Independent, Fee-Only Financial Advisor
Monday, November 26, 2007
Not Christmas Yet!
Holiday shopping started with a bang. The numbers from Black Friday were much better than expected. While everyone waited to see what the consumer would do, faced with the credit crunch, the consumer went shopping. Early numbers indicate an increase of 8.3%. These good numbers didn't resonate on Wall Street, though. Investors are still concerned about the financial mess and are warily watching the high price of oil. The result was a big drop at the end of the trading day. All indexes were off around 2% or more. The Fed is stepping in again to add liquidity. I'm still waiting for my Christmas gift! DJIA -238.09 NASDAQ -55.61 S&P 500 -33.53