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…