Independent, Fee-Only Financial Advisor
Thursday, August 19, 2010
Well, between the gloomy weather & the market's performance, I'm glad today is almost over! Stocks sank as recessionary fears jumped back into the limelight on a weaker jobs picture. An unexpected surge in jobless claims startled investors, causing the Dow to snap its 2-day winning streak and putting most of the major indexes back in the red for the year. We saw today that Intel has placed a bid to buy McAfee at a 60% premium. While this is exciting news, unfortunately, it was outweighed today by the disappointing jobs report. DJIA -144.33 Nasdaq -36.75 S&P 500 -18.53.