Stock market remains in corrective mode

Friday's Economic Reports

Personal income in September was virtually unchanged with a gain of only 0.1%. Consumer spending, however, was up 0.6%. This was also reflected in a higher consumer sentiment reading released later in the morning that howed that October's consumer sentiment index rose more than anticipated to a reading of 60.9. Nevertheless, the market had little reaction to the news.

S&P 500 (Figure 2)

Index Wrap-up

The Dow Jones Industrial Average ($DJI) ended the day on Friday with a gain of 22.57 points, or 0.18%, and closed at 12,231.11. This mixed session left the gainers only slightly better than on par with the losers in the index. The top performers were Hewlett-Packard (HPQ) (+3.52%), Merck (MRK) (+2.33%), Alcoa (AA) (+2.03%), and Bank of America (BAC) (+1.94%). The weakest index components were Home Depot (HD) (-2.96%) and WalMart (WMT) (-1.14%). The index ended the week higher by 3.58%.

The S&P 500 ($SPX) finished the session with a gain of 0.50 points, or 0.04%, and closed at 1,285.09. One of the strongest of the index's industry groups was technology. The strongest individual percentage performers were Monster Worldwide (MWW) (+11.66%), United States Steel Corp. (X) (+11.57%), Interpublic Group (IPG) (+11.21%), and Newell Rubbermaid (NWL) (+11.14%). The weakest were Whirlpool Corp. (WHR) (-14.34%), Cablevision Sys. Corp. (CVC) (-12.54%), and MetroPCS Communications (PCS) (-8.12%). The index ended the week higher by 3.78%.

<< Page 2 of 3 >>
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome