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Stock index composites in the U.S. began the trading session higher today just after opening bell. Trend lines progressively dropped lower as the initial half of the trading session moved along. Mixed economic data that posted earlier today weighed on the minds of investors and ultimately resulted in lower composite values. As the half way point in today's trading session, the Dow Jones Industrial Average, Nasdaq and S&P 500 were all trending in negative territory for the day. The positive news stemming from the Labor Department was not enough to keep index trends green earlier today. According to the Labor Department, the number of Americans making first time unemployment claims lowered by almost 30,000 in the week ended May 14th. This data represents another week of lower numbers for this particular reading. It is viewed as a positive sign regarding job and economic growth. Home sales data slid again and this pushed negatively on trend lines overall today. According to the National Association of Realtors, existing home sales dropped .8 percent in April. Economists had been anticipating more positive news from this reading and so the negatively skewed data had an even greater negative affect on the stock market today. In addition to this, the Conference Board reported today that the Leading Indicators index dropped .3 percent in April. Signs that the economy is slowing are emerging and investors are backing away from the riskier bets. The dollar index was lower today and the dollar weakened versus a basket of other currencies during today's trading sessions. As the end of day close approached, the major market indicators were trending in the green. Stocks rallied during the latter half of the trading session today. The Dow Jones Industrial Average ended the session higher by .36 percent at 12605.32. The Nasdaq ended the session higher by .30 percent at 2823.31 and the S&P 500 ended the session higher by .22 percent at 1343.60. Stock trending was choppy today and worries persist but the major indices in the U.S. ultimately ended green. Author: Frank Matto
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