9/30/08-Market Gains Back Half of Yesterday's Loss

9/30/08-The Dow bounced back gaining 485.21 to close at 10,850.66 today; NASDAQ closed at 2,082.33 up 98.60 while the S&P 500 was up 58.22 to close at 1,164.74. Oil gained $.427 per barrel to close at $100.64. Treasury Ten Year Notes were down $2.00 to close at 101.28 pushing the yield up to 3.84%. The dollar gained against the Euro by .03372 so that one Euro will buy $US1.4058. Today's gains were fueled by the belief that next week Congress will pass a new financial rescue plan. Also, consumer confidence was up for September, unexpectedly so. That is it from Atlanta.

9/29/08- Dow Down 770.59!

9/29/08- The Dow plunged 770.59 today to close at 10,372.54 while the S&P 500 lost 106.21 to close at 1,107.06. NASDAQ closed at 1,983.73 down 199.61. Oil dropped 10.52 per barrel to close at 96.37 per barrel. The Ten Year Treasury Note was up 1.94 to 103.06 pushing the yield down to 3.62%. The dollar gained against the Euro .00588 so one Euro will buy $US 1.14492. This disastrous day for the market is obviously the result of Congress failing to pass the Emergency Stabilization Act of 2008. The S&P has not declined this much since 10/27/97. That's it from Atlanta where we still don't have gas.

9/26/08- Dow Jumps While NASDAQ Falls on Uncertainty

9/27/08 - The Dow climbed 121.07 to close at 11,143.13 while NASDAQ was down 3.23 to close at 2,183.34. the S&P 500 was up 4.09 to close at 1,213.27. Oil was down 1.13 per barrel to close at 106.89. The Ten Year Treasury Note was up .09 to close at 101.25 to push the yield down to 3.84%. The Dollar gained against the Euro by .0021 so that one Euro will be $US 1.46199. Uncertainty regarding the $700 bailout plan caused the mixed result. Bargain hunters were purchasing financial sector stocks. For the week, the Dow was down 245.31; NASDAQ was down 90.56; the S&P 500 was down 43; oil was down $4.14 per barrel, the U.S. Ten Year Treasury Note was down .34 and the Dollar gain .01481 against the Euro. Have a great weekend, signing off from a down week in Atlanta.

9/25/08- Market Gains on Optimism that $700 Billion Plan will be Approved by Congress

9/25/08- The Dow gained 198.17 to close at 11,023.34 while NASDAQ was up 30.89 to close at 2,186.57. The S&P 500 closed at 1, 209.66 up 23.79. Oil was up 2.29 per barrel to close at 108.02. The Ten year treasury note was down .3 to close at 101.22 pushing the yield up to 3.85. The dollar lost .00128 against the Euro so that one Euro will buy $US 1.46327. Today's market gains were caused by a belief that Congress has enough votes to pass Treasury Secretary's Paulson's $700 billion rescue plan. However, we agree with former SEC Commissioner Raul Campos' comments we heard him make at a luncheon speech in Atlanta yesterday that the Federal government could provide various back-stops and loan guarantees without paying out a penny and achieve the same objectives as writing a check for $700 billion. That is all from Atlanta.

9/24/08 - Market is Mixed on Buffet's Goldman Bailout and Housing Sales Fall

9/24/08- The Dow slipped 29 to close at 10,825.17 while NASDAQ was up 2.35 to close at 2,155.68. The S&P 500 was down 2.35 to close at 1,185.87. Oil was down .88 per barrel to close at 105.73. The Ten Year Treasury Note was up. 28 bringing the yield down to 3.77%. The dollar gained against the Euro .003 so that one Euro buys $US 1.46306. The market reacted positively to Warren Buffet's willingness to invest $5 billion in Goldman Sachs which will mean real money when added to the $5 billion that Goldman intends to raise in a public offering. Bad news came in the form of the release of housing statistics that shows recent home sales falling 2.2% instead of the expected 1.2%. That's it from Atlanta for today.