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November 21, 2008 Spend, Spend, Spend!It’s been another gut-wrenching week, as seemingly unrelenting declines culminated in the S&P 500 closing at its lowest level since 1997 on Thursday. And things looked bleak earlier today until a spectacular rally took hold in the latter half of the afternoon. The Dow Jones Industrial Average and S&P 500 both gained more than 6 percent on the day, while the Nasdaq was up more than 5 percent; a nice pullback from what appeared to be sure losses. Despite sharp moves upward, there was no making up the losses from earlier in the week: the Nasdaq was off 8.7 percent from a week ago; the S&P 500 tumbled 8.4 percent; and the Dow Jones Industrial Average lost 5.3 percent. Inflation concerns are beginning to ease, mainly because plunging food and energy costs are pushing down various inflation gauges. The producer price index (PPI), a measure of the prices manufacturers and wholesalers pay for materials, plunged 2.8 percent in October on a month-over-month basis--the largest decline since tracking began in 1947. Excluding food and energy, the PPI crept up another 0.4 percent, showing that falling raw material costs have yet to feed through to other products. The consumer price index (CPI) also declined, falling a greater-than-expected 1 percent for much the same reason. That again sets another record, marking the largest drop since tracking began in 1947. The so-called core CPI, the Fed’s preferred inflation gauge which excludes food and energy costs, declined an unexpected 0.1 percent, its first decline since 1982. Both inflation measures remain elevated on a year-over-year basis. The PPI rose 5.2 percent and the CPI was 3.7 percent; excluding food and energy the increases were 4.4 percent and 2.2 percent, respectively. Think you need to take costly drugs to lower your blood pressure ? Think again ! ! If you've got high blood pressure, your doctor's probably told you to take drugs to control it for the rest of your life. But not only are these medications often loaded with dangerous side effects, your average out-of-pocket cost can run as high as $1,116 a year! Now there's a safer, less costly way to drop your blood pressure to normal. Plus you're guaranteed to see results in as little as 4 to 7 weeks ! This new blood pressure breakthrough is 100% natural, yet it's NOT a supplement. It's so effective, over 90% of people who use it are able to drop their blood pressure to normal. What's more, at least 60% of those using medication to control hypertension are able to cut back on or get off drugs for good ! Find out why The Harvard Heart Letter in their December 2006 issue reports this proven therapy "has been shown to lower blood pressure as much as a first-line anti-hypertension drug" and "may be money well-spent..." It works so well, a growing number of doctors and cardiologists now recommend this therapy to patients and use it to lower their own blood pressure ! Get the full scoop on this breakthrough solution right now. It's just one click away... Click here to continue reading |
| Friday Market Wrapup is a weekly e-zine written by Ben Shepherd and published by KCI Communications, Inc. Mr. Shepherd is research editor for Personal Finance.
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Friday Market Wrapup - November 21, 2008: Spend, Spend, Spend!
