Tag Archive: dow jones industrial average

Earlier today, the government released the report on US Jobs. As some have predicted over the past few days, the data was bad. After my report yesterday, the markets went even lower because of the predicted low quality of the jobs report to be released today. And today, the down market carried over.

The Dow Jones dropped more than 250 points so far and it doesn’t look like it’s stopping. The graph on the right, provided by Yahoo! Finance shows the steep drop the Dow Jones Industrial Average took today. The combined drop of yesterday and today has nearly undone the rally we have seen during the last 4 market days of August. The sight isn’t pretty but we will bounce back! The Dow Jones is currently at 11,239, making the gap between the current price and the magic 12,000 mark even greater.

Dow Jones Huge Drop on September 2nd

by Yahoo! Finance

The NASDAQ Composite dropped more than 71 points and is currently at 2,474. The S&P 500 is at 1,173 after a drop of more than 31 points or more than 2.5% of its value. The New York Stock Exchange (NYSE) dropped almost 200 points so far and is currently standing at 7,244.

The US Jobs Report stated that in August, only created 17,000 jobs, which is almost nothing compared to what was expected. What makes this worse is that they revised the amount of jobs for June and July as well. They found that there were more than 58,000 fewer jobs than what was originally thought. So not only did we barely create jobs in the private sector July, we had the numbers for the two previous months wrong. And even worse than that, the government/public sector also cut more than 17,000 jobs in August. They pretty much cancel each other out so the economy didn’t really see any jobs created last month. This is actually very sad.

The unemployment rate stays at 9.1%. This lowers the confidence investors have in the economy. This could signal that the federal government will come out with another Stimulus to encourage consumer spending. The problem with a stimulus package is getting the money. They would have to figure out where the money would come from because they can’t just take it away from something essential and they can’t just print more money because it just lowers the value of the dollar.

We will have to see where things go from here but for today, we can expect the stock market to stay in the red. I wouldn’t be surprised if the stock market actually goes lower than it has so far. The news today was definitely surprising especially the part about the revisions of June and July jobs data. The government has to be able to do something to turn things around and I am not sure if a stimulus would be the best plan. I’m not an economist so I can’t say what would be best but so far, everything they’ve tried hasn’t worked.

Whenever there is economic distress, Gold seems to always jump in joy. Last week, the price of Gold dropped below $1,800 an ounce and stayed there for some time. But the bad trading sessions over the past few days has given Gold the chance to rally all over again. Today gold has gained more than 50 points. Currently it sits at $1,878 an ounce, well over a $100 gain from last week. If the economic distress continues and the stock market continues to plummet, we can expect gold to keep rallying. It does seem that the Gold bubble isn’t bursting, it has life left. I still believe that it will burst sooner or later because the economy is bound to bounce back. We have seen economic hardships like this several times in our history and every time, the economy recovers. We have no reason to believe that this time is any different.

We just have to keep a positive outlook. Hopefully the economy turns around soon and hopefully the job data for September is better when it’s released next month.

Stock Market Lowers on Job Report

By Idea go

The government is due to release August’s Job report tomorrow. As a result, the stock market has gone down a bit as investors become wary about tomorrow’s report. Investors are predicting that the jobless rate will be up another 0.1% to 9.2% compared to July. They also believe that fewer jobs were added in August compared to July. These worries have sent the stock market to the red side today. We might actually finish in the red today if some good news doesn’t come out in the next 2 and a half hours.

But this little slump isn’t bad. The stock market is a volatile playground and it is due to go up and down from one day to another. The little drop we have seen so far today won’t undo the huge gains we have seen over the two weeks. And overall, today is a slow day for trading in the stock market.

So far, the Dow Jones Industrial Average has dropped 22 Points and the NASDAQ Composite has dropped almost 11 points. The S&P 500 has dropped just 3 points while the NYSE has dropped almost 18 points.

If the news tomorrow is worse than expected, we can assume the stocks to keep going down tomorrow. However, I don’t think it will be enough to undo any of the gains we have seen in the past 2 weeks. I am also hopeful that the report tomorrow is better than expected. If that’s the case, we can expect the stock market to rally once again and we can also expect that momentum to carry over to the beginning of next week.

The stock market did see an increase earlier today and hopefully, it will bounce back. We have had a day like this earlier this week on Tuesday. The stock market was at first down but by the closing bell, it finished in the green, even though the gain was very little compared to the rest of the week. We could see the same today because the losses so far haven’t been that great and we are very close to the borderline of the green zone. We will have to keep monitoring the stock market to see where everything lands.

All in all, not much has happened today. The slump comes from speculations of what will be released tomorrow. The only way to find out the actual job report is to listen to a report of the report or be there when the government announces it. Hopefully it’s good news, or hopefully it’s not too bad. I don’t think the news will have a huge negative effect on the markets for tomorrow or next week, but you never know.

Stock Market Going Up and Down Today

by jscreationzs

Earlier today, it seemed as if the momentum of the stock market has stopped for a bit. The Dow Jones Industrial Average was as low as 11,429 today, more than a 100 points below its previous closing price of 11,539. Even with the big swings today, the Stock market finished at a positive with the Dow Jones gaining just 20 points, finishing at 11,559.

The NASDAQ Composite gained just 14 points, finishing off at 2,576. The S&P 500 gained less than 3 points finishing at 1,212. And the New York Stock Exchange (NYSE) finished at $7,462 with a gain of 13.7 points.

It was a fairly slow day in terms of gains for the overall stock market. Most of the banks in the banking sector went down in value including Citigroup (C), Huntington Bancshares Inc (HBAN), JP Morgan Chase (JPM), Bank of America (BAC), and Goldman Sachs Group (GS). They’ve all dropped, but not that much. The drop in the banking sector contributed to the very slow and small gains of the stock market today. The Volume of trades were also low throughout the stock market today. But it could be just the world slowing down for today. I believe that the next three days of trading will be better, well at least I hope it will be better.

After my report yesterday, Gold price was at a steady $1,786 an ounce. Today, it saw a bit of juice as the stock market was going up and down all day long. Currently, Gold is standing at $1,838 an ounce. It gained just over $52 an ounce since yesterday. Slow gains in the stock market usually means a decent gain in Gold. I’m sure gold would have been higher today if the stock market stayed in the red all day. And I am still sticking to what I said yesterday, I still believe the overall average price of Gold will continue to decrease over the next few months. The economy is still recovering and there has been talks of more economic stimuli to come our way which will most definitely help the economy grow a little faster.

Even with the volatile stock market today, we saw small gains. I am thankful that we saw gains. We need to keep the green streak going and keep the momentum up. A positive attitude about the growth of the economy and what we can do to stimulate it can go a long way. Today was a slow day, hopefully the rest of the week sees some more action and sees more green!

Stock Market Bull Market

By jscreationzs

We received news of a huge Hurricane heading to the east coast last week. It had 55 million people in its path. They name it, Irene.

The media told all of us that it could be a big one and could cause a lot of death and destruction. Although it caused a lot of destruction, it was far less than expected. I am here in Queens, New York and I can honestly say that I didn’t even see the storm as a hurricane. I know a lot of people would disagree, but my placement in New York was perfect because the Hurricane barely did damage.

Since Hurricane Irene didn’t cause much damage, the Stock Markets rallied. The damage was far less than previous expected and today investors felt good about the market. This good news came just a few days after FED Chairman Bernanke gave good news about the growth in the US Economy and said that we were going on the right path. With these two factors, the stock market rallied in every sector today.

The Dow Jones Industrial Average soared 254 points today finishing at 11,539 points. We are closing in on the 12,000 mark with the Dow Jones and I hope that the momentum continues throughout the rest of the week so that we can hit that 12,000 mark that we haven’t seen for weeks.

The NASDAQ Composite jumped more than 3.3% today with a gain of 82 points, finishing off at 2,562. The NASDAQ is getting close to its 52 week high of almost 2,900 and hopefully it does. It will signal a great time for the economy because it will truly point towards the fact that it is growing.

The S&P 500 saw a gain of 33 points finishing off at 1,210. And the New York Stock Exchange (NYSE) saw a gain of more than 204 points finishing off at 2,450.

The stock market saw gains everywhere.  Even the price of gold grew from when I reported it’s price Friday evening. I reported that the price of gold was about $1,781 an ounce in my article titled “Stocks Rally After Positive Outlook by FED Chairman Bernanke” on Friday. At this moment, Gold is at a steady $1,786 an ounce. As I mentioned last week, it seems that the price of gold is stabilizing. It has been around this price for days now. It has fluctuated greatly over the weekend, mostly because of Hurricane Irene, but it always goes down to the high $1,700 mark. And since Friday evening, Gold has only gained $5. It could mean that investors are putting their money in stocks and not Gold because they believe the price of gold will not go back up.

I believe that the price of gold will continue to fluctuate over the rest of the week. The price of gold is still very volatile and it can go up and down in huge amounts in short periods of time and without warning. I also believe that the overall average price of gold will continue to drop as the year passes. Lately, we’ve been around the $1,780 mark, and the average price should keep going down as investors see that the price of gold capped out at just over $1,900 less than 2 weeks ago and that the US Economy is on the right track to recovery.

Since I’ve been keeping my eye on Universal Display Corporation (PANL), I’ll give you an update. Today, it was one of the few stocks to actually go down. It only went down $0.49 a share. However in after hours trading, PANL saw another rise of $4.68 per share, or just over 9%. Earlier this evening, PANL has announced that they have made an agreement to work with Panasonic Idemitsu OLED Lighting Co. Ltd. Cooperation between companies is usually a positive thing and this time it was. Investors saw the opportunity  Universal Display Corporation (PANL) has given them because they just opened up to more revenue as the year passes. And now it’s that much closer to it’s 52 week High and I believe it will hit it and maybe surpass it this week if its momentum keeps up.

Overall, Today was a great day for the stock market. Let’s hope it continues for the rest of the week because the US Economy definitely needs a break after what it went through the last half of the summer. We almost went the other way with Hurricane Irene and we probably would have if the damage was any higher. I’m glad that Irene didn’t cause as much damage as previously thought and I hope that all of you and your families are safe!

The Increase in the Stock Market

By jscreationzs

After the Market Tumbled After 3 Days of Rallying yesterday, we saw a great positive sign today. As we had all hoped, Federal Reserve Chairman Ben Bernanke made a positive announcement today saying that he predicts US Growth in the coming future. He said that the US Economy is on the right track for a long term economic growth and I hope he is right. It’s about time the US economy bounces back from the recession we have been seeing lately. Just this past month alone made the markets almost unbearable.

Bernanke hasn’t mentioned anything about any plans the Fed may take to boost further the US Economy. It may be because he believes that the economy does not need any more catalysts in the mix. If the economy grows in the future on it’s own, then that’s the best thing any investor can hope for. Bernanke admitted that the recovery has been slower than expected but he also said that it is happening and any growth is better than no growth at all.

As a result of the announcement, the stock market has been rallying so far. Currently the Dow Jones Industrial Average is up more than a 140 points and the NASDAQ Composite up more than 56 points already. The S&P 500 is up more than 17 points and the New York Stock Exchange (NYSE) up more than 92 points so far.

I think this announcement will keep the markets on a positive side for the rest of the day. The announcement has put hope back into the minds of investors after the sell offs that occurred yesterday after some worries of the announcement. I believe that the momentum will carry over to the markets next week and we will get ever so much closer to the 12,000 mark in the Dow Jones, a mark we haven’t seen all month.

Even though the stock market has been rallying today, the Price of gold has increased as well. Yesterday I reported that the price of gold was at $1,769 an ounce. So far today it has seen some gains. Currently gold is at $1,781, about $12 more than what it was yesterday. It seems as if the price of gold has almost stabilized around this point. It hasn’t been as Volatile  as it has been over the weeks prior to the market’s rallies of this week. If the markets keep rallying next week, I believe that gold will go down. It may not go down to the level it was at the beginning of this year that quickly, but it will go down. We expected gold to get past the $2,000 an ounce mark but the markets have kept it at bay. The $2,000 mark isn’t very impossible. All we”ll need is another incident in the global economy and I’m sure we’ll see gold sky rocket again.

But for now, the markets are doing very well, and gold price is steady. Certain stocks have been doing great as well. Apple Inc. (AAPL) has been going down for the past few days, but today, Apple stocks have risen more than 2%, or just over $8. It is a result of the Bernanke announcement as well as investors getting used to the fact that Steve Jobs is gone and Tim Cook is in charge.

There are still more than 3 hours left until the markets close for the day (unless you’re gold), so anything can happen. I believe we will stay in the “rally” zone and hopefully by the end of the day, we will see bigger gains.