Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, August 06, 2007

Friday? Fuggidaboutit!

What bleak Friday? Markets took off today, erasing the losses from Friday. There was no single reason for the upswing, other than investors seemed to be saying markets were oversold. Buying was the order of the day, and indexes were pushed steadily higher throughout the day. American Home Mortgage declared bankruptcy... no surprise there. McDonald's is sprucing up its image in China, offering pay raises and better working conditions. Financial stocks were the winners on this stellar day! DJIA +286.87 NASDAQ +36.08 S&P 500 +34.61