Daily Investment Interpretations

July 18, 2008

2008-7-18:  Oil dropped below $130 a barrel today, closing at $128.88 a barrel. In spite of this, perhaps because Microsoft and Google's earnings disappointed investor's, the market indices changed very little for the day. The S&P 500 rose 0.03%, the Nasdaq Composite fell 1.28% (presumably because of the tech stocks' earnings disappointments), and the Dow rose 0.44%. Meanwhile, our friend, the VIX, dropped from 25 to 24.