Stock Markets Update

Posted On: 2006-10-13
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It's Brian Preston, the Money Guy, restoring order to your financial chaos. Retirement, investing, taxes. You've got financial questions, he's got financial answers. It's Brian Preston, the Money Guy.

It is October 13, 2006. You know what that means. It is Friday the 13th. So I didn't know if I was supposed to go download some spooky music, maybe bring a black cat into the podcast booth here, but we're just going to play this as we normally do, the only things we're going to expand this marketing media update though just to go over a few additional things that are going on with the current events of the world right now. I will tell you before I jump right into the market media update, I want to tell you once again how you can contact the show if you do want to either send us an email, you can send me an email at brian@money-guy.com. You can call our 1-800 number and leave us a question or comment on our 1-800, toll-free voice mail system. It's 1-800-762-8502. I pick up the tab on that, so feel free to leave a message and let us what you think of the site. Plus, you can go and check out our website, it's at money-guy.com. And we always unabashedly solicit, please give us good comments out there on iTunes, I think that's tremendously, is a tremendous asset to us and continues to make us one of the more popular money and business podcasts out there in the world of ever-growing world of podcasts out there.

Now jumping right into the market data, the markets have been on fire recently, and it kind of scares me. Remember I'm one of those people who's kind of a contrary on everything, and when I start to see people get excited, I start wondering, well, do we need to be worried about that we're going to top the market at this point? So I went out there and did a little research, and I'm going to get into an article that I found from the Motley Fool soon. But I first want to talk to you about the numbers. First, in the last two weeks, the last 10 days of trading, I went and pulled some numbers. The Dow Jones, of course we've blown through that record that was from back in 2000. We've now, sitting the market as of about 10:40 this morning, the market was sitting around 11,877 points. And it's been up a total of 1.7% in the last 10 days. That's tremendous. If you think about the NASDAQ, and listen to this number, I just told you 1.7% The NASDAQ is at 2,347 and it is up 4.1% in just in the last 10 days. The S&P 500 is up to 1361, it's up 2% in the last 10 days, and then the Russell 2000, the little small companies out there, that stock index is up to 752, close to 753, and it's up 4.4%. So you can see the market has truly been rallying here and as I told you, I get a little nervous. Now you know the other thing we always give you an update on is what's going on with the oil, because so much of that impacts what you have going on at the gas pumps as well as it gives you kind of an inclination of what's going on with natural resources, commodities, as well as maybe an indicator on some of the inflation concerns with the federal reserve.

Oil on Friday, September 29 was trading at $62.91 a barrel. That's close to $63 a barrel. And as of the close of yesterday, it was trading around $57.86...

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