The Dow Jones Industrial Average, as well as the Nasdaq index and the S&P 500
composite, surged during the last trading session in the U.S. The positive push
stems from heightened investor optimism over the European deal that has made
headlines during the latter half of this week. The debt crisis in the eurozone
continues to be a very tangible problem and the debt resolution action plan,
which European leaders are ironing out, is a good start at addressing the
issues. Insurance funds are being set up and recapitalization is the name of the
game. Additional resources are being pumped in to the eurozone bailout fund and
the summit in Brussels appears to be perceived as successful. Global stock
indices notched higher after word of the plan spread. Today, world market trends
are mixed. Primary indices in the Asian sector finished strong. The Nikkei
closed out 1.39 percent higher. The Hang Seng finished higher by 1.68 percent
and the Shanghai Composite closed up by 1.55 percent to end the trading week.
European indices finished mixed. The FTSE 100 finished red by .20 percent. The
CAC 40 went red by .40 percent and the DAX in Germany closed out .10 percent in
the green. Prior to opening bell for this last trading session in the U.S.,
stock futures were posting red across the board. Stocks positioned for the lower
open this morning in the U.S. and as the trading session reached the mid-day
mark, the primary composites in the U.S. were still moving below break-even. The
DJIA was lower by .12 percent at 12,194.44 at this point. The Nasdaq was lower
by .42 percent at 2,727.35 and the S&P 500 was red by .36 percent at 1,279.99 at
mid-day. Frank Matto
No comments:
Post a Comment