As the trading session approached close, the primary indices were back in the
green again. The Dow Jones, Nasdaq and S&P 500 were moving in positive territory
at this point. It was somewhat choppy today as trends went lower, then climbed
higher only to trail off lower again as the day approached close. U.S. stocks
finished stronger yesterday after economic reports were better than expected.
Today, the Case-Shiller 20-city home price index posted a rise of 3.6 percent
during the second quarter. This was a bit of positive news for the housing
sector. Overall though, home prices are still negative over the course of the
year. Additional bad news stemmed from the Conference Boards report today.
Consumer confidence dropped in August as the index fell back to 44.5 which was
down from the 59.2 reading that posted for July. This was the lowest level for
consumer confidence since April of 2009. Investors flinched at this report and
stocks struggled to close the day higher. Just prior to official close for
todays trading session in the U.S., the DJIA was still positive at .65 percent
at 11,614.74. The Nasdaq was still green by 1.07 percent at 2,589.31. The S&P
500 was green by .83 percent at 1,220.04. The dollar gained strength this day
and gold was moving higher again. Frank Matto
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