Stock Market Closing Prices – 10/12/2010
Dow ( DJIA ) Close - 11020.40 +10.06
Nasdaq - 2417.92 +15.59
S&P 500 Close – 1169.77 +4.45
Commodities Closing Prices – 10/12/10
Gold Close - 1345.70
Oil Close – 81.80
Natural Gas – 3.65
The Dow were up 4 points to 10020, The Dow had been down as many as 97 points early in the day.
Stocks turn up as the dollar falls, after the Fed wows to step in to boost economy.
The minutes from the Fed's Sept. 21 meeting show that members of its rate-making body, the Federal Open Market Committee, are worried about continued high unemployment and whether inflation will be too low. A concern is that deflation will swamp the economy. The big tool left to the Fed is what's called "quantitative easing", whereby it buys in Treasury securities to keep long-term interest rates low.
Gold settled down $7.70 to $1,346.70 an ounce, only its fourth decline in the last 10 sessions. Crude oil fell 54 cents to $81.67 a barrel. The dollar was higher for much of the day but moved lower after the Fed minutes came out.
Gold settled down $7.70 to $1,346.70 an ounce, only its fourth decline in the last 10 sessions. Crude oil fell 54 cents to $81.67 a barrel. The dollar was higher for much of the day but moved lower after the Fed minutes came out.
The Fed news and the results from Intel and CSX cheer Street. Future trading suggest tomorrow open higher.
Economic Data: Oct. 13, 2010
International Energy Agency to release outlook on global oil supply / demand.
J.P. Morgan Chase set to report quarterly results before market open.
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