Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 11:46 PM. | Search:

» StockRants Stock Forum » General Forums » Traders Lounge » One Hour of Trading Can Change It All

Thread Tools Search this Thread
Old 10-23-2009, 06:27 AM   Nav to Top  #1
Senior Trader
dodjit's Avatar
Join Date: Aug 2009
Location: nicossia
Posts: 102
Rep Power: 140
Reputation: 123
dodjit will become famous soon enoughdodjit will become famous soon enough
Default One Hour of Trading Can Change It All

Sentiment flip-sided during yesterday’s session as a sudden downgraded, sent the major indices into negative territory. After trading most of the session in green, the S&P500 along with other indices, broke their intraday range, and headed lower. The Dow Jones Industrial Average closed the session once again below the 10,000 mark, after climbing higher during the prior session.

The sell-off was broad based, with the financial sector leading the way lower. Out of the 9 major sectors on the AMEX, only techs and utilities managed to keep their heads above water. Even though the session started on a positive note, due to upbeat earnings from Morgan Stanley and U.S Bancorp, Wells Fargo led the way lower as it received a downgrade towards the final hour of the U.S session.

Economic data also had an impact on the intraday session as the Beige book showed slight economic improvement during the months of September thru October. According to the report residential real estate and the manufacturing sector showed the most improvement, while commercial real estate showed the weakest figure. Furthermore the report showed that the banking system is still having its share of problems due to recent credit issues.

Read the full article at
dodjit is offline   Rate this post Yes | No Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On