Market Summary 9/21/2010
Stock Market Closing Prices – 9/21/10
Dow ( DJIA ) Close - 10761.03 +7.41
Nasdaq - 2349.35 -6.48
S&P 500 Close – 1142.71 -2.93
Commodities Closing Prices – 9/21/10
Gold Close - 1272.40
Oil Close – 73.20
Natural Gas – 3.94
The Dow were up 7 points to 10761 after rising as many as 80 points after the Fed statement.
The central bank sees weakness for the foreseeable future and promises to act to jolt the ailing patient. The Fed signaled that it may yet inject more cash into the financial system to prevent the economy from falling into a new recession.
The dollar fell against other major currencies, while gold prices continued to hover near record highs. Crude oil fell $1.34 to $73.52 a barrel. Gold settled down $6.50 to $1,274.30 an ounce.
Stocks initially surged on the decision, but the major averages faded in the last half-hour of trading and basically ended the day flat.
The fade at the finish raised concerns that the September rally may have peaked. The fade at the finish raised concerns that the September rally may have peaked.
Economic Data: September 22, 2010
U.S. FHFA house prices for July. 10 a.m.
EIA releases weekly oil inventories data. 10:30 a.m.
China Premier Wen Jiabao speaking on U.S.-China relations in New York. 5:30 p.m.