Daily Investment Interpretations

August 4, 2008

2008-8-4:  Stocks fell again today, with the Nasdaq dropping 25.4 points to 2,285.56, the S&P 500 giving up 11.3 points to close at 1,249, and the Dow falling 42.17 points to 11,284.15. The big news of the day was that oil hit a new low, dipping at one point below $120 a barrel. At the moment, it's running a little above $120 a barrel (see Irwin Kellner: The law catches up to oil.). The VIX gained 0.92 points to close at about 23.5... a respectable amount of respect for today's problems. 
    Inflation posted its highest monthly gain since 1981.
    Mark Hulbert has just published this article: Lower rate of interest worries contrarians.