The primary index composites have been moving in a choppy and volatile fashion
over the course of the last three months. Investors have been inundated during
this time with bits of information and rumors pertaining to the economic
slowdown in the U.S. and in the eurozone. The debt default crisis in Europe
continues to boil near the top and occasionally spills over. The affects have
skewed mostly negative during this time and thus indices remain lower overall.
Yesterday, the primary index composites finished mixed. The Dow Jones Industrial
Average was lower by .15 percent, but the Nasdaq and the S&P 500 closed out
their respective sessions in the green. The Nasdaq was higher by .66 percent at
2,583,03 and the S&P 500 was higher by .05 percent at .65. Stock trends remained
mixed due to the uncertainty surrounding potential European bailout action.
Prior to opening bell this morning though, stock futures indicated the higher
opening for stocks in the U.S. The Dow Jones Industrial Average futures, as well
as the Nasdaq futures and the S&P 500 futures, were posting in the green at this
point. Global indices were posting mostly green at this point as well. The
positive action being observed in Europe today could have a positive impact on
U.S. trends as the session progresses. As the trading session in the U.S.
reached the halfway point, the primary index composites were pushing into the
green. Optimism pertaining to the European bailout action plan was helping to
push indices higher through the initial half of the session. Progress has been
reported regarding the expansion approval of the European Financial Stability
Facility. European leaders are attempting to reach an agreement by the end of
next week. The Dow Jones Industrial, as well as the Nasdaq and S&P 500 were all
trending higher by greater than or equal to 1 percent. At the mid-day point, the
Dow Jones Industrial Average was green by about 1 percent at 11,529. The Nasdaq
was green by 1.17 percent at 2,613 and the S&P 500 was higher by 1.27 percent at
1,211. Financial stocks were big sector gainers today. Citigroup stock was
higher at the mid-day point by 4.69 percent at 29.14 according to Google Finance
Stock Quotes. Frank Matto
No comments:
Post a Comment