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Stock futures were lower this morning ahead of the bell to start the U.S. trading session. The Dow Jones Industrials, Nasdaq and S&P 500 contniued there struggles as trendlines showed the response to mixed earnings and economic reports. Traders are beginning to worry that the support expected via federal intervention may not be implemented with the frequency , intensity and duration that was originally anticipated. Many expected the Federal Reserve’s plans to buy treasury bonds would fall in the range between $500 billion and $1 trillion dollars. The effect would have been lower interest rates and prompt to increase lending and spending. Now, the data appears to imply that federal intervention might be less than originally expected and spreas out over a longer period of time. The feds will meet during the first week of November to discuss the plan details of quantitative easing further. Also, the Commerce Department report indicated that the pace of growth in manufacturing is slowing. Home sales continue to remain at exceptionally low levels as well. The Dow Jones Industrial Average ended the day at 11,126.36 in the red .39%. The Nasdaq ended the day at 2,503.26 up .24% and the S&P 500 ended the day at 1,182.45 in the red .27%. The dollar gained .0049 on the euro and the ten-year treasury yield was 2.71%. Author: Frank Matto
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