The Dow Jones Industrial Average closed out in the green on Thursday as the
index felt a positive push from the better than expected economic posts the made
headlines on that day. The lower weekly jobless claims, paired with the stronger
than expected GDP report helped to give investors on Wall Street the boost of
confidence they needed to help push the primary stock indices into the green
that day. The positively skewed outcomes on Thursday did not translate into
positively skewed close values for the last trading session of the week. All
three primary index composites in the U.S. finished off the day in the red. The
Dow Jones Industrial Average was lower by 240.60 points and closed at 10.913.38.
The Nasdaq finished the last trading session lower by over 65 points to post a
final close numbers at 2,415.40. The S&P 500 closed out the last trading session
negative by 28.98 points at 1,131.42. Stocks suffered through a majority of the
last trading session and capped off an overall negative third quarter. Rumors
that once were, regarding the potential for a double dip recession, seem more
tangible by the day. The ongoing debt crisis in Europe is really muddying the
waters at this time as well. The tide ebbs and flows regarding potential
resolution plans and the sooner European leaders initiate their action plan, the
better. The eurozone situation needs to find resolution. Even when it does, the
current trends in the marketplace will struggle to recover. Current trends
reveal that the potential double dip may, at this point, be unavoidable. Frank
Matto
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