Investors on Wall Street are preparing for another weeks open and are hoping to
recover from the negative close last session. All three primary indices in the
U.S. closed out negative last Friday across the board. The Dow Jones was lower
by over 300 points on Friday. For the week overall, the DJIA, Nasdaq and S&P 500
ended on the negative side of breakeven. The Dow Jones dropped 2 percent. The
Nasdaq fell lower by .5 percent and the S&P 500 dropped by 1.7 percent. The
negative weeks are adding up in the marketplace and expectations are becoming
more pessimistic. This week should be another one filled with challenges.
Investors continue to deal with and process the negatively skewed economic data
in the U.S. In addition, investors will continue to deal with the negative
ramifications stemming from the growing debt problems in Europe. The happenings
in Europe will play out big this week and investors in the U.S. will be paying
close attention. The weight of this should push indices lower during the opening
session today. More negativity this day may stem from Bank of America. BAC is
sifting through their share of negative news and their CEO will present at the
Barclays investors conference in New York. Sentiment is already low and the
posts to come this day may push it even lower. Stock trends will be challenged
as the week moves forward. Frank Matto
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