Todays Stock Market Trends and Headline News: Stock index trends in the U.S.
were pressured lower during times this week as home based economic data was
mixed and global economic news was worrisome. Manufacturing data stemming from
places like China and India implied that a potential economic slowdown in those
areas may be at the doorstep. The uncertainty of when lower demand from global
markets will come knocking pressured index trends in the U.S. this week. Here,
the housing sector data that posted this week was weaker than some expected and
this temporarily took the wind from many sails. Yesterday though, unemployment
claims dropped lower again which helped to freshen our collective economic
outlook. As a result, futures were brighter this morning. Prior to opening bell
today, futures for the DJIA, Nasdaq, and S&P 500 were posting in the green.
Stocks were set for the stronger open to begin the last trading session of the
week. As the day progressed, index trends remained on the positive side of
break-even but the home sales data that posted was weaker than expected. Overall
this week, data stemming from the housing sector was disappointing. New home
sales and existing home sales data in February dropped lower. New home sales
dropped to an annual rate of 313,000 which was about 10,000 less than the number
of sales from January. Todays DJIA, Nasdaq, S&P 500 Stock Market Index
Approaching Close Data Review: Primary indices were green across the board as
close approached. The Dow was green by .34 percent at 13,090.42. The Nasdaq was
green by .15 percent at 3,068.04 and the S&P 500 was green by .38 percent at
1,398.13. Frank Matto
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