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The Nasdaq was down 2% for the week while the S&P500 was down 0.7% and the NYSE composite up 0.1%. Volume was low ahead of the Labor Day weekend.
The number of financial institutions declared at risk of failure by the FDIC rose in the second quarter to 117 up from 90 in the first quarter and 76 in the fourth quarter of 2007.
Dell’s second quarter earnings were flat due to PC price cuts which they said are spreading from Western Europe and Asia.
Second quarter GDP (Gross Domestic Product) was revised higher due to increased exports.
July new and existing home sales rose suggesting a possible bottom in the housing market.