Investors opened this week with hopes that trend-line movement for the primary
stock indices would begin to move in a more positive direction. It is a
shortened week for the U.S. marketplace due to the Thanksgiving Holiday but
investors found little to be thankful for on the opening day of trading this
week. World markets closed out the last session weaker and this negative action
carried over to weigh down the primary indices opening day. A broad sell-off
transpired and stocks fell approximately 2 percent on the day. Trend-lines this
morning, prior to opening bell, did little to stir optimism. The Nikkei and the
Shanghai composite closed red in the Asian market and futures in the U.S. were
mixed. The Nasdaq and S&P 500 futures were posting in negative territory. The
Dow Jones Industrial Average slumped last session by almost 250 points and
negative news spread in the U.S. regarding the congressional supercommittee.
After months of debate to find common ground, the supercommittee announced that
terms could not be agreed upon regarding debt crisis response in the U.S. This
news is sure to pressure investors and stocks as this trading session plays out.
As the session reached the mid-day mark today, the primary indices were all
posting red. The Dow Jones Industrial Average was lower by .06 percent at
11,540.19. Stocks were faltering after the weaker than expected GDP report
today. Frank Matto
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