Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, June 01, 2010

Tuesday

Well, the market's performance today wasn't the best way to start off June, but hopefully in the upcoming weeks we can get back on track and make up some of what we have lost. The energy sector led a slide in the broader stock market following BP's failure to stop the flow of oil spilling into the Gulf of Mexico. Shares of BP fell 15% - their worst one-day percentage drop since October of 1974. On a more positive note, reports released today showed U.S. construction spending in April registered its biggest gain in nearly 10 years, rising 2.7%. Also, manufacturing activity has expanded more than expected. In other markets, the dollar strengthened against the euro. DJIA -112.61 Nasdaq -34.71 S&P 500 -18.70.