dow2664
Negocioenlinea
At mid day the major indexes were trending in the red as a multitude of factors weighed on the market. In the forefront is increased concern over skyrocketing commodity prices. Oil has reached a new two year high pushing above $113 a barrel. Precious metals are also rallying with gold topping over $1471 an ounce and silver setting a 30 year high that climbed over the $40 an ounce mark. As commodities continue to steal the headlines, investors are anxiously awaiting the final word on a potential government shut down. The clock is ticking as negotiations on a budget for the remainder of the fiscal year for 2011 are under way. If the White House and Congress can not reach an agreement by midnight the federal government could face a shut down. With an absence of any new reports on the economic calendar or corporate releases, investors are sitting on the sidelines with little action posting and the indexes clinging close to the neutral line. Approaching close the major market indexes are trending in the red with the Dow showing a loss of 29.44 points or 0.24% to 12380.05. The Nasdaq decreased by 15.73 points or 0.56% to 2780.41. The S&P 500 declined by 5.34 points or 0.40% to 1328.17. The U.S. Treasuries 10-year yield gained 0.02 to 3.57%. Oil soared, gaining 2.52 to $112.82 a barrel. Gold gained 14.80 to 1474.10 an ounce. Author: Pamela Frost
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