Daily Dow Jones Industrial Average: Signs Of Moderation, 06-04-2011

U.S. stocks ended flat in a light day of trading as market focused on Fed's minutes which saw Fed maintaining easy-money policies while offering reassuring words about the economy and vigilance on inflation, and a weak March non-ISM data of 57.3 (consensus: 59). The Dow Jones Industrial Average closed down 6.20 points to 12393.83. The S&P 500 index shed 0.2% or .24 to 1332.63.

U.S. Federal Reserve Chairman Ben S. Bernanke said policy makers must watch inflation “extremely closely” for evidence that rising commodity costs are having more than a temporary impact on consumer prices. “So long as inflation expectations remain stable and well anchored” and the rise in commodity prices slows, as he’s forecasting, then “the increase in inflation will be transitory,” Bernanke said.

The Dow lost as much as 46 points intraday, following most world markets, after China raised key lending rate and the rating agency Moody's lowered Portugal's credit rating.

Daily Dow Jones Industrial Average: Signs Of Moderation.



Source: StockCharts.com