Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Wednesday, May 10, 2006

A Gloomy Day

The weather here has been very gloomy. I've had to make two pots of coffee to keep me from getting as drowsy as the weather! The Fed announced another rate increase today; its now up to 5%. After this announcement, trading spiralled downward, but then crawled back up at the end of the day. The Dow ended slightly up (.02%), but the Nasdaq finished the day down. Investors remain optimistic about the future, despite the Feds warnings that future "policy firming" may yet be in store. DJIA: +2.88 Nasdaq: -17.51 S&P 500: -2.29