The markets end in negative territory for the week, but on the last market day of August, the Dow, S&P and NASDAQ all manage an almost 2% gain for the month. Tech weighed among the sectors, while Financials rallied.
-Google was the biggest drag on the NASDAQ 100 by impact for the second week running, down more than 5% for the week, and 2% for the month
-Level 3 had the most positive impact on the NASDAQ 100 up almost 11% for the week, and almost 1% for the month
-AT&T had the most positive impact on the S&P 500, up almost 3% for the week, and almost 4% for the month
-General Electric had the most negative impact on the S&P 500, down almost 4% for the week and almost 1% for the month
-AIG which has had the most negative impact on the Dow & the S&P 500, the past few weeks, had the most positive impact on the Dow this week, up over 8% for the week, but still down almost 18% for the month
-IBM had the most negative impact on the Dow, down over 2% for the week, and off almost 5% for the month
The S&P 500 sectors turned in a predominantly negative performance this week led by Technology down 3% for the week, while Financials rebounded up over 3% for the week.
-Tech was dragged down by Dell down 14% for the week
-Financials were buoyed by a rebound in Freddie Mac up over 60% for the week.
Energy shrugs off Gustav on expectations that the US government will tap the Strategic Petroleum Reserve if Gustav hits the Gulf of Mexico, and as the strong dollar pressures oil.
-Oil gains only about a percent for the week to settle at $115.46 per barrel. In August, oil has fell more than 5%.
-Gold is down almost 9% for the month to settle at $829.30
The US Dollar continues to rally and is on track for its best one-month performance since January 1997.
-The pound sterling is at a 2-year low versus the US dollar hitting an intraday low of $1.8175 on Friday, down over 8% for the month.