Today’s Stock Market Dow Jones Industrial Average dji, S&P 500, Nasdaq Index Trends, Notes September 7th 2010 Mid day
Posted on | September 7, 2010 | No Comments
U.S. stocks fall Tuesday as the market opens lower today. The drop came as traders question the reports over concerns with Europe’s potentially risky government debt. The concern comes at the return of a long holiday weekend. The stress tests conducted on major European banks, performed to measure the health of the nation’s financial sector, reveal risky debt. Analysis showed the stress tests understated some lenders’ holding of potentially risky government debt. Gold prices are near record high and crude oil prices fall as investors seek safer assets in response to the European reports.
In the headlines on the U.S. market is the report that President Obama is set to release a new 200 Billion tax cut on Wednesday that will allow businesses to write off all new investments in equipment made between now and the end of 2011. It was reported that President Obama said that the hiring report was good news but that it was not nearly good enough. He stated that he would look to implement additional legislation in the next few weeks to prompt additional hiring.
As of midday the market shows the NASDAQ in the red at -16.13 down 0.72%, S&P 500 at -9.38 down 0.85% and DJIA at -73.79 down 0.71%. The negative drop breaks a previous rally from last week.
Author: Pamela Frost