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dow2664 Today’s stock market action continues to roll along with the roller coaster ride that has been the stock market this week. The DJIA, Nasdaq and S&P 500 have touched significant lows this week only to rebound higher and then skid lower once again today. The market climate is volatile and trends are choppy. Investor confidence is wavering and most are having difficulty processing directionality with current market trends. The boost of confidence that was passed on yesterday after the Feds announced low interest rates through 2013 has dissipated and fear is what remains on Wall Street. Investors are still worried about the faltering economy and the recent U.S. downgrade that transpired last week is heightening concerns. The fear index is at a relative high and the major index composites are plummeting as a result. As the trading session approached the halfway point in the today, the major market index composites were all posting red. The Dow Jones dropped over 400 points. The stock market is well on its way towards another consecutive negative week overall. Today’s economic posts have been less than stellar as well. The government reported that wholesale inventories only rose .6 percent in June which was less than anticipated. European markets are currently lower but Asian markets finished higher. Currently, the DJIA is lower by 3.89 percent at 10,803 and the Nasdaq is lower by 3.23 percent at 2,402. The S&P 500 is red as well by 3.69 percent at 1,129. The dollar, oil and gold are all on positive tracks today. Frank Matto
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