U.S. stocks began the last trading session strong but trends were trailing off
as the last session approached close. Investors continued to hold onto worries
relating to the intensifying debt crisis ongoing in the eurozone. Italys 10-year
bond yields shot higher this past week which many perceived as a sign of
potential debt bailout need. Last session, similar signs were observed in
France. The yields notched higher, but still not near the 7 percent mark which
investors view as a negative sign. The eurozone is ripe with bailout talk but
leaders do not all agree on the best way to resolve issues. The uncertainty
regarding future steps is causing turmoil in the current marketplace and stock
indices continue to experience pressure. Stock indicators in Asia finished the
last session lower. The primary indices in Europe were lower as well. As the
session finalized in the U.S., the primary index composites were able to finish
on a positive note. The Dow Jones Industrial Average was higher by .96 percent
at 11,893.79. The Nasdaq was higher by .13 percent and closed at 2,625.15. The
S&P 500 was higher by .86 percent and closed at 1,239.0. Stocks rebounded to
close the last session as positive economic data in the U.S. helped boost
activity. The Labor Department in the U.S. reported that jobless claims dropped
by 10,000 to 390,000. This figure was better than what most economists were
anticipating. In addition to this positively skewed data, the U.S. trade deficit
narrowed in September. This was also better than expected. Frank Matto
No comments:
Post a Comment