Positive trends in the stock market continued during the opening trading
session this week. All three primary stock composites closed out in the green
yesterday in the midst of the ongoing recovery efforts happening along the east
coast of America. The Dow Jones Industrial Average closed the day higher by over
254 points at 11,539.25. The Nasdaq closed out higher by over 82 points at
2,562.11 and the S&P 5oo finished positive as well by over 33 points to close at
1,210.08. The devastation from Irene was widespread along the East Coast, but
the power of the storm diminished as it traveled over land which likely reduced
its destructive potential. Investors on Wall Street appeared to rally behind the
silver lining and helped to push stock indices into positive territory through
the day. In addition to the silver lining, other reports skewed positive Monday.
The personal income report posted a rise for July by .03 percent and spending in
July notched higher by .8 percent. News also broke relevant to the Eurozone debt
problems that skewed positive. Moves are being made in the Eurozone marketplace
that are helping to alleviate debt concerns and this action is trickling in to
help stocks during the U.S. sessions. The positive momentum is helping some
funds show growth as well. USAA Aggressive growth fund ticked higher yesterday.
USAUX notched positive by 3.01 percent yesterday and closed at 31.85. The great
news is tempered by the fact that August overall has been a poor month for the
marketplace in the U.S. August could be one of the worst in recent time. Frank
Matto
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