Friday, October 14, 2005
Happy Days Are Here Again!
Markets turned up today, as CPI numbers came in. Yes, consumer prices rose, but not as much as expected. The increase was only 1.2%, even with gasoline weighing it down. This news gave Wall Street a much-needed boost and indicated that inflation may not be running as high as thought. GE also weighed in with good news, increasing their profits by about 15%, despite hurricane damage to some of their businesses. Check it out at SmartMoney.com. The combination of these good reports sent stocks up about 3/4% across the board. What a great ending to the week! Dow +70.75 NASDAQ +17.61 S&P 500 +9.73