The opening day of trading in October did not brush off the negative weight of
September as many had hoped it would. The Dow Jones Industrial Average, as well
as the Nasdaq and the S&P 500, closed out in negative territory. Stocks dropped
their way into the opening of the fourth quarter in the U.S. Prior to opening
bell this morning, futures were posting red across the board as well. Futures
for the DJIA at this point were lower by .32 percent and stocks were positioned
for the lower open. It will be difficult for the marketplace to shake off the
dust of yesterdays negative action. Stocks closed out at their lowest levels in
over a year on Monday as investors continue to be plagued by worry and anxiety
relevant to the banking and finance problems in the eurozone. The threat of
default, specifically in Greece, is pushing stock indices lower in the U.S.
Investors continue to worry about another recession and stock sell-offs
continue. Major stock sell-offs occurred during the last session and investors
on Wall Street expect to see similar trends during today;s session. The debt
crisis in Europe is forefront in the minds of many investors and it will be
difficult to find the catalyst to turn the negative the tide of negative
momentum in the marketplace. As todays trading session reached the mid-day mark,
the primary U.S. stock composites were mixed. The Dow Jones was still negative
at this point by .66 percent at 10,585.30. The Nasdaq and the S&P 500 were
experiencing a rebound in trends as both were posting green values at the
halfway point. The Nasdaq was green by 1.24 percent at 2,364.80 and the S&P 500
was green by .31 percent at 1,102.65. Frank Matto
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