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US equities fell again on Friday. This time the DJIA gave up 146 points.
Tuesday was a glorious day for US equity investors. The DJIA soared 416 points following action by the Federal Reserve Board to pump 200 billion dollars into the banking sector to shore up losses and ease credit.
Friday was yet another down day for US equities, with the DJIA losing 147 points. The S&P financial sector was down 6% for the week, and Friday's jobs report showed a one-month decline in US employment at a level not seen since 2003.
Although stocks finished mixed on Tuesday after Monday's sharp decline, the DJIA ended down 45 points, with gold and oil service stocks pulling back sharply.
Thursday gave us a wild ride on Wall Street following Wednesday's 360-point decline in the DJIA.
Tuesday was a strong, positive day for US equities. Alternative energy (solar and wind) became the leading sector in the face of rising oil prices. Selected technology and biotechnology stocks also continue to do well.
It was encouraging to see the major US equity averages finish positive on Friday despite much volatility and rising oil prices. Our Viable Acquisitions Index for Monday has also risen to 171 from Friday's 149.
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