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