Stock Market Update -Aug 31st

More see-saw action in the market this week, closing at a net loss for the week. Better than expected second quarter GDP boosted the market mid-week. Dell reported earnings after the close on Thursday and saw its price fall about $4 from the previous day's high, helping to bring the market back down. Also concerns about tropical storm Gustav (now a hurricane) heading to the Gulf, helped fuel a sell-off on Friday. Another bank shutdown was announced on Friday.



Next week the market is closed on Monday. Hurricane Gustav could impact the market as we see a reaction in Oil and Natural Gas prices. Another potentially market moving event is the Jobs report due on Friday.

Market watchers point to September as a traditionally weak month, so we could see some more selling in the coming weeks. Also be careful with Gold equities -many have jumped on the recent rally, but note that there is really no volume behind the rally!

How bad is September for the stock market
Payrolls expected to fall in August
Agency’s Head Expects Banking’s Crisis to Worsen
FDIC Says At-Risk Banks at 5-Year High
Home prices drop by a record amount
Survey: South Florida home prices fell 28%

Oil companies shutting down Gulf operations
Gustav eases to Cat 3, is expected to strengthen
Gold ends lower, posts biggest monthly loss in 25 years
Tap in to gold's yearly cycle
We'll be Worse Off Whoever's President: Jim Rogers
(UK) Economy at 60-year low, says Darling. And it will get worse
Lehman Brothers is still standing, but its foundations look shakier every day
Equities: Nightmare on Wall Street?

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