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dow2664 The primary stock indices dropped off significantly last session after news spread that the Feds were not pulling QE3 out of their pocket at this time. Many expected a more direct form of stimulus for the stagnating American economy, such as QE3, and investor optimism extinguished when this was not offered. The primary U.S. stock indices suffered as a result. They continued to show the negative affects of yesterday’s business this morning. Prior to opening bell this morning, Futures for the primary stock composites were all posting red. Stocks were positioned for the lower open this morning. Investors are seeing negative signs today on a global scale. World markets are experiencing noteworthy sell-offs today, due in part, to the statements issued by the Federal Reserve yesterday. The major indices in Asia all finished in negative territory and the primary indices in the European marketplace opened with attention grabbing losses. Today in the U.S., as the trading session reached the halfway point, the primary stock composites continued to move lower. The Dow Jones Industrial Average had reached the 400 point loss mark. Stocks are getting hammered. Adding to the already negative tone, the jobs report posted today and was much weaker than expected. According to the data issued by the Labor Department, the number of Americans filing for first time jobless benefits posted higher than expected at 423,000 last week. This news pushed negatively on stock indices as well. At mid-day, the Dow Jones Industrial Average was lower by over 425 points at 10,698. The Nasdaq was lower by over 82 points at 2,456 and the S&P 500 was lower by over 40 points at 1,126. Frank Matto
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