Daily Investment Interpretations

September 2, 2008

2008-9-2:   In terms of the financial markets, Hurricane Gustav was a no-show. Oil dropped $5.75 a barrel to $109.71 on expectations of a slowing global economy. The markets responded by falling slightly throughout the day because of talk of an OPEC production cut. The Nasdaq fell 18.28 points to 2,349.24. The Dow shaved only 26.63 points to end up at 11,516.92. The S&P dropped 5.25 points to close at 1,277.58. And the VIX jumped to 22, betokening relatively high rates of anxiety. Meanwhile, here is Todd Harrison: Traders ready for a September to remember.