Diamonds and Dogs
July 2, 2009
Happy Birthday America!
Markets traded lower into the close of the week on very slow volume. The week before the 4th is traditionally one of the slowest of the year as market players head to their beach homes and mountain cabins. On the bank closure watch, two more banks failed today, which brings the year total to 47 failed FDIC institutions. With this news, combined with negative news out of California, unemployment unabated, and some earnings hiccups, stocks could not find their footing. For the year, the Dow and the S&P are still both negative, even coming off last quarter, which ended this week with the best quarterly performance in about 6 years. The second week of July will begin earnings season in earnest. Have a happy and safe holiday weekend.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.