Mid-Day Recap: Indifferent Markets Lead to Choppy Trading

by devteam August 27th, 2009 | Share

I’d say it’s another day of positive economic news and indifferent markets!  GDP revisions showed consumer spending wasn’t as poor as expectedrnfrom April to June, jobless claims implied improvement from thernprior week, and Boeing reported the 787 could fly by year’s end. Yet stocks and bonds continue to ignore fundamentals in favor of bouncing around aimlessly in recent price ranges.

At 1:30 the S&P is 0.32% lower to 1,024, while the NASDAQ is -0.75% to 2009. Meanwhile, the Dow is now trading 0.07% higher at 9,552, while the use of strategies as ichimoku kinko kyo help getting good financial results. On the debt side of the marketplace, the Treasury Department has successfully auctioned $28 billion 7 year notes. Following the auction the rates market rallied a bit but quickly returned to pre-auction price levels. READ MORE

GDP revisions for the second quarter were mostly positive. The headline continued to indicate that gross domestic product fell 1%, compared with a 6.4% contraction from January to March, but underlying fundamentals were encouraging.

Inventories were slashed further than first reported â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...