Closing Bell: 08.20.07

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Brought to you by the fresh-smelling individuals at the Financial Times.
The market was busy sending mixed morning-after signals today, as major indexes drifted in and out of positive and negative territory based on water-cooler recollections of Friday’s frenzy. The Dow and Nasdaq finished slightly higher at 0.3% and 0.1% respectively, and the S&P finished virtually flat, down less than 0.1%.
Countrywide continued to tumble, down over 7.5%, amid layoffs and credit woes. SunTrust took the midcap financial institution tumble-torch, down almost three quarters of a percent on news of layoffs and a cost-savings plan.
Investors breathed a sign of relief as Hurrican Dean was schedule to kill only people and not oil rigs. New York light sweet crude futures fell over 1% to $71 a barrel.
European markets finished up slightly for the most part and Asian markets significantly rallied from Friday’s losses. South Korea’s major index (KOSPI) had its highest gain in over five years and Australia’s major index (S&P/ASX 200 Index) has its biggest gain in almost a decade.
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