The primary indices in the U.S. experienced a rebound during the latter half of
the last trading session. The primary index composites initially followed the
primary eurozone indicators lower during the initial half of the last trading
session, but then a batch of better than expected economic reports helped to
push the primary indices in the U.S. to the positive side of breakeven. The
positively skewed economic news that posted during the last trading session was
enough to increase investor optimism and decrease focus on the turmoil and chaos
ongoing in the eurozone. The Dow Jones Industrial Average closed out the last
trading session positive by .14 percent at 12,096.16. The Nasdaq closed higher
by 1.09 percent at 2,686.20 and the S&P 500 finished green by .48 percent at
1,257.81. The positive outcome across the board for the primary indices in the
U.S. was due, in part, to the positive batch of economic reports that posted
yesterday. One noteworthy report last session was the Empire State manufacturing
report. Manufacturing in New York is positive, more positive than most expected.
The Empire State index notched higher to .6 from negative 8.5 last month. In
addition to this positively skewed report, the retail sales data posted and
revealed that retail sales rose .5 percent in October. This presentation was
better than expected and a positive sign for the U.S. economy. Investors will
observe closely today to see if the European crisis takes over and defines index
trends once again today. Frank Matto
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