This trading week opened with a broad based sell off as the market made
corrections for a rally that closed out last weeks sessions. The DJIA , as well
as the S&P 500 and Nasdaq, dropped into negative territory to open the week. The
negative trends were a result of broad based sell-offs that day. European
leaders stated publicly last week that they would unite to correct problems that
have been plaguing the eurozone economy, but details of the action plan were not
forthcoming. The indices were pressured lower on opening day as a result. The
Negative momentum that built on opening session carried through to last session
to pull the primary indices lower once again. Last session, stock futures for
the primary indices in the U.S. were green and stocks positioned for the
stronger open. The positive trending did not last long however. As the trading
session close out in the U.S., the primary indices closed red across the board.
The Dow Jones Industrial Average closed the last session red by .55 percent at
11,954.94. The Nasdaq index closed red by 1.26 percent at 2,579.27. The S&P 500
finished the session red by .87 percent at 1,225.73. In addition to the negative
pressure stemming from the eurozone, stocks felt increased pressure as a result
of the negatively skewed report posting via the Federal Reserve. Investors
expected that the Feds would leave interest rates unchanged, which they did, but
the Feds also added added that the economic outlook right now is strained due to
the problems that continue to plague the global marketplace. A majority of
global indices in Asia and the eurozone finished the last session in the red as
well. The euro struggled once again and the dollar gained strength versus the
British pound and the Japanese yen. Oil price per barrel closed higher at 100.14
per barrel and gold futures dropped to 1663.10 per troy ounce. Frank Matto
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