Stocks closed up sharply following the latest interest-rate cuts by the Federal Reserve, ending the month of October on a strong note. For the month of October, the Dow Jones Industrial Average rose 0.25%. The Nasdaq rose 5.83% for the month, and the S&P 500 rose 1.48%. Note that the Volatility Index VIX remained high amid continued uncertainty over the effects of the credit crunch.
STI is near the all time high. HSI broke through the roof with the liquidity from China. MYOB remains slightly cautious at this point, possibly selling into strength.
Thursday, November 01, 2007
Business Update
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