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.