Daily Investment Interpretations
August 24, 2009
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
to close at 2.017.98,
the Dow closed up 3.32
settle at 9,509.28
and the S&P 500 added 0.56
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.