Market Commentary 10/27/2008
The Markets
Declines in global markets and some disappointing third-quarter corporate earnings reports took the markets lower last week. The Federal Reserve meets this week in its last session before the presidential election. Economists expect the Fed to drop its rate a quarter to a half percentage point. This would reduce the prime rate, which banks and credit card companies charge consumers, to 4.25 percent or 4 percent, depending on the depth of the cut. For the week, the Dow lost 5.31 percent to finish at 8,378.95. The S&P fell 6.76 percent to 876.77, and the NASDAQ declined 9.31 percent to close the week at 1,552.03.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
Drop Of Oil - On Wednesday, oil hit its lowest price in 16 months, dropping to $66.75. Read more…
Market Commentary 10/20/2008
The Markets
The major indexes found positive ground last week after dropping precipitously the week prior. Trading see-sawed throughout the week as the markets sought an end to the decline. The Dow finished the week up 4.79 percent to 8,852.22. The S&P gained 4.61 percent to end the week at 940.55, and the NASDAQ added 3.75 percent to close the week at 1,711.29.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
Improved Social Life - About 50 million Social Security recipients will get a 5.8 percent bump in benefits beginning in January 2009, Read more…
Market Commentary 10/13/2008
The Markets
Trading activity on Friday showed that at least some investors believe the markets to be near a bottom, after one of the most volatile weeks in Wall Street history. Down 468 points at 3 p.m., the Dow jumped 790 points to +322 points just after 3:30 p.m. before a round of profit taking brought it down to close at -128 points. For the week, the Dow lost 18.09 percent to end at 8,451.49. The S&P lost 18.14 percent to finish the week at 899.22, and the NASDAQ dropped 15.30 percent to close the week at 1,649.51.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
Let’s Go Out To Dinner - Americans spend $1.5 billion a day at restaurants and bars (Source: National Restaurant Association, BTN Research). Read more…
Market Commentary 10/6/2008
The Markets
The week that began with the House rejecting a plan for the government to buy the bad assets weighing down banks and other financial institutions ended with the House approving a sweetened package passed by the Senate. The markets experienced dramatic drops Monday when the first bill failed, then fluctuated throughout the week waiting for Congress’ next move. The Dow ended the week down 7.30 percent to close at 10,325.38. The S&P fell 9.34 percent to finish the week at 1,099.23, and the NASDAQ lost 10.81 percent to end the week at 1,947.39.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
Rebate Expiration Date - Oct. 15, 2008, is the deadline to file a 2007 tax return for those who requested an extension. It is also the deadline for filing a 2007 return to receive an economic stimulus payment. Read more…