Wednesday, September 3, 2008

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.