Friday, June 8, 2007

Reversal

The markets showed some resiliency today, with the Dow advancing 157 following the 400 point drop over the past three days. A drop in oil prices helped stocks, as well as some level trading in the bond markets.

Consumer confidence came in low, mostly due to higher gas prices. Next week will be very interesting to see if we can advance higher, or if we'll see more selling. I think any comments coming out of the Fed pertaining to interest rates will have the greatest effect.

Have a great weekend!

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