At Last... Friday

Rita is fast approaching and, thankfully, weakening some as it moves toward land. The Sun Herald has some of the best radar images, showing how the feeder bands are giving more grief to the Mississippi Gulf Coast. We'll still have to wait and see how this affects oil production and refineries, but any relief from Rita's wrath is welcome. The market spent most of the day holding its breath. As we finished on Friday, NASDAQ actually picked up about 1/4%. The Dow was down slightly, and the broader S&P was up slightly. Entergy New Orleans filed for bankruptcy, but it appears this move will only allow its holding company, Entergy, Inc. (ENT), to step in with the checkbook. Dow -2.46 NASDAQ +6.06 S&P 500 +0.67