The primary indices have fallen into negative territory this day. The Dow
Jones, along with the Nasdaq and S&P 500, will closed on the negative side of
break-even today. This week has been positive for the stock indices in the U.S.,
but three days of advances were met with a negative swing of the market pendulum
during this session. Economic news that posted today skewed negative. According
to data from the labor Department, initial unemployment claims rose higher than
most were expecting. The Department relayed that 417,000 Americans claimed that
they were jobless. Estimates prior to this post predicted that claims would fall
closer to 400,000 and so news of this report applied negative pressure to stock
action in the U.S. This news steered thoughts towards recession and thus
negative trends in the marketplace resulted. Many are feeling mixed about the
data as some feel that the more negative the economic news right now, the more
likely the Feds will be to provide stimulus to the fledgling economy. Bernanke
will speak tomorrow in Jackson Hole and the majority eagerly anticipate his
comments on the state of the economy. The dollar gained strength today and oil
price per barrel rose, as did gold price per ounce. Approaching close, the DJIA
was red by 1.61 percent at 11,138. The Nasdaq was red by 1.95 percent at 2,420
and the S&P 500 was red by 1.56 percent at 1,159. Frank Matto
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