News that the Fed has purchased over $30
billion in mortgage related bonds today has been the main factor
in market movement. The injection of liquidity is an attempt to
stem the credit crunch.
The Dow rallied back in late day trading after
being down nearly 120 points. IBM and ExxonMobil led the Dow rally
posting gains of 1.6% and 1.2% respectively.
Crude oil futures for September delivery
continued to fall dropping 1.3% to $70.69 a barrel on concerns that reduced economic growth
will hamper fuel demand. Gold futures for December
delivery rose 1.3% to $681.60 an ounce.
Around Europe, Germany's DAX lost 1.5% to 7,343.26, France's CAC
40 dropped 3% to 5,448.63, and Britain's FTSE 100 gave up
3.7% to 6,038.30.
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.
Each day, we provide free open access to one of these proprietary stock
indicators. If you would like to access all 16 stock indicators, 17 market bias
indicators, along with many other tools, click here for a free
7-day TradingMarkets trial.
