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.