The primary indices in the U.S. opened the month of November on the negative
side of break-even. Stock index tracking began to slope in a negative direction
throughout the closing days of October due, in part, to the surprise contingency
suggested for the Greek austerity plan. A vote of public approval was proposed
in order for the debt resolution action plan in Greece to move forward. This
sent the stock indices plummeting and weight of this development has pressured
stock indices since. This morning, prior to opening bell, the stock futures
board in the U.S. appeared to be positioned higher. Global indices at this point
in time were mixed. Primary indicators in Asia closed mixed. The Nikkei in Japan
closed red by 2.21 percent, but the Hang Seng in Hong Kong closed up by 1.88
percent and the Shanghai Composite in China closed higher by 1.38 percent.
Europe markets were stronger this day with primary indices in the eurozone
posting green across the board just an hour outside of their respective
closings. As the trading session approached the mid-day mark in the U.S. today,
the primary stock indices were green across the board. The Dow Jones Industrial
Average was higher by 1.49 percent at 11,831.12. The Nasdaq was higher by 1.07
percent at 2,644.66. The S&P 500 was higher by 1.85 percent at 1,240.79. Indices
are on the rebound on a global scale. Positive sentiment increased after ADP,
payroll processor, reported that payrolls rose during the month of October. In
addition, positive data posted via the Challenger, Gray & Christmas report. This
report relayed that planned layoffs in October dropped by about 63 percent. The
positive jobs data is helping to lift stock indices higher this day in the U.S.
Frank Matto
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