Today’s Stock Market Dow Jones Industrial Average dji, S&P 500, Nasdaq Index Trends, Notes September 10th 2010 Mid Day
Posted on | September 10, 2010 | No Comments
Today investors await the scheduled report on wholesale trade. Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. Investors monitor this closely because it can be a precursor for consumer trends. If inventory growth lags sales growth, manufacturers will need to boost production to prevent shortages. If inventory accumulated , then production will have to slow. In this way, inventory data provides a valuable tool to track the economy. Sales at the wholesale level did rise in July, but is slower than the inventory increase. It is predicted that a major inventory build is in the making.
Yesterday, trading was modest and stocks held moderate gains as the day came to a close. The Dow Jones Industrials, Nasdaq, and S&P 500 held green through closing. Investor confidence and understanding of what direction the market is going leaves most feeling timid and apprehensive in terms of solid prospects in the market. A positive spin from a recent report by President Obama relating to economic recovery and job recovery have some feeling optimistic, but the jury is still out. Currently, the mid day markets are holding in the green with NASDAQ rising 7.23 points or 0.32% to 2243.43. S&P 500 up 5.54 points or 0.50% to 1109.72. DJIA added 42.61 points or 0.41% to 10457.85. Strong sectors at this time are agricultural products, oil and gas equipment and refiners, home furnishings & advertising. Weak sectors include health care facilities, application software.
Author: Pamela Frost