Stock market index values ended the week mixed as the Dow Jones fell into the
red and the Nasdaq and the S&P 500 moved into green territory. Big news
yesterday stems from President Obama signing the tax cut plan into law. This
came just one day after the House of Representatives gave their approval for the
over $850 billion tax deal. The Dow Jones Industrials ended yesterdays session
lower by .06% at 11,491.91. The Nasdaq ended the session higher by .21% at
2,642.97. The S&P 500 ended the session higher as well by .08% at 1,243.91. The
tax cut plan that President Obama signed into law will put more money into the
pockets of Americans. Normally, workers place the first 6.2% of their wages (the
first $106,800) into Social Security. Now, with the new tax deal, workers will
only place 4.2% of their wages in 2011. Once this is all established and
paychecks are adjusted according to the new tax deal, workers will begin seeing
more of the greenback from paycheck to paycheck in 2011. Stock market action was
little changed on Friday to end the week in the United States. The dollar gained
on the British pound, the euro and the Japanese yen. Gold futures saw some
positive gains. The ten year benchmark ended the session with the yield down to
3.33%. Author: Frank Matto
No comments:
Post a Comment