Stocks rally on Monday with the Dow closing at a two year high. Reports credit
the jump to growth in the manufacturing and construction sectors that boosted
investor confidence. The market continued to rise early Tuesday morning as the
Commerce Department reported November factory orders rose 0.7%. This number far
exceeded the predicted decline of 0.3% by analysts. After several hours the
market has pulled back as investors cautiously await the release of the Federal
Reserves minutes from their latest meeting due out at 2 p.m. Investors are
anxious for the Fed to reveal their perspective in the ongoing economic recovery
and question the confidence the Fed has with the current economic plans. With
mixed sentiment, many investors continue to debate the long term affects of the
stimulus plan and report concern over the recovery of the economy as well as
concerns over a sluggish job market. Investors also eagerly await the
governments job report due out on Friday. At mid day the major market indexes
are all in the red. The DJIA is down 9.08 points or 0.08% to 11661.67. The S&P
500 is down 6.23 points or 0.49% to 1265.67. Nasdaq is down 22.35 points or
0.93% to 2669.24. The Treasuries 10 year yield is down 0.03 to 3.31%. Oil is
down 2.28 to $89.27 a barrel. The dollar is up 0.0021 to the Euro at $1.33.
Author: Pamela Frost
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