Stock Market News Review mid-day December 27, 2012:
The primary stock composites in the U.S. have finished in the red on 4 out of the last 5 trading sessions. Year-end budget drudgery continues to weigh down market trend-lines. Prior to today, economic news has been minimal this week which made it difficult to counteract the negative tide of momentum building. This morning, stock futures were mixed and investors dealt with hesitant feelings as leaders poured back into Washington after holiday break.
Fiscal cliff fears hit consumers which was reflected in the negative Consumer Confidence Index posting earlier. The index dropped to a reading of 65.1 according to the Conference Board. The negatively skewed report pulled stock composites lower. By mid-day, the primary stock composites were red across the board.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 Stock Index Review mid-day December 27, 2012:
The S&P 500 was lower by .73 percent at 1,409.42 at mid-day. The Nasdaq was red by .92 percent at 2,962.67 at mid-day and the Dow Jones Industrial Average was lower by .71 percent at 13,020.90 at the halfway point in the session today.
American Express and JPMorgan Chase were losers of the Dow at the mid-day point. American Express was red by 1.61 percent at 56.21. JPMorgan Chase was lower by 1.80 percent at 43.17 at mid-day.