TODAY’S STOCK MARKET DOW JONES INDUSTRIAL AVERAGE DJIA, S&P 500, NASDAQ INDEX TRENDS, NOTES November 22nd, 2010 Week’s Overview
Posted on | November 22, 2010 | No Comments
Last Friday, the Dow Jones Industrial Average ended up .2% and settled at 11,203. The Nasdaq ended in the green as well by .2% and finished at 2,518. The S&P 500 ended in the green too by .3% and closed the yesterday out at 1,199. This week, there will be less volume in the market as Thanksgiving will reduce overall action on Wall Street. The day after is Black Friday and sales are expected to give market index values a bit of a boost for start of the holiday season. Today, there are no major economic reports due out.
On Tuesday, an estimate of third quarter gross domestic product is due to be posted via the Commerce Department. Also, from the National Association of Realtors will come the existing home-sales report for October. In addition to these reports on Tuesday, we will get to review posts that extend the minutes from the Federal Reserves Nov. 2-3 meeting. On Wednesday, a report of durable-goods orders will stem from the Commerce Department. Also on this day, the Commerce Department will report on personal income and spending for October. The department will also report on New Home Sales. Initial jobless claims will be reported on Wednesday as well from the Labor Department. Thursday is Thanksgiving and markets are closed for the Holiday. Friday will prompt Black Friday sales and all eyes will be on the sales data stemming from the official start of the holiday shopping season in America. Initial reports are positive and expectations are that sales will surpass sales from this same time last year. Consumer spending is expected to rise. If this happens, market index values should respond favorably and similar trending will be expected regarding the next six weeks of sales.
Author: Frank Matto