Market Summary 8/19/2010

Stock Market Closing Prices – 8/19/10

Dow ( DJIA ) Close - 10271.21 -144.33
Nasdaq Close - 2178.95 -36.75
S&P 500 Close – 1075.63 -18.53

Commodities Closing Prices – 8/19/10

Gold Close - 1232.50
Oil Close – 74.55
Natural Gas – 4.17

The Dow tumbled 144 points to 10271, as investors were hit by bad economic news Thursday: manufacturing still stinks, more people are jobless and confidence in the future is less than hoped.

At the the end of day, however, the terror subsided somewhat. So, the market finished badly but at least off its lows of the day.

Today’s highlights: Intel will buy security software maker McAfee. Interest rates fall. Dell earnings disappoint.
Oil futures for September delivery slipped 99 cents to settle at $74.43 a barrel. Gold for December delivery rose $4 to settle at $1,235.40.

The S&P 500 has a technical breakdown. The index has found support at between 1,060 and 1,070, however. It's not clear if that support will hold on Friday.

After the bell, HPQ reported quarterly earnings and sales that strongly topped its year-ago results.

Futures trading actually suggest stocks could open higher Friday morning.

Economic Calendar Data: 8/20/2010

AnnTaylor to report quarterly results before market open.
Hormel Foods is set to report quarterly results before market open.