Stock futures were green prior to opening bell for the last session and just
after opening bell, the Dow Jones Industrial Average climbed higher by
approximately 200 points. The positive stock surge helped push the primary U.S.
stock indices higher and ultimately close out the day in a positive fashion.
Investors were feeling more optimistic about the state of the global economy
after hearing news that European leaders were making progress towards towards
solving the long-standing sovereign debt problems. The added signs of stability
in the eurozone sector helped provide a lift for European stocks and this
positive action spilled overseas to affect the U.S. marketplace last session.
Greece has been a focal point in the eurozone, warranted or not, and will
continue to receive attention as the debt crisis resolution process plays out.
If headlines go downhill this week in Europe, the primary stock index trends
will quickly follow. It is still a volatile situation to say the least and one
that could skew more positive or negative easily. Economic posts in the U.S.
were flat-line at best last session. The consumer confidence index posted at
45.4. Economists were expecting a reading a bit higher at 46.6 for September.
Home prices rose slightly in July over June but are still lower than home values
from 12 months ago. The housing sector continues to struggle. Ultimately
however, the positive action stemming from the European debt resolution talks
was enough to keep stock indicators green in the U.S. The Dow Jones Industrial
Average closed out higher 1.33 percent at 11,190.69. The Nasdaq closed out
higher by 1.20 percent at 2,546.83 and the S&P 500 finished green by 1.07
percent at 1,175.38. The positive close for the stock indices in the U.S. last
session marked the third straight day that the indices ended on a higher note.
Frank Matto
No comments:
Post a Comment