The stock sell-off increased yesterday, leaving the major market indices
enveloped in a hue of red at close. The Dow Jones lost 242.12 points to finished
the day at 11,613.30. The session was choppy but trend line averages show
negative movement throughout the whole of the session. All three major indices
hit their lowest levels of the year. Stocks are falling as investors struggle
world-wide to process and deal with the ramifications of the Japanese crisis.
Today, will be a busy day for economic reports. The government's weekly report
on initial jobless claims is scheduled this day. It rose last week but is
expected to have dropped from the previous week's numbers. In addition to this
report, the U.S. consumer price index will also post and this report will
provide data on inflation. The price index is expected to have risen. Adding to
the flurry of information this day will be the Philadelphia Fed Index for
February which is a regional reading on manufacturing. Friday reporting will be
minimal and the momentum created earlier in the week will help to support
trending on the last trading session of this week. World news developments will
help to push stock market trending this day as there are no major economic
reports scheduled to post. Currently, stock futures indicate that the major
index composites are positioned to open higher for the first time this week.
Stock futures are gaining and are currently posting in the green. The Dow Jones
is currently higher by .47 percent and trending up. The Nasdaq is green by .42
percent and the S&P 500 is green by .77 percent and moving in a positive
direction. Author: Frank Matto
No comments:
Post a Comment