4 days down and counting…..
Index & Sector performance 9/24/13 The Market: The S&P 500 came into the day trying to snap a 3 day losing streak with even the smallest of gains but was unable to and after spending some time in positive territory, eventually lost ground and closed down for the 4th day in a row. In economic news the Case Shiller Index showed prices come in at the expected 12.4% increase year over year and slightly above expectations with a 1% month over month reading. Richmond Manufacturing was well below expectations but generally not considered significant to the market and Consumer Confidence…
Daily Wrap
DJIA -9.53 (-0.06%) to 15,238.59;S&P 500 -0.57 (-0.03%) to 1,642.81;NASDAQ -0.38 (-0.01%) to 2,990.49 Coming off last week’s action the market chose to use today to consolidate. It started with a strong gap higher that immediately sold off and then again rallied near the morning’s highs and this was all before noon EST. After roughly 12:30 pm EST, the market drifted lower and closed off but closer to the lows of the day than the highs. After such a stong move, it wouldn’t be surprising to see more consolidation for the days to come. News of the day included Apple Computers (AAPL) which kicked off the…