After several choppy days in the initial half of the week, extreme volatility
returned to the stock market yesterday. Stocks plummeted during yesterdays open
market trading and the Dow ultimately fell by over 400 points. Cues from the
global marketplace were poor as the Asian markets finished red, followed by the
significant losses that posted with Euro stocks. These factors added to the
negative pressure felt in the U.S. marketplace and helped to push index trends
lower. In addition, the report posted via Morgan Stanley was noteworthy as it
stated that the U.S. and Europe were treading dangerous economic waters and the
economies were close to being identified as recessive. In general, it was a bad
day for investors on Wall Street and for global economic outlook. The weekly
jobless claims pushed higher by 9,000 in the U.S. This data posted much worse
than what most economists had been anticipating. The Philadelphia Federal
Reserves regional manufacturing index was weak too. Indices suffered, stocks
suffered and funds suffered yesterday. According to google finance, USAA
Aggressive Growth Mutual Fund USAUX finished in the red. The Fund fell lower by
5.81 percent on the day and closed down to 29.52. Previous close for the fund
was 31.34. Frank Matto
No comments:
Post a Comment