Stock Market News Review and Stock Composite Close Data Today July 18, 2013:
U.S. stock composites have been up and down this week so far. The DJIA, as well as the Nasdaq and the S&P 500 closed the opening session with gains only to fall into the red on Tuesday.
Investors were feeling additional anxieties Tuesday ahead of Federal Reserve Chairman Ben Bernanke’s testimony. Last session, Bernanke reiterated that federal stimulus measures would remain highly accommodative to support the U.S. economy. His dovish comments reassured investors once again and helped to support positive stock composite trends throughout the last session.
Despite the weaker than anticipated news in the housing sector, all three primary U.S. stock composites finished the last full trading session with closing marks above break-even.
In housing sector news, the Commerce Department relayed that new home construction in June dropped lower by 10 percent over May’s rate and that building permits had declined by about 7 percent. The reports were both below initial predictions and thus disappointing. This negatively skewed data was not enough to outweigh the idea that the Feds will continue to support the economic recovery process. Stock trends shot higher due to the renewed optimism.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 close review:
The S&P 500 rose higher by .28 percent to close at 1,680.91. The Nasdaq increased last session by .32 percent to close at 3,610.00 and the Dow Jones Industrial Average closed up by .12 percent at 15,470.52.