dow2664
Stocks closed Friday with all three major indexes at fresh two year highs. The increased activity was primarily fueled by the Feds report to invest $600 billion in bond purchases as well as the results of the mid term elections. Although increases were reported across the board on Friday, the market is mixed approaching mid day on Monday. There are no major reports expected on the economic calendar today, and with little news anticipated, investors have turned their focus to the global market. On Thursday, President Obama and other world leaders will meet in South Korea for a two day G-20 summit. The group is expected to discuss currency tensions recently reported in the global economy. At mid day the market indices have all dropped into the red. Nasdaq is down 6.04 points to 2,572.94. DJIA is down 69.44 points to 11,374.64. S&P 500 is down 7.62 points to 1,218.23. The dollar is up 0.0067 to the Euro at $1.39. Oil is down 0.73 to $86.12 a barrel. Gold has surged reaching another record high at $1,400 an ounce. Strong sectors include education services; specialty consumer services. Weak sector include: diversified banks; insurance brokers; home improvement retailers; aluminum; food distributors; forest products; apparel retailers. Author: Pamela Frost
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