Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Thursday, August 17, 2006

Barely Three

Wall Street made it three straight up days. Of course, large caps barely eked out gains, but techs were the winners again, gaining almost .4%. This came despite the bad news from Dell. The recall, poor sales, and now a probe into their financials have hit this stock HARD. Other techs are making gains, and this may signal a good year-end for the group. Today, Bush signed a new law governing 401(k) plans. It will allow employers to automatically enroll employees and to automatically increase contributions with salary raises. Sound a little like big brother? Maybe, but with most people over 40 not even participating in retirement plans, this is a step in the right direction, especially with many employers doing away with the old pension plans. This move should also bolster stocks, as more money pours into Wall Street. Dow +7.84 NASDAQ +8.07 (+0.38%) S&P 500 +2.05