Online Stock Trading | Dow Fails to close above all time high as Nasdaq leads stocks higher

Dow Fails to close above all time high as Nasdaq leads stocks higher


Filed Under Market Commentary |

Stocks moved higher today on lighter volume. S&P 600 was slightly lower for the day, finishing -.16%. Nasdaq finshed as the leading index gaining more than .29% followed by the Dow .25% and S&P 500 .19%.

This morning final Q2 GDP numbers were announced sending stocks lower for much of the morning. In addition, personal consumption came in as expected 2.6%. Not bad numbers for the 2nd quarter of 2006. Traders were looking for something better than 3%.

In other markets, natural gas trading its November contract fell .28 to 5.392. Crude oil and unleaded gas retreated from its bounce from lows set earlier this month. We must keep in mind that natural gas prices are significantly less than prior year. Coupled with a warmer than expected winter we should see consumers spend a bit more during the Christmas shopping season.

The increase in consumer spending has a trickle down effect on business spending…

Bottom line, growth rally isn’t here. We’ll continue to wait.

See you at Investors Paradise!

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Comments

One Response to “Dow Fails to close above all time high as Nasdaq leads stocks higher”

  1. Joshua_NControl on October 6th, 2006 12:50 pm

    Somebody’s gotten lazy.

    roflmao.

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