Stock Market USA Today News Trends and Stock Composite review July 18, 2013:
Stock futures were mixed this morning as investors process the mixed market data from the mid-week session. Investors had been anxiously awaiting additional news from Federal Reserve Chairman, Benjamin Bernanke, on federal stimulus.
Bernanke reiterated that monetary policy in the U.S. would remain “highly accommodative” to support the U.S. economic recovery process. He did not give a timeline for stimulus measure drawbacks however.
In recent economic news, the housing sector received weaker than expected data. Building permits and new home construction numbers were down. Although the primary stock composites finished the last session with gains, stock futures were weaker this morning and stocks were positioned for the mixed start. As the trading session reached the mid-session point, stock composites climbed to record highs. Economic data today was better than expected which helped to push the Dow and the S&P 500 to new trading highs. According to the Labor Department, the number of Americans filing for initial jobless claims fell to 334,000 last week which was better than anticipated. Earnings data was positively skewed as well. A host of companies, including Morgan Stanley and Verizon reported better than expected data. As the mid-day point in the session hit, all three primary stock composites in the U.S. were tracking through positive territory.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 Stock Market News mid-day July 18, 2013:
The S&P 500 was positive by .55 percent at 1,690.13. The Nasdaq was higher by .14 percent at 3,615.17 at mid-day and the Dow Jones Industrial Average was higher by .65 percent at 15,571.33 at the mid-day mark today.