The primary index composites spent the majority of the last trading session
trending in the green. The Dow Jones Industrial Average, along with the Nasdaq
and the S&P 500 were pushed higher due, in part, to the positive ramifications
of jobs data that posted last session. Although the national unemployment rate
still remains above the 9 percent mark, weekly jobless claims dropped in
noteworthy fashion last week. According to the government data that posted
yesterday, there were 391,000 initial jobless claims that were documented for
the week ending September 24. This number was down by almost 40,000 from the
week prior and equals one of the best readings for this measure in over five
months. Even though this is just one weeks worth of data and does not make a
trend, it was enough to push primary stock indices higher overall for the day.
In addition to this positively skewed data, investors were also feeling
optimistic due to the news stemming from the eurozone. Germanys parliament
approved actions relevant to the eurozone bailout initiative. Other good news
stemmed from the GDP data. This report revealed that the U.S. economy grew at an
annual rate of 1.3 percent in the second quarter. This percentage was better
than expected and when paired with the unemployment numbers and progressive
actions being taken in the eurozone, investor confidence was on a relative high
in the U.S. marketplace. The Dow Jones finished off the day higher by over
143.08 points and closed at 11,153.98. Frank Matto
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