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.