A Short Week

It's Thanksgiving week, and it's a short one for investors. The Dow saw a slight pullback today, while NASDAQ took another solid step forward. A new WSJ poll of economists says the housing bust is over. Around here, the bust felt more like a small bump. With interest rates still low and business still rolling, it appears the rumor of a bursting bubble in housing was just that... a rumor. Dow -26.02 NASDAQ +6.86 S&P 500 -0.70

A Solemn Day

It's dreary and cold in Mississippi. After the storms blew through, the cold air followed. I think tonight will be a "fire" night. The famous economist, Milton Friedman, died today. His ideas and philosophies permeate our modern thinking. He was 94 years old. HP reported earnings today, and the story was good. Their profits increased 4 fold, no small feat. Of course, they were helped by a lack of restructuring costs on this report. All indexes reported positive numbers, with large caps winning the day. Dow +54.11 NASDAQ +6.31 S&P 500 +3.19

Wednesday

The day started in Mississippi with strong storms blowing through. By now, though, the sun has come out in full force, and it's beginning to feel like summer again. The markets started off with a bang, adding to the week's gains. Minutes from the Fed were released, and they revealed a reluctance to lower interest rates. Yes, I said LOWER. For months, the talk has been that rates would be lowered to spur further economic development. The problem is, though, that the Fed has more concerns about inflation. Inflation would cause them to raise rates. The combination means there will be no Fed action... for now. Stocks still managed nice gains. Dow +33.70 NASDAQ +12.09 S&P 500 +3.35

Good Start

It was a good start to the week, with positive comments from one of the Fed guys. No, it wasn't Mr. Bernanke, but the result was similar. Markets responded positively, and all indexes added to the year's gains. The NASDAQ is, once again, leading the pack. Techs may finally experience a Merry Christmas. Dow +23.45 NASDAQ +16.66 S&P 500 +3.52

Thursday Hangover

The reality of the elections may be seeping into markets, as all indexes took a breather. The numbers were negative all around. Disney reported stellar earnings, showing you can never give up on a strong franchise. Disney went back to its roots, and it's paying off. The shakedown in D.C. may also be weighing on stocks. The question is, "Who will be next?" Dow -73.24 NASDAQ -8.93 S&P 500 -7.39