Dow, S&P Down -- But There's Good News
The Dow and S&P were down slightly this week, but there was a lot of good news:
-- oil doesn't rally despite Gustav, Russia
-- economic news more positive
-- financials stabilize
-- dollar maintains strength
The bad news is what could be called the tech problem.
Remember, in mid-July, traders sold energy & materials, bought tech.
But now Dell says they see "conservatism" in tech spending. Techs were already a tough call on dollar strength, and slower global growth.
Bulls insist this is a Dell specific problem, that there’s no problem with Hewlett-Packard , and that economic data has been strengthening.
MAJOR INDICES THIS MONTH
-- Dow up 1.5 percent
-- S&P 500 up 1.4 percent
-- Nasdaq up 1.9 percent
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