Cool Temps, Cool Trading

I woke up to wonderful temperatures this morning. Its only a temporary cold front, but this smallest relief from the sweltering heat has reminded me that autumn WILL come. But first - Labor Day Holidays! Everyone is taking that one last trip to the beach, and investors are apparently no exception. It wasn't Bernanke's speech that slowed trading down today, nor was it all due to the payroll report being released tomorrow. Analysts say its because everyone is on vacation, sitting on the beach. Sounds like a good idea to me! My pal Warren Buffet tied the knot yesterday at the ripe age of 76. And researchers made a signifcant and exciting breakthrough in treating and even healing cancer. Finally, Lockheed Martin was chosen by NASA to rebuild the Orion capsule, in an effort to revive US space exploration. DJIA: -1.76 Nasdaq: -1.98 S&P 500: -0.45

Oil Relief

Ernesto is making its way through Florida. While that is bad news for Floridians, it's good news for the rest of us. It means the oil rigs of the Gulf of Mexico are safe... for now. Added to this, inventory for oil is up. Does that mean demand is down? Or is the supply more than normal? Hmmm. Whatever the cause, oil prices have dipped below $70 per barrel, and pundits are saying we may go back to $2 a gallon gasoline. Say it ain't so! Wall Street responded, on the large-cap side, with a yawn, while techs added more than 1/2% on the day. It's left me scratching my head. What a strange day. Dow +12.97 NASDAQ +13.43 (up 0.62%) S&P 500 -.01

Anniversary

The Dow was up today, despite low consumer confidence and suspicions that, despite the Fed's minutes from their last meeting, rates just might go up again this year. Investors don't seem too worried, as oil prices dropped (down to below $70/barrel) and small businesses popped up in trading today. But the real focus of everyone today was on the Coast. Today marks the one-year anniversary of Katrina hitting our Gulf Coast, and services were held all day. For some tear-jerking broadcasts this evening, you have your choice of programs (abc, nbc, cnn - just to name a few) as our country focuses on both the tragedies and heroes of the worst natural disaster in America's history. DJIA: +17.93 Nasdaq: +11.6 S&P 500: +2.5

Ernesto's Save

Investors were worried last week that hurricane Ernesto would sail into the Gulf and hit oil refineries and drilling rigs. Thankfully, forecasters show Ernesto's path going up the East Coast - and missing energy facilities. This caused energy prices to drop dramatically, which helped stocks. Wal-Mart had good news today, which announced August same-store sales rose 2.7%. Transportation stocks were also up, all helping set the pace for the Dow's finish at 11352.01, up 67.96 points. Not bad, for a hurricane-scared Monday. (I think I'll keep my TV tuned to the weather station, just in case!) DJIA: +67.96 Nasdaq: +20.41 S&P 500: +6.69

Forming Clouds

All eyes are on Tropical Depression 5. The storm looks like it will head into the Gulf. News sent oil prices higher and large-cap stocks lower. It's been eerily quiet this hurricane season, but growing up on the Mississippi Gulf Coast has taught me that this could change on a dime. While oil prices climbed and auto makers languished, one car company took a bold move. Toyota may delay some model roll outs due to quality issues--Wow, what a concept! I think Detroit should take note. Retirees facing rising prices and dwindling assets are considering stints as truckdrivers. It gives new meaning to traveling in your retirement! NASDAQ was the only winner on the day. Dow -20.41 NASDAQ +3.18 S&P 500 -0.97