Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, May 03, 2005

More Tuesday News

Today, as expected, the Fed raised the federal-funds rate a quarter point. The rate, at 3%, is higher than it's been in 4 years, but still relatively low when you look at historical numbers. How did this effect the markets? The DOW and the NASDAQ were up 5.25 points to 10,256.95 and 4.42 points to 1,993.07, respectively. The S&P 500 fell only slightly to 1,161.17. In news closer to home... Welcome to the Magnolia State, President Bush. President Bush was at the Nissan plant in Canton today. He gave a little lunchtime talk on Social Security and his plan to "fix" it. I hear, he also caused quite the traffic jam on I-55!