One day after closing green across the board, the primary index composites in
the U.S. dropped below break-even last session. Investors anxieties were on the
rise just one day prior to the release of debt crisis resolution details in
Europe. The worry pushed primary indices in Europe lower last session and this
negative action weighed down the primary stock trends in the U.S. The DJIA,
Nasdaq and S&P 500 were posting red across the board during the majority of the
last trading session and ultimately finished off the day in negative territory.
The Dow Jones Industrial Average closed out the last session lower overall by
1.74 percent at 11,706.62. The Nasdaq closed out the last session lower by 2.26
percent at 2,638.42. The S&P 500 finished off the last session lower overall by
2 percent at 1,229.05. Trends were red throughout the session but sell offs
peeked during the latter half of the trading session. The final results
represented a relative low for the day. Economic reports posting recently have
been a mixed bag. Home prices bumped higher this past month by .2 percent
according to the S&P Case Schiller index. The consumer confidence report posted
lower in October. It posted at 39.8 which was the lowest posting value for
consumer confidence in years. The dollar gained strength versus the euro. Oil
price per barrel pushed higher to 92.17 per barrel. Gold rates notched higher as
well. Frank Matto
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