed's Beige Book that said economic activity slowed in all 12 Fed. Reserve Districts. Take care from Atlanta.

9/2/08 - Stocks Fall Slightly on Bad Economic News

The Dow fell 26.63 to close at 11,516; the S&P 500 dropped 5.25 to close at 1,277.58 and the NASDAQ closed at 2,349.24 down 18.28. Oil prices fell 5.78 to close at 109.71. The dollar gained .0087 against the Euro so that one Euro buys $US Dollar 1.45624. July construction spending continued its poortrend and the manufacturing sector continues to contract. That's it from the deep south for today.

8/29/08 - Market Drops on Broad Based Pessimism

The Dow plunged 169.76 to close today at 11,545.42 while S&P 500 lost 17.77 to close at 1,282.91. NASDAQ closed at 2,367.52 down 44.12. Oil was down .13 to close at 115.46 per barrel and the 10 Year Treasury Note was down .56 driving the yield up to 3.85. The Dollar gained .003 against the Euro so one Euro buys $US 1.4677. The markets dropped today despite a decline in oil prices due to an overall pessimism in the markets especially in the financial sector. For the week, the Dow was down 83, the S&P was down 10 and NASDAQ was down 44. Have a safe holiday weekend, signing off from Atlanta.

8/28/08 - Stocks Trade Higher as Oil Drops

The Dow was up today 212.18 to close at 11,714.69 while the S&P 500 gained 18.86 to close at 1,300.52. NASDAQ was up 9.18 to close at 2,411.64. Oil fell $2.56 to close at $115.59 per barrel. The 10 year treasury Note was down .19 to close at 101.75 increasing the yield to 3.78%. The US dollar gained .00152 so that one Euro buys $US Dollar 1.47037. Trading was light as expected heading into a holiday weekend. Increased inventories of oil drove oil down and boosted the market. That's it for today from the new south.

8/27/08 Market Up on Expected Good Economic News

The Dow gained 89.64 today to close at 11,502.51 while the S&P was up 10.15 to close at 1,281.66. NASDAQ closed at 2,382.46 up 20.49. Oil closed at 118.15 per barrel up 1.88. The ten year treasury note gained .09 to close at 101.94 driving the yield down to 3.76. The dollar slipped against the Euro by .0077 so that one Euro will buy $1.47297 U.S. The market was up today because it is anticipating tomorrow's good GDP numbers that are expected to be up to 2.7% from 1.9%. Also the jobless claims for the week ending 8/23 is expected to be down a bit to 425,000. That's it from the sunny south.

8/26/08 - Market Mixed on Light Trading

The Dow had a modest gain today of 26.62 to close at 11,412.87 while the S&P 500 gained 4.67 to close at 1,271.51. NASDAQ closed at 2,361.97 down 3.62. Oil was up 1.16 to close at 116.27 per barrel. The Euro lost .01 against the dollar so one Euro will buy $1.46542 US. Ten yr. note was up 1.16 to 116.27 driving the yield down to 3.78. Trading was light. The lackluster day was partly due to the FDIC saying problem institutions had bad assets of $78 billion which was an increase from $26 billion. That's it from Atlanta for today.

8/25/08 - Market Down on Bad Housing, Auto & Oil News

The Dow dropped 241.73 today to close at 11, 386 while the S&P 500 lost 25.33 to close at 1266.87. NASDAQ closed down 49.12 at 2365.59. Oil was up .52 to $115.11 per barrel. The Ten Yr. Treasury Note gained 7.2 to close up to 101.75 to decrease the yield to 3.78. The Dollar lost .003 against the Euro. One Euro will buy 1.47471 US Dollar. Besides the increase in oil the market was down because of fears that there are increased housing inventories even though July home sales were up a bit. It looks like auto sales for August will be down as well. The techs were pulled down by Apple, Research in Motion & Qualcom. Have a good evening from a rainy Atlanta.

8/22 Market Enjoys Big Gain as Oil Drops

The Dow closed up 197.85 at 11,628.06; the S&P 500 closed at 1292.20 up 14.48 and NASDAQ was up 34.33 to close at 2414.71. Oil dropped 6.59 to $114.59 per barrel. For the week the Dow was down 31 points or .3% while NASDAQ was down 1.5% and the S&P was down .5%. The 10 year Treasury Note was down .34 at 101.03 yielding 3.87%. The U.S. Dollar was up slightly against the Euro and a dollar would buy .67670 per Euro and one Euro will buy $1.47776 US. The financial sector and the tech sectors both had good days with the energy sector being today's laggard. Volume was light today, less than 900,000 shares were traded on the NYSE. Lehman Brothers (LEH 14.41 up .69) was up on news that the Korea Development Bank may buy it. Drop in airline helped airline stocks.Have a great weekend from Atlanta.

8/21/08 Dow Up A Bit on Mixed News & Oil Goes Up

The Dow closed today at 1430.21 up 12.78; S&P was up 3.18 to close at 1277.72 & NASDAQ closed at 2380.38 down 8.70 the bad news is oil closed up 5.62 at above $121.18 per barrel, the highest in 2 weeks. Also the dollar was down 1.1% to buy .67090 of Euros (one Euro buys $1.49054 in dollars). Good news was the initial jobless claim for the week ended Aug 16 was 432,000, which was a decrease of 13,000 from the earlier week. Limted Brands (LTD 20.28 up 2.31) and H.J. Heinz (HNZ 51.99 up .28) exceeded earnings expectations. Financials were weak. Merrill Lynch (MER 24.34 down .07) and Lehman Brothers (LEH 13.72 down .01) had down days as did Goldman Sachs (GS 156.42 down 1.83) and Morgan Stanley (MS 37.06 down .34). Intel (INtC 23.05 down .34) and Apple (AAPL 174.29 down 1.55) also were down. Of course, Exxon Mobil (XOM 80.35 up 1.54) and ConocoPhillips (COP 85.05 up 4.20) had good days. The 10 year Treasury Note was down .28 to push the yield to3.83. That is it today from the deep south.

8/20/08 - Dow Up 68.88 Due to Good Earnings from Hewlett-Packard

The Dow closed today at 11417.43 up 68.88 while the S&P 500 gained 7.85 to close at 174.54. NASDAQ closed at 2389.08 up 4.72. The 10 Year Treasury Note was up .08 resulting in a lower yield of 3.80. Oil was up to $114.98 per barrel. There is still concern that Fannie Mae (FNM 4.47 down 1.54) and Freddie Mac (FRE 3.23 down .94) will need a bailout from Uncle Sam. Hewlett-Packard reported earnings for the quarter of .83 (HPQ 46.20 up 2.51). Volume continues to be light. That's it from Buckhead.

8/19/08 Market Declines Due to Rising Wholesale Prices

The Dow lost 130.84 today to close at 11348.55 while the S&P lost 11.91 to close at 1266.69. NASDAQ closed at 2384.36 down 32.62. The bad day was caused by reports that whoelsale prices rose faster than expected and concerns that AIG and Lehman lost more than 5.9% on estiamtes that more write downs are coming. The 10 year Treasury Note was down .05 increasing the yield to 3.83. That's it from Atlanta.

8/18/08 Market Falls on Light Volume as Profits are Taken

The Dow dropped 180.51 to close at 11479.39; the S&P 500 lost 19.60 closing at 1278.60 and NASDAQ closed at 2416.98 down 35.54. Profits were taken as trading was light today and oil prices increased to 112.97 per barrel. Fannie Mae (FNM down 1.76 to close at 6.15) and Freddie Mac (FRE down 1.46 to close at 4.39) hit their lowest levels in 20 years. The 10 yr. Treasury Bill was up .06 to drive the yield down to 3.81. The dollar snapped a three day run of advances and came off its 6 month high to close at 1.4753 per Euro down from 1.4688. That's it today from the Sunshine State.

8/15 Dow Posts Modest Gaiin Due to Retail News

The Dow gained 43.97 to close at 11,659.90 while the S&P gained 5.27 to close at 1298.20. NASDAQ shed 6.82 to close at 1957.56. Retailers had better than expected earnings per share. Nordstrom (JWN 31.54 up 1.32), JCPenney (JCP 39.94 up 3.11), Kohls (KSS 51.79 up 3.52) & Abercrombie & Fitch (ANF 52.59 up .02) led the retail sector. A strong dollar caused oil to drop to less than 114 per barrel. The week saw the Dow lose .6%, the S&P gain .1% and NASDAQ gain a solid 1.6%. Have a great weekend, reporting from the nation's oldest city.

8/14/08 Market Ends 2 Day Slide with Drop in Oil

The market rallied today with the Dow closing at 11,615.93 up 82.97 while the S&P closed at 2453.67 up 25.05. NASDAQ gained 25.05 to close at 2453.67. The main driver in todays rise was oil closing at 115.01 per barrel down .99 due to decreased demand. The financial sector had a good day driven by Fannie Mae and Freddie Mac. Walmart continued to lead the retail sector. That is it today from the sunshine state.

8/13/08 Markets Falls for Second Day as Oil Rises

8/13/08 The stock market continued its decline as the DJIA shed 109.42 to close at 11,533 and NASDAQ closed at 2,428.62 down 1.99. S&P closed at 1,285.80 down 3.79. The market's drop was caused by a rise in crude to 116.31 per barrel prices resulting from the release of lower refined gasoline inventories. Also, the financial sector fell as Bank of America (BAC 28.93 down 2.20) fell on news that its subsidiary Countrywide Financial was being sued by states, Morgan Stanley (MS 40.17 down 2.33) and Lehman were downgraded by Merrill. Retail sector saw bad news with weak July retail sales data being disappointing. It could have been worse. That's it for today from the land of the peaches.

8/12/08 Stock Market Declines Due to Pessimism in Financial & Retail Sectors

The Dow gave up yesterday's gains dropping 139.96 to close at 11642.39 while NASDAQ (with more tech stocks than the Dow) declined only 9.34 to 2430.61. S&P 500 closed at 1289.59 down 15.73. The Financial Sectors got hit with news that JP Morgan Chase (JPM 37.99 down 3.90) was writing off $1.5 billion and Morgan Stanley's (MS 42.61 down 2.78) debt got downgraded. Wachovia (WB 16.04 down 2.17) and Goldman Sachs (GS 106.79 down 11.21) also took hits due to weakened earnings estimates. UBS (UBS 20.35 down 1.34) announced it was restructuring its operating units. The damage would have been worse but for two good news items: crude oil continued to fall closing at $113.31 a barrel and the trade deficit fell from $43.1 billion (May) to $39.1 billion. That's all from the land of the peaches.

8/11/08 Market Shows Modest Gains as Oil Prices Drop

The trading week got off to a good start as the Dow closed up 47.46 at 11781.78; while NASDAQ gained 25.85 to close at 2439.95 and the S&P closed at 1305.29 up 8.97. Oil dropped .5% to 114.62 a barrel. The financial sector was up due to the Fed announcing that over the past three months domestic lenders have tightened their lending requirements. Retail sector was strong led by Amazon (AMZN) up 7.54 to 88.05 on favorable reports that their electronic book reader, Kindle, had strong sales. Walmart (WMT 58.49 +.63) will be announcing quarterly earnings later this week along with several department stores. That's it for today from the land of the peaches.

8/8/08 Market Closes With Strong Gains Due to Lower Oil Prices

The Dow closed up 302.89 at 11734.32; NASDAQ gained 58.37 to close at 2414.10 & the S&P closed at1296.32 up 30.25 because of several items of good news. Oil dropped below $115 per barrel while the dollar gained as the dollar index was up 1.8%. Financial sector enjoyed a good day with Merrill Lynch (MER) gaining .77 to close at 26.86, Bank of America (BAC) gaining .73 to close at 32.25 and MBIA (MBI) closing at 8.57, gaining .29. An exception was Fannie Mae (FNM) which lost .90 to close at 9.05 due to a wider than expected loss and due to its cutting its quarterly dividend from .25 to .05. Have a great weekend from the land of the peaches.

8/7/08 Market Falls as Unemployment Claims Hit 6 Yr. High

The Dow fell 224.56 to close today at 11431.43 while NASDAQ lost 22.64 to close at 2355.73 and S&P closed at 1266.07 dropping 23.12. For the week ended 8/2 jobless claims rose 1.6% to 455,000. Other bad news included crude oil rising to $119.96 per barrel and AIG (AIG) leading the financial sector decline as it lost 5.25 to close at 23.84 as it announced 2d qtr. losses of $5.4 billion. Citigroup (C) dropped 1.23 to 18.47 on the announcement that it agreed to settle with the NY Attorney Geneal regarding claims that Citi lied to investors by marketing auction rate securities as safe. Wal-Mart (WMT) fell 3.80 to close at 56.96 due to less than expected increase in July same-sale store sales. The only good news was that June pending home sales rose .3% month-over-month, beating the anticiapted decline of 1.0%. That's it for today from the land of the peaches.

8/6/08 Market Gains as Oil Prices Fall for 3rd Straight Day

The Dow gained 40.30 today to close at 11,656.07. NASDAQ was up 28.54 closing at 2378.37 and the S&P 500 gained 4.31 to 1289.19. The good day was caused by large-cap techs, mainly Cisco (CSCO) gaining 1.31 to close at 23.96 and Microsoft (MCFT) gaining .80 to close at 27.01. The other good news was crude oil falling .7% to 118.37 per barrel - this is the third straight day we've seen crude drop. The bad news was Freddie Mac (FRE) falling 1.54 to close at 6.50 on news they were significantly increasing their reserves for bad loans. That is it for today from the land of the peaches.