A Wild Wednesday

When the markets opened this morning, Wall Street was trying to digest the political news from the evening before. It was clear the Democrats had clinched the House, but the Senate remained in question. As of this writing, there is only one seat still up in the air. At the beginning of the day, stocks dropped. Was this a reaction to a Democratic run Congress? Or maybe it was simply the market's response to uncertainty. As the day wore on, and the uncertainty became more certain, markets relaxed. By close, the numbers were all positive. Add in a surprise announcement about Rumsfeld's departure, and you've got a strange brew. Surprisingly, Wall Street seemed to like the way the election went... at least in the short run. The question is "Will Wall Street like what the Democrats do with their newfound power?" Stay tuned! Dow +19.77 NASDAQ +9.06 S&P 500 +2.88

Voting Day

All bets are off with the mid-term elections. Conventional wisdom says that Wall Street likes Republicans, but this year is different. The mood seems to be one of change, and the signs of those changes are breathing life into the market's numbers. Despite the possibility of a Democratic controlled Congress, the indexes posted another strong day. Dow +51.22 NASDAQ +9.93 S&P 500 +3.06

What Rain?

It was raining cats and dogs in Mississippi today, but the sun was shining brightly on Wall Street. Mergers took a front seat, signaling good things for the economy. All indexes rose significantly, with the NASDAQ gaining more than 1 1/2% on the day. With days like this, who cares what the weather is like? Dow +119.35 NASDAQ +35.16 S&P 500 +15.48

Tepid Thursday

Markets were lukewarm today. Wal Mart is already cautioning about the Christmas retail season, but this may not be the trend for ALL retailers. Could it be that deep discounters are falling behind, as shoppers aim for the higher end experience? If you really want the best, check out http://biz.yahoo.com/special/luxury110206_article1.html. Surprise! Surprise! Mortgage rates FELL last week. As the real estate market slowed and inflation stayed in check, long-term rates fell into line. This slowdown may actually be good news, since we face the possibility of slow, steady growth. That could translate to a long-term expansion. For now, though, markets yawned. Dow -12.48 NASDAQ -0.33 S&P 500 -0.47

How many days till Christmas?

It's November 1st, and, while retailers are looking towards their biggest season, Wall Street is bracing for year-end tax sales. I'm spending my days looking at the damage I've done so far this year and hoping for ways to mitigate it on my tax bill. One fuzzy area is mutual funds. Most declare dividends and capital gains one time a year. Even funds with low turnover rates and value investment philosophies may face big payouts at the end of the year. Start looking on your funds' websites for information about these. You may decide to make changes in funds before those critical dates. Don't forget to wait until after the payouts before putting new money into mutuals. Mutual funds are great when it comes to convenience and instant diversity, but they can be h**l on your tax bill! Wall Street took a breather today. NASDAQ fell 1.37%. The drop came even with Time Warner's excellent earnings report. TWX has been down, but today, they proved they are not out! Dow -49.94 NASDAQ -32.32 S&P 500 -10.00