Stocks held off a late day decline to finish the last trading session in
positive territory. The Dow Jones, as well as the Nasdaq and S&P 500 all closed
out in the green yesterday. Prior to opening bell this morning, stock future
tracking revealed that stocks would open higher and that the month of August
could end on a stronger note. August has been a volatile month for the stock
market. It began with the S&P downgrade and stock indices hit their respective
lows for the month shortly after the downgrade. Then, the Morgan Stanley report
was weaker than expected. Again, this report led to another drop lower for the
primary stock index composites. Now, we are ending the month with an up-swing of
the stock tracking pendulum. As the trading session approached the halfway
point, the major composites were still trending green. The Dow Jones was higher
by .56 percent at 11,624.81. The Nasdaq was higher by .31percent at 2,584 and
the S& 500 was green by .61 percent at 1,220. Stocks today are taking advantage
of the better than expected economic data that is posting this day. The Commerce
Department reported that June factory orders bumped higher and the Chicago
purchasing managers index posted better than expected today. Frank Matto
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