Current stock market trends are riding the wave of investor optimism that is
stemming from the eurozone. The DJIA, Nasdaq, and S&P 500 closed last session
positively due, in part, to this optimism. The primary indices moved higher
throughout the majority of the last trading week due to this optimism. The DJIA
and S&P 500 moved into positive territory overall for the year due, in part, to
this optimism. Today, prior to opening bell this morning in the U.S., futures
for the Dow Jones Industrial Average, Nasdaq, and S&P 500 were continued to post
in the green due to this optimism. The question some have however pertains to
duration. How long will the good sentiment last? This is an uncertain variable,
just as the specific action plan that European leaders are working on is more
vague than many would prefer. Trends in the marketplace will continue to remain
vulnerable as the eurozone attempts to avoid default and orchestrate bailout
plans. A change was already evident by mid-day of the U.S. session. As the
mid-day mark settles in on the U.S. trading session, the primary index
composites were posting red. The tide of good sentiment has passed and feelings
of unease are affecting trends this morning. The Empire State Manufacturing
report posted this morning as well and remained in negative territory. The index
reading in October posted at negative 8.5. This value is weaker than
anticipated. The Dow Jones was posting lower by 1.42 percent at 11,478.78. The
Nasdaq was lower by 1.62 percent at 2,625. The S&P 500 was lower by 1.44 percent
at 1,207 at mid-day. Frank Matto
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