Daily Investment Interpretations
August 1, 2008
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.