Market Summary 7/21/2010

Stock Market Closing Prices – 7/21/10

Dow ( DJIA ) Close - 10120.53 -109.43
Nasdaq Close - 2187.33 -35.16
S&P 500 Close – 1069.59 -13.89

Commodities Closing Prices – 7/21/10

Gold Close - 1191.60
Oil Close – 76.44
Natural Gas – 4.52

The Dow falls 109 points after Fed Chairman Ben Bernanke said the economic outlook is "unusually uncertain" and that he is worried about the long-term costs of high unemployment.

While the Dr. Ben sees a moderate recovery, he worries that jobs will be slow to bounce back. Stocks tumble.

Apple, Wells Fargo and Morgan Stanley shares are strong.

About the only good news from the selling was that stocks did not finish at their lows on the day.

Crude oil fell $1.03 to $76.55. Gold settled up 10 cents to $1,191.80.

Market breadth was negative. On the NY Stock Exchange, volume came to 1.2 billion shares. On the Nasdaq volume came to 2.25 billion shares.
Economic Calendar Data - 7/22/10

Initial Jobless Claims - 8:30am EST
Existing Home Sales - 10:30am EST
Day Two of Federal Reserve's Bernanke testimony. 9:30 a.m.
UPS to release quarterly results. Before market open.
AT&T to announce quarterly results. Before market open.
MSFT to report quarterly results. After market close.
Amazon.com to detail quarterly results. After market close.