Through the halfway point in today's trading session, stock index composites
were posting in the red. The Dow Jones Industrial Average, the Nasdaq, and the
S&P 500 were all trending in negative territory up to this point. Trends were
pulled lower despite more positive economic reports at home. China's economic
growth and inflation potentials related to this grow, are causing worries to
persist in the minds of many economic analysts. Here, the number of Americans
filing for first time unemployment insurance fell lower to 404,000 this week.
This number is positive in that it is 37,000 less than it was just one week ago
and better than what many economists had been anticipating. Sales of existing
homes moved higher as well and beat out original expectations. The National
Association of Realtors reported that existing home sales rose 12% in December.
This is positive news for a sector that has been struggling and in need of a
positive boost. Earnings reports came in today as well. Morgan Stanley reported
that price per share increased to 43 cents and total revenue rose 14%. Wendy's
and Arby's shares moved higher today too. The dollar gained strength today
against the euro, the Japanese yen and the British pound. End of day close for
the Dow Jones Industrial Average was red by .08% at 11,815.72. End of day close
for the Nasdaq was red by .77% at 2,704.29. End of day close for the S&P 500 was
red by .13% at 1,280.26 an ounce. Stocks gained on earlier losses today and
moved forward from lower trending at the mid-day point. Author: Frank Matto
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