Only Time Will Tell....

Chart of the Week for July 9-July 15, 2004

Domestic equity markets were slightly volatile throughout the quarter, but as you can see from the chart they still experienced slight positive returns. The Dow Jones Industrial Average (DJIA) gained less than 1% for the quarter while the S&P 500 gained 1.3% and Nasdaq approached 3%. Analysts believe that much of the turmoil in the markets over the quarter had to do with the ongoing concern about inflation and potentially rising interest rates, as well as the handoff of power in Iraq. Both of these events took place at the end of the month leaving performance speculation wide open for the coming quarter. Will the upcoming Presidential election be the next big hurdle?

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