Today’s Stock Market Dow Jones Industrial Average dji, S&P 500, Nasdaq Index Trends, Notes for August 23rd, 2010
Posted on | August 23, 2010 | No Comments
Stocks action continues to allow fear and apprehension about economic recovery take hold. Recent company reports reveal healthy business activity but the rally is yet to come in the market. Today’s market activity revealed that Hewlett-Packard made a $24-a-share bid for for 3Par in an attempt to move the company away from rival Dell. Also, Potash announced that its board rejected a $38 billion takeover bid from BHB Billiton.
With recent business news in mind, many would have thought that the market would have bull rushed forward instead of staying relatively stagnant. Today the Nasdaq has struggled the most to get out from under the negative current holding it down. The Dow Jones Industrial Average has made some positive movement as did the S&P 500 but the red kept pulling it back. The biggest news coming in for tomorrow will most likely be the home sales numbers and these will probably not help spur increased gains. Strong sectors today were personal products, supercenters, independent power producers, utilities and oil and gas drillers. Weak areas were employment services, photo products, application software and computer hardware. The dollar advanced against the Euro but Japan’s yen gained against the greenback. The end of day Dow Jones Industrial Average for August 23rd 2010 as of 3:53 was 10179.33 down .34%. The Nasdaq was at 2160.73 down .87%. The S&P 500 was at 1067.71 down .37%.
Author: Frank Matto