Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, October 30, 2007

Decision time

All 3 indexes took a slight fall into the red Tuesday. The Federal Reserve will announce whether or not there will be a another rate cut tomorrow, which is weighing heavily on investor's minds. Chairman and Chief Executive Stan O'Neal resigned from Merrill Lynch and is being marked as the most dramatic fallout yet from the credit crunch. I have a feeling the $161 million in benefits, he received from various pension plans and stock grants, will help ease the pain. Crude-oil futures took a $3.15 drop but are still above the $90 a barrel mark. DJIA -77.79 Nasdaq -0.73 S&P 500 -9.96