Oil record

The three major indexes were all up more than 1% on Tuesday, with the Nasdaq making the best surge. Ericsson rose 5.5% after it reported a growing market share and McDonald's gained 3.2% after the fast-food giant said its same-store sales rose 8.1% in August. Crude-oil futures were up 74 cents to settle at a record $78.23, despite the fact that the Organization of Petroleum Exporting Countries(OPEC) agreed to boost its output by 500,000 barrels a day starting Nov. 1. The anticipation continues to build for the Fed's Sept. 18 meeting and I am quite anxious myself. DJIA +180.54 Nasdaq +38.36 S&P 500 +19.79

Indexes split

The Dow had a slight gain today, while the Nasdaq and S&P 500 had a slight loss. Countrywide Financial shares fell 5.3% after the mortgage lender said Friday that it may cut its work force by up to 12,000 jobs. Apple announced that they sold there one-millionth iPhone which gave there stock a small boost. Monday didnt show much movement in any sector as most investors wait to see what the Fed's decision will be on Sept. 18. DJIA +14.47 Nasdaq -6.59 S&P 500 -1.85

Employment decline

The stock market took a fall Friday mainly due to August data showing the first employment decline in four years. This is only heightening investors' fears that the credit crunch has developed into something more serious. Some are beginning to talk seriously about a recession but many think it is overreaction. "I think we'll look at today as an overreaction," said Art Hogan, of Jefferies & Co., who thinks we will see buying opportunities next week. Everyone is still waiting to see what the Fed will do and I am quite interested myself. I know one thing. . . I'm glad it is Friday. Have a great weekend! DJIA -249.97 Nasdaq -48.62 S&P 500 -25.00

Back to school profits

Back to school retailers got the markets off on the right foot this morning. Led by Wal-Mart, whose August same-store sales smashed expectations. Shares gained 1%. Target also reported better-than-expected sales growth, and its shares rose 2.1%. At one point today, crude-oil futures were about $77 a barrel, but closed as $76.30. Apple decided to cut the price of their iphone by $200, in hopes of increasing sales. I think I will give it a closer look now. DJIA +57.88 Nasdaq +8.37 S&P 500 +6.26

Life after Labor Day

The Nasdaq gained 1.30% Tuesday, as the 3 major indexes closed with a gain. The tech sector was led by Apple, which gained 4.1%, while energy companies also rallied as oil futures climbed. Exxon Mobil advanced 1.8%, Conoco Phillips gained 1.9%, and Chevron added 1.1%. All in all I would call it a slow and steady day. . . I'll take it. DJIA +91.12 Nasdaq +33.88 S&P 500 +15.43