Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, August 28, 2006

Ernesto's Save

Investors were worried last week that hurricane Ernesto would sail into the Gulf and hit oil refineries and drilling rigs. Thankfully, forecasters show Ernesto's path going up the East Coast - and missing energy facilities. This caused energy prices to drop dramatically, which helped stocks. Wal-Mart had good news today, which announced August same-store sales rose 2.7%. Transportation stocks were also up, all helping set the pace for the Dow's finish at 11352.01, up 67.96 points. Not bad, for a hurricane-scared Monday. (I think I'll keep my TV tuned to the weather station, just in case!) DJIA: +67.96 Nasdaq: +20.41 S&P 500: +6.69