Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Friday, June 29, 2007

Last day of the quarter

Stock prices were growing nicely this morning but ran into a wall around noon. Each index finished slightly in the red due to an afternoon drop. Crude oil futures rose 84 cents, pushing the price above $70 a barrel. The iphone made its debut today and I am interested to find out if it's worth the hefty price tag. Let me know what you think if you happen to run across one. DJIA -13.66 Nasdaq -5.14 S&P 500 -2.36

Thursday, June 28, 2007

Stocks barely moved at all today, finishing within a few points of where they started. Tomorrow is the last day of the quarter, so markets could see some extra volume or exaggerated movements. My guess would be that trading will slow down the following week, with the Fourth of July holiday and many traders likely to be out at least part of the time. We will see. . . DJIA -5.45 Nasdaq 3.02 S&P 500 -0.63

Wednesday, June 27, 2007

Late surge

Stocks came on strong in late trading to finish in the positve. "Today's strength has been in technology – tech led the turnaround," said Marc Pado, U.S. market strategist at Cantor Fitzgerald. People are already standing in line to purchase Apple's new iphone, which makes its much awaited debut on June 29. Is it really worth it? DJIA +90.07 Nasdaq +31.19 S&P 500 +13.45

Tuesday, June 26, 2007

Deja vu

Stocks made another big upward effort Tuesday morning, but once again began to fall midafternoon and ended in the negative. Crude-oil futures were down $1.41 to $67.77 a barrel. Blackstone Group shares fell 5.2% to $30.75, below their $31 offering price, which is not a surprise to many analysts. Tuesday was almost a mirror image of Monday except for the much needed afternoon shower we received. DJIA -14.39 Nasdaq -2.92 S&P 500 -4.85

Monday, June 25, 2007

Not your average Monday

The market finished the day right around the point it started but don't let the calm numbers fool you. The early triple-digit gain on the Dow was nice while it lasted, but looming subprime-mortgage clouds overtook stocks Monday afternoon and the three major indexes finished in the red. On a positive note, oil prices are back around $69 a barrel. Wow, I feel like I just got off a roller coaster. DJIA -8.21 Nasdaq -11.88 S&P 500 -4.82