dow2664
Mixed results posted for the stock market yesterday as apprehensions prevailed and traders wondered and worry. The Dow Jones Industrials fell .1% but the Nasdaq and the S&P 500 moved forward. The main news pushing stock action was corporate earnings and the report on first-time unemployment. The Labor Department reported earlier that fewer people applied for unemployment benefits last week. Applications for jobless benefits dropped from 21,000 to a seasonally adjusted 434,000 in the week ending October 23rd, 2010. It had been anticipated that applications for jobless benefits would rise and so this news was unexpected but welcomed. Stock futures for October 29th, 2010 are lower ahead of the opening bell for the U.S trading session. World markets are lower right now as well. European index values are falling off and those in France are off the most. The FTSE is in the red .42%. The DAX is lower .19% and the CAC 40 is off .59%. Asian index values are all red as well with the Nikkei 225 off the most by 1.75%. Feeding anxieties right now across the global markets is the increased worries relating to the federal stimulus intervention plan. The intensity and duration is unknown, but many are now expecting that it will be less than originally anticipated. Today, the third quarter gross domestic product reading (GDP) is due before the opening bell and the Chicago regional reading on manufacturing is due just after the bell. Expectation is that the Commerce Department will report growth for the period beginning July and ending September. Author: Frank Matto
No comments:
Post a Comment