Dow Closes Flat; S&P and Nasdaq Finish Lower
The major averages began the day in positive territory but
shortly thereafter moved below the unchanged line. A rally took
place shortly after 1:30 P.M. that brought the Dow briefly above
the unchanged line. But downward pressure once again infiltrated
stocks, as lingering fears within the credit market continue to
plague investors.
The early gains were attributed to news that Bank of America
(
BAC |
Quote |
Chart |
News |
PowerRating) would invest $2 billion in beleaguered Countrywide
Financial
(
CFC |
Quote |
Chart |
News |
PowerRating). The gains were momentary, as many
investors resorted to profit taking, selling their shares for
meager gains.
Crude oil future prices for September rose by
0.8% to $69.83 a barrel, after hitting an 8-week low yesterday. Gold
futures for December delivery fell fractionally to $668.40 an ounce.
Around Europe, Germany’s DAX index rose 0.15% to 7,511.96,Â
France’s CAC 40 index added 0.1% to 5,523.33, and Britain’s FTSE
100 closed flat at 6,196.90.
Join TradingMarkets Director of Education, Steve Primo, as he teaches a
number of quantitative strategies that can potentially give you an edge in your
trading.
Sign up now for one of our free training classes and start learning how to
become a better trader.
Stocks in Motion |
|
|
| Market Snapshot | ||||||||||||||||||||||||||||||||||||||||||||
|
|
Strongest/Weakest Industry Groups |
||||||||
|
Economic News |
|
|
Darren Wong
Associate Editor
darrenw@tradingmarkets.com
TradingMarkets subscribers have access to
16 quantitative
stock indicators and another
17 quantitative market bias indicators. These indicators are derived from
our proprietary database that includes millions of trades, and designed to give
you a short-term trading edge.
Start your 7-day Free Trial and see how a TradingMarkets subscription can
improve your trading.