Stocks indices in the U.S. are moving in the green which was a pleasant
surprise for many investors on Wall Street today. Stock action has been choppy
and volatile over the last several weeks so the positive trends are a welcomed
sight. The credit downgrade that the U.S. received initiated the roller coaster
action observed recently in the marketplace, but tension stemming from the
Eurozone marketplace as well as weaker than expected economic posts have been
applying negative pressure as well. Then last week, the Morgan Stanley report
indicated that the economies in the United States and Europe were close to
recession. Stock indices dropped lower and ended the week in negative territory.
Momentum was strongly negative, but futures still set up in positive territory
this morning. Cues from overseas today were mixed. Asian markets closed mixed
and European stocks were moving towards a stronger end to the European trading
session. The primary indices pushed further into the green today as mid-day
approached. The dollar had fallen to the euro and British pound. Gold futures
were on the rise and oil price per barrel was moving higher. Just prior to the
mid-day mark in todays trading session, the DJIA was higher by 1.23 percent at
10,950.55. The Nasdaq was higher by 1.15 percent at 2,369 and the S&P 500 was
higher by .95 percent at 1,133. Frank Matto
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