A Positive Sign

Well, it wasn't a stellar day, but markets were up. The Dow's positive performance was a bit anemic, but NASDAQ and the S&P had a fair showing for the day. (Speaking of the fair, the MS State Fair started this week and brought with it cooler weather!) After a week of falling, these numbers were a welcome sight. Oil prices fell, helping the feeling on Wall Street. Fed officials are still warning about inflation, though, and this could be the bugaboo, but I think it's too soon to tell the effects. As expected, jobless claims rose, but most came from Katrina. Previous months jobs reports were revised upward, another positive sign for the economy. It was nice to end the week on a good note! Dow +5.21 NASDAQ +6.27 S&P 500 +4.41

Thursday Wall

The Dow fell as much as 100 points today before reversing some of its losses. It still finished down for the day, but maybe is starting to stabilize. NASDAQ lost almost 1% for the day, so it could not duplicate the Dow's bounce. Let's hope that comes tomorrow. Retailers are getting skittish as the Christmas season nears. Wal Mart posted good numbers, but they were helped by all us buying supplies for the hurricanes. This discounter had been feeling the pinch as everyone rotated to higher end goods. Does this signal a pull-in? December's numbers will be important. Dow -30.26 NASDAQ -18.94 S&P 500 -4.90

Ouch!

A second day of retreat as Wall Street weighs the effects of expected inflation. As prices rise, stocks fall. The Dow fell about 1.2%, while NASDAQ took the hardest hit, losing about 1.7%. Is this just the market taking a breather or will the effects be long-lived? Stay tuned. It's just way TOO much red for me right now. Of course, that could mean it's time for some bargain hunting. Dow -123.75 NASDAQ -36.34 S&P 500 -18.08

Inflationary Tuesday

A Fed official said the dreaded words out loud, "high inflation", and stocks ran for cover. Oil prices continue to climb as I watch the price at the pump cross the $3 mark. This, along with the expectations for home heating oil this winter, has some economists spooked. BP announced a shortfall in profits due to the hurricanes. The question mark in all this is the consumer. Will we slow down our spending in reaction to the rising prices? It was all red today. Dow -94.37 NASDAQ -16.07 S&P 500 -12.23

October Monday

It's the first week of October, and the air conditioning is still running in Mississippi. I'm hoping for a Fall day with a crisp breeze and falling leaves. I may have to wait until November. There were some signs that inflation was rearing its ugly head. Big caps pulled back a little bit, while tech stocks gained some ground. Auto sales are sluggish, but what can you expect with the price of oil? Those SUVs are looking like dinosaurs. Dow -33.22 NASDAQ +3.74 S&P 500 -2.11