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dow2664 The primary stock indices in the U.S. lost steam as the trading session progressed. The Dow Jones Industrial Average, Nasdaq and S&P 500 fell back as the day progressed and this negative action was due, in part, to the diminishing amount of confidence investors were feeling regarding the action plan to avoid defaults European leaders were trying to iron out. The details of the plan are unclear and the timeline is making many more nervous by the day. Stocks retreated during the last trading session as a result and ended red across the tracking boards. Specifically, the Dow Jones Industrial Average closed out the day on the negative side of break-even by 1.61 percent at 11,010.90. The Nasdaq finished the day negative by 2.17 percent at 2,491.58 and the S&P 500 was negative by 2.07 percent at 1,151.06. Stock index trends experienced a steady retreat during the trading session, closed out red, and ended the three day streak of positive finishes for the primary U.S. stock composites. Thoughts of recession on a global scale dominated the thoughts of investors during the session and ultimately pulled stock trends lower. Additional negative news posted via the durable goods orders report yesterday. The government’s report relayed that durable goods orders for August were lower by .1 percent. The dollar lost strength to the euro and Japanese yen and precious metal gold dropped lower during the session. Frank Matto
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