Daily Investment Interpretations

September 4, 2008

2008-9-4  The price of oil dropped to $107.89 a barrel today, but the markets took a tumble on no praticularly obvious bad news. The Nasdaq dropped 74.69 points to 2,259.04. The Dow plummeted 344.66 to 11,188.23, and the S&P gave up 38.15 points to close at 1,236.83. The VIX jumped 2 points to close at 24. There's pessimism for tomorrow in anticipation of an employment report that's predicted to be a real downer.
    In the meantime, James Dines sees market pessimism as cause of optimism: Worse before better. (Peter Brimelow)