The major market index composites notched higher this morning. Futures were
higher and the DJIA along with the Nasdaq and S&P 500 opened stronger this
morning. Jobs data posted today along with the new national unemployment rate.
Both economic posts were better than expected. It appeared that the weight of
the negativity that had built over the course of the week was being lifted and
that stocks would finish on a more positive note. Not so fast however. Global
stocks plummeted today and the carryover affect in the U.S. was debilitating.
The Eurozone debt crisis continues to plague the global economy and fears on
Wall Street took hold again. As the trading session reached the halfway point
today, the major index composites were posting red and volatility in the
marketplace was once again at the forefront. The DJI was lower by .43 percent at
11,334.64. The Nasdaq was red by 1.67 percent at 2,513.81 and the S&P 500 was
lower by .89 percent at 1,189.41. The global slowdown is not only affecting the
major indices in the U.S, but it is also weighing heavily on individual company
stock values and mutual fund values. USAA UVALX is feeling the pressure in the
market place and according to MSN Money stock quotes at mid-day, the fund is in
the red. UVALX is currently negative by 4.80 percent at 12.70. The market place
is in turmoil and there does not appear to be a catalyst for positive change in
the pipeline. Frank Matto
No comments:
Post a Comment