Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, August 03, 2009

Monday's Results

Today was a really good day in our markets. We saw the highest levels since November on our indices. This can be contributed to several different things. The rally is due to strong bank profits and hopes for rising demand in raw materials. Also, it was helped by solid gains in all of its commodity-producing components. We were also being steered by strong earnings from United Kingdom banks HSBC and Barclays as well as better-than-expected readings on industrial activity in China, Britain, and the United States. Locally, we do not know the numbers yet, but the sales tax holiday seemed to really be a hit! I went out on Saturday, and it was nuts with all of the people out and about! It felt really good to see people going out and spending their money on local retailers. DJIA +114.95 S&P 500 +15.15 NASDAQ +30.11