JP Morgan Chase purchased the deposits, assets, and some of the liabilities of Washington Mutual, the nation’s largest savings and loan, for $1.9 billion after the Office of Thrift Supervision seized the troubled thrift late yesterday.
Final University of Michigan consumer sentiment slipped from the initial report of 70.8 to 70.3 in September, below the estimate of 73.1. Employment concerns and the action taking place in the financial arena were likely to blame for the dip in sentiment.
The Dow Jones Industrial Average gained 118 points (1.1%) to close at 11,140, the S&P 500 Index gained 4 points (0.3%) to 1,213, while the Nasdaq Composite declined 3 points (0.1%) to 2,183. Crude oil dropped $1.13 to $106.89 per barrel, and gold ended up $2.90 at $884.90 per ounce. For the week, the DJIA dropped 2.2%, the S&P 500 Index was down 3.3%, and the Nasdaq Composite fell 4.0%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
Daily Update Of Open Positions...Stocks & ETFs
