Investors on Wall Street were hoping for positive trends to begin during the
month of September in the U.S. stock market. Although stock futures prior to
opening bell for the last session were red, investors felt a boost of confidence
after news of the better than expected initial unemployment claims and the ISM
report posted. The confidence did not last long enough however as other
negatively skewed data applied too much pressure for the primary indices to stay
positive. By late afternoon, all three primary index composites were moving in
negative territory. The Dow Jones Industrial Average was red by almost 120
points and officially closed negative at 11,493.587. The Nasdaq and S&P 500
closed out the U.S. session on the lower side of break-even as well. Pulling the
Dow Jones and other indices lower were results in the investment banking sector.
Citigroup was one company that experienced negative trends last session.
According to Google Stock Quotes, Citigroup finished the day lower by 3.38
percent at 30.00. Previous close for C was 31.05. Economic worries persist and
the performance of several large investment banks did little to dull the
negative feelings many hold. Frank Matto
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