Daily Investment Interpretations

August 24, 2009

2009-8-24:  After advancing 5% in four trading sessions last week, the markets were overdue for a contraction or consolidation. Today, they ended the day virtually unchanged. The NASDAQ Composite fell slightly (2.92 points, -1.59%) to close at 2.017.98, the Dow closed up 3.32 points (0.03%) to settle at 9,509.28 and the S&P 500 added 0.56 points (-0.05%) to end the week at 1,025.57. Oil closed at $72.35 a barrel, while gold fell $11 to $944. The VIX rose ever so slightly to 25.14.
    Tomorrow is "turnaround Tuesday" so the markets will probably fall back.
    President Obama will reappoint Fed Chairman Ben Bernanke to a second term as chairman of the Federal Reserve Board.

    The U. S. economy was still shrinking in July.