Investors felt a wave of optimism as news spread last session that the Greek
referendum on austerity measures would not be further pursued Greek Prime
Minister has backed away from this idea and as a result, indices in the U.S.
last session received a positive bump. In addition to this news, the jobs data
that posted was positively skewed. Initial jobless claims dropped by about 9,000
to 397,000. This was significant as the data posted below the 400,000 mark which
many economists view as a threshold. Dropping below this threshold is viewed as
another positive sign that the Labor Market in the U.S. is improving. The
negative trend connected with jobless claims over the last several months is
reassuring to investors, and this also helped provide a positive push for stock
indices. Prior to opening bell this morning, futures for the primary stock index
composites in the U.S. were mixed. Dow Futures were higher but the Nasdaq and
S&P 500 futures were red. Global indicators look positive though. The primary
composites in Asia closed green across the board. The Nikkei, Shanghai
Composite, and the Hang Seng finished the day on positive ground. Stocks dropped
weaker in Europe however and the negative sentiment spilled over during the U.S.
session. As the session in the U.S. reached the halfway mark, the primary
indices were red across the board. The Dow was lower by 1.18 percent at
11,902.64. The Nasdaq was lower by .84 percent at 2,675.37 and the S&P 500 was
red by 1.18 percent at 1,246.21. Frank Matto
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