Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, August 31, 2010

Tuesday

Stocks floated between positive and negative numbers today on Federal Reserve uncertainty over how to handle the faltering economic recovery. Today marked the close of the market's worst August since 2001. Early in the day things were looking good due to slightly better-than-expected housing, manufacturing and consumer-confidence data. These gains then declined after minutes of the August 10 Fed meeting showed that policy makers agreed that the new strategy of reinvesting maturing or refinanced mortgage-related securities was necessary given the weakening economic recovery. DJIA +4.99 Nasdaq -5.94 S&P 500 +.41.