U.S. stocks jumped the most in more than two years, rebounding from the worst drop since 2008, and 10-year Treasury yields touched a record low as the Federal Reserve vowed to keep interest rates near zero through mid-2013. The dollar weakened and the Swiss franc rose the most since at least 1971.
What does this mean for Louisville residents who are still recovering from losses due to last week’s stock market disaster? Dish on Market is offering a new program based on the S&P 500 index – a Prime Rib cooked to order, 11 different styles, at the price in pennies, of the S&P 500 index! As the S&P 500 index decreases so does the price!
In what Dish described as “The Standard & Poor’s steak” orders jumped 50% today – compared to the measly 4.8 percent of the S&P that rose to 1,132 at 3:45 p.m. 8/10/11 when I was writing this. This means that a steak, and 2 sides currently cost $11.32.
The 10-year Treasury yield fell as much as 28 basis points to 2.03. Dish’s reaction? Buy a Burger and Bourbon for $10. Anderson Grissom, proprietor of Dish on Market said “This is something that you can bank on! “ He explained that any Bourbon including Bourbon Old Rip Van Winkle 10 year vintage or Evan Williams Single Barrel Vintage 10 year vintage – even Blanton’s. Fries and Cheese of your choice are included….all for the 10 year Treasury price of $10.00!
Grissom said “We saw people’s savings and investments being erased overnight and wanted to give our customers something to rely on – quality food at prices that they can afford. The more that people lost on the stock market – the more we reduced our prices! We are expecting to gain this back as people make recover”
I asked Marshall Grissom, one of the owners of Dish whether anything else was linked to the stock prices he responded “mention S&P Buds and you can get a Bud light for $1.13 – or what ever the S&P is at the time. Pay the price before you order or when you finish……its up to you – just tell us before hand and play the market!”
I don’t want the stock market to crash again – but this certainly takes some of the sting out of it.