Wednesday, August 27, 2008

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.