Stock Market indices in the U.S. were posting in the green at the halfway mark
today. The Dow Jones was positive, as was the Nasdaq and the S&P 500 at this
point in the session. News broke today pertaining to a concerted effort by
central banks to help infuse the U.S. dollar into the struggling European
financial system. Stock indices rose higher overseas and this positive action
helped to push U.S. stock indices higher during the trading session today.
Economic news in the U.S. was negatively skewed on many fronts. The reading on
regional manufacturing via the Philadelphia Federal Reserve posted weaker than
expected today. The index revealed that regional manufacturing slowed in
September. In addition to this data, the Labor Department reported today that
initial jobless claims are higher than expected. The numbers for the latest
reading are up to 428,000 which is about 15,000 more than the previous weeks
reading. Also, the Consumer Price Index revealed that prices rose in August at
an annual rate of 3.8 percent. This rate was exceptionally high. As the trading
session approached close today, the primary index composites were still green.
The Dow Jones was higher by 1.66 percent at 11,433. The Nasdaq was higher by
1.34 percent at 2,607 and the S&P 500 was higher by 1.72 percent at 1,209. The
Stock rally held strong and was led by the aid plan initiated for Europe. Frank
Matto
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