The Dow Jones Industrial Average, along with the Nasdaq and the S&P 500 worked
their way higher during the last trading session in the U.S. Investors on Wall
Street received a boost of confidence from the global marketplace. Indices had
been trending lower locally, but yesterdays trends represented a change of
fortunes. The anxieties relating to the eurozone financial crisis subsided, at
least temporarily, across markets and helped indicators find positive ground.
Market indicators went positive in the U.S. after postings out of France,
Britain and Germany skewed positive. Officially, the Dow Jones Industrial
Average closed out higher by .40 percent or 44.73 at 11,105.85. The Nasdaq
officially closed out higher by 1.49 percent or 37.06 at 2,532.15 and the S&P
500 closed out higher by .91 percent or 10.60 at 1,172.87. The debt crisis in
Europe tempered and stocks strengthened. Many investors though are still
sidelined and still worried. Europe has not shown consistent positive direction
and until it does, investors will be unlikely to change their overall negative
perception. This negative perception will continue to apply negative pressure to
markets globally. Economic data that posted last session pertained to imports
and exports. Import pricing data revealed a decline in overall import prices by
.4 percent for August and a rise in overall export price by .5 percent for
August. The dollar strengthened versus the euro and the British pound and gold
contract price per ounce rates moved higher. Frank Matto
No comments:
Post a Comment