Reply #22: 10:11 EST numbers and (inane) blather [View All]

[UpInArms]

Dow 10,449.37 -26.53 (-0.25%)
Nasdaq 2,100.26 -6.61 (-0.31%)
S&P 500 1,175.09 -3.48 (-0.30%)
10-Yr Bond 4.365% +0.035

NYSE Volume 197,677,000
Nasdaq Volume 348,084,000

10:05AM: The market holds tight to its morning trading range as a negative bias prevails... Earlier, the U.S. Department of Commerce reported a Q3 GDP revision of 3.9% (consensus was 3.7%)... The improved performance was due to increased consumer spending and stronger investment in business equipment and software... But investors have viewed the data as a nonevent given its take on past (summer) conditions... Meanwhile, November Consumer Confidence and Chicago PMI were just released and came in at 90.5 (consensus 96.0) and 65.2 (consensus 62.0) respectively...

As a result, a knee-jerk reaction sent the indices to their worst levels but they have since rebounded somewhat to remain relatively unchanged... NYSE Adv/Dec 1078/1559, Nasdaq Adv/Dec 1077/1413

How dare investors react to reality!

Here's the buck:

Last trade 81.68 Change -0.25 (-0.31%)

Settle 81.93 Settle Time 23:36

Open 82.03 Previous Close 81.93

High 82.22 Low 81.62