Today’s Stock Market Dow Jones Industrial Average dji, S&P 500, Nasdaq Index Trends, Notes September 8th 2010 Mid day
Posted on | September 8, 2010 | No Comments
Yesterday, the major indexes were in the red as stocks went lower due, in part, to the European debt worries. Today, stock futures were trading higher after a recovery in the European markets. Apprehensions regarding the slow economic recover in the United States are also keeping many from making moves deemed to risky for the current economic climate. Many were expecting a carry over from last week’s progressions but the trend lines tell another story.
Today U.S. investors prepare for the release of the Federal Reserve’s Beige Book, which will offer a closer look at the economic conditions across the 12 regional districts. The release is scheduled for 2 p.m. The Fed report on July consumer credit is also to be released today. It is expected to decline by $5.25 billion with a previous drop in $1.3 billion in June. President Obama is scheduled to visit Cleveland today, where he expected to promote his proposal to allocate $200 billion in tax cuts for businesses. This proposal would allow companies to write off all new investments in equipment made from now until the end of 2011. The tax cut would give businesses incentive to buy new equipment in the short term. The midday market indices are all in the green. NASDAQ rose 19.28 points or 0.87% to 2228.17. S&P 500 advanced 8.53 points or 0.78% to 1100.37 .DJIA added 73.83 points or 0.71% to 10414.52.
Author: Pamela Frost