dow2664
Stock index composites fell lower yesterday as earnings report data was less than anticipated and negative trends in the oil and commodity sector pulled back composite value close results. The Dow Jones Industrial Average fell back over 130 points during yesterday's session. Stock index composites had some work to do to recover this day from the lower trending observed during the last open trading session in the U.S. Stock index futures were falling off prior to opening bell this morning however and pointed to the lower open today. At the halfway point in today's trading session, the major stock market index composites were mixed with the Dow Jones Industrial Average and S&P 500 posting numbers in the red. The Dow Jones was off by over 20 points at this point in the session. Major news applying negative pressure today was the commodity sell-off. Labor department statistics revealed the initial jobless claims dropped lower by 44,000 to 434,000 for the week ending May 7th. The dollar gained strength today and additional negative pressure afflicted gold and silver. The Commerce Department reported that business inventories were up but April retail sales were lighter than expected. As the trading session approached close, the major market index composites had rallied higher. The S&P 500 was green by 6.47 points at 1349 at this point. The Nasdaq was higher by almost 17 points at 2862 at this point. The Dow Jones Industrial Average was green by over 67 points at 12,697.20 as close approached. Stock Market trends during the latter half of today’s trading session followed commodities higher. Author: Frank Matto
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