Stock market tracking this morning prior to opening bell revealed that major
indexes in the United States were positioned in negative territory. Political
turmoil in Egypt was helping to put a damper on stock action. This, paired with
some of the negative earnings reports yesterday, pushed the Dow into the red as
of yesterdays close for the first time after multiple days of closing in the
green. As of the half way point of todays trading session in the United States,
market tracking reveals that the major index composites are pushing higher. The
Dow Jones Industrial, Nasdaq and S&P 500 are all trending in the green as we
approach the mid-day point of the last trading session for this week. Stocks are
edging higher as positive sentiment is boosting investor optimism. According to
the University of Michigans Consumer Sentiment report, consumer sentiment
strengthened in February. The reported data revealed that the index rose to a
preliminary reading of 75.1 which was up from Januarys reading of 74.2. The
report was positive in that it was higher than the prior sentiment posting a
month prior, but expectations were a bit higher as economists had been
anticipating the index to rise four tenths more. Regardless of this expectation,
it was still a positive posting and helped index values trend green as of
mid-day. Market tracking showed that the Dow Jones was higher by .28 percent at
12,263.65 at this point. The Nasdaq was higher by .31 percent at 2,789.92. The
S&P 500 was green by .39 percent at 1,327.04 as mid-day approached. Author:
Frank Matto
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