The stock market continues to ride the roller coaster of investor perceptions
this week. The Dow Jones Industrial Average and S&P 500 closed out the last
session on the positive side of break-even and the Nasdaq finished the day in
negative territory. Indices in the eurozone finished the day mixed as well.
Todays choppy trends represent a snapshot of last couple weeks in the
marketplace. Trends have been up and down. The initial half of last week saw
stock action gain significant strength, especially on Wednesday, only to see
this strength dissipate in the final two days of trading last week. This week
has begun with a mixed bag. The blue chips today, at one point, were higher by
100 points only to fall back to close higher by about half that much. Anxieties
rose higher upon hearing the news that S&Ps AAA credit rating of over a dozen
countries in the eurozone inching closer to potential downgrade. On the flip
side today, stocks seemed to find strength on investors positive perceptions
pertaining to a report from the Financial Times. According to the report, the
amount of financial support allocated to the eurozone debt crisis rescue fund
could equal upwards of 900 billion dollars. This news induced increased
confidence and optimism in the minds of many investors. Gains resulted in the
marketplace today and the Dow Jones Industrial Average finished higher at
12,150. Frank Matto
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