Stocks were positioned lower this morning prior to opening bell. Stock futures
for the Dow Jones Industrial Average, along with the other primary stock index
composites in the U.S. were posting red across the board. It appears that the
positive economic news which helped indices notch higher during the last trading
session in the U.S. did not build enough positive momentum to carry through into
the last trading session of the week today. Indicators from primary overseas
markets were posting red at this point in the trading session as well. Stock
indices in Asia were in negative territory and stocks in Europe were already
trending weaker as well. This is not good news. Yesterdays positively skewed
report raised the expectations of many on Wall Street and so data that is just
slightly skewed towards the negative might seem even worse for those observing
from a U.S. perspective. As the trading session reached the halfway point today
in the U.S., the primary index composites were all trending in the red. Stocks
tumbled throughout the first half of the trading session today. At this point,
the Dow Jones Industrial Average was lower by .36 percent at 11,114.25. The S&P
500 was lower by .78 percent at 1,151. The quarter will be a loser overall and
the talk of double dip is increasing. Frank Matto
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