This past week was a tumultuous week for stocks in the United States. The
threat of government shut down applied negative pressure to stocks starting on
Monday and intensifying through weeks end. On Monday, the market was poised for
positive trending expecting to ride the momentum created by a better than
expected jobs report the week prior. With little news for investors to act on
and no major releases due out on the economic calendar to begin the week, the
wave of momentum from last week resulted in a mixed close for the day. The Dow
and S&P gained, but the Nasdaq fell short. On Tuesday, the Federal Reserve
released its minutes from the March 15th policy meeting. The minutes confirmed
that in June, as planned, the Fed will wind down its asset buying program and
raised speculation that interest rates may be raised in the future amid rising
inflation. At close the major market indexes were mixed once again. The Dow and
S&P 500 were in the red. Wednesday, investors continued to position with the
safe haven asset as most pondered the potential government shutdown in the
United States. By this mid-week close however, the Dow. Nasdaq and S&P 500 were
all green. On Thursday, stock index composites floundered downward after an
aftershock quake rocked Japan and the surrounding region. Also, the Department
of Labor reported that fewer Americans had applied for first time unemployment
benefits the week prior. Oil continued to rise today and topped $110 per barrel.
The Dow ended lower by .14 percent and finished the day at 12,409.49. The Nasdaq
ended the session lower by .13 percent and finished at 2,796.14. The S&P 500
ended the session lower by .15 percent and finished the day at 1,333.51. On the
final day of open trading in the U.S., the major stock index composites finished
in the red. The Dow Jones ended the day lower by .24 percent to finished red at
12,380.05. The Nasdaq ended the session lower by .56 percent to post an ended
day mark in the red at 2,780.42. The S&P 500 finished lower by .40 percent in
the red at 1,328.17. The threat of the government shutdown loomed all day and
applied negative pressure to the last open trading session of the week. After
session close for the day, news spread the Congress and the President had worked
out a deal to temporarily avert the government shutdown. Author: Frank Matto
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