The positive momentum that stocks gained through the last weekend faded a bit
during the last session. The glare from the better than expected retail sales
results over the weekend temporarily pulled investor attention away from the
current and ongoing turmoil in the eurozone marketplace. Indicators in the Asia
zone finished red. The Nikkei dropped by .51 percent. The Hang Seng in Hong Kong
fell red by 1.46 percent and the Shanghai Composite dropped lower by 3.27
percent. European markets were lower early but rebounded during the latter half
of their respective session. All of this is happening as steep borrowing rates
in eurozone countries are keeping investors on edge and pushing investor
confidence lower. The negative weight of this applied negative pressure to the
primary indices in the U.S. and as a result, futures were posting lower prior to
opening bell this morning. Stocks were set for the lower open in the U.S. today
but as the trading session reached the mid-day mark, the primary indices were
rising. Eurozone indicators closed green across the board today after the
rebound. The Dow Jones Industrial Average was higher by 3.54 percent at
11,964.89 at mid-day. The Nasdaq was green by 3.44 percent at 2,602 and the S&P
500 was higher by 3.41 percent at 1,235.89. Central banks around the world are
stepping up to help Europes financial situation. The Federal Reserve, as well as
a handful of other central banks, are making moves to make it cheaper for banks
around the globe to borrow the dollar. Indices are shooting higher as a result
of this news today. Frank Matto
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