Market Commentary 11/10/2008
The Markets
Wall Street enjoyed a record Election Day rally on Tuesday with the Dow and S&P both up more than 3 percent and the NASDAQ up more than 4 percent. The Labor Department unemployment report of 240,000 lost jobs came in lower than Goldman Sachs’ estimate of 300,000 but higher than the median forecast of 200,000. Investors will have more economic data to digest this week with readings on the labor market and trade deficit due Thursday and the October retail sales index coming out Friday. For last week, the Dow ended down 3.93 percent to 8,943.81. The S&P lost 3.78 percent to close the week at 930.99, and the NASDAQ lost 4.27 percent to finish the week at 1,647.40.
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.
Medicare Open Enrollment - Open enrollment for Medicare begins Nov. 15 and continues through Dec. 31, 2008. Read more…