Daily Investment Interpretations

August 1, 2008

2008-8-1:  Stocks closed modestly lower today after dismal results from the Big Three automakers, an increase in the price of oil because of heightened tensions with Iran, and a four-year unemployment rate of 5.7%. (We're almost certainly in a recession.) The Nasdaq dropped 14.59 points to 2.311. The Dow lost 51.7 points to close at 11,326.32. The S&P 500 shed 7 points to 1,260.31. The VIX ended the day at 22.57.
    The credit crisis celebrated its first anniversary today, and is allegedly far from over: On anniversary of credit crisis, more pain expected.