Wednesday, May 25, 2011

Dow Jones Eases 25 Points In A Volatile Session

Wall Street outlook: Dow Jones eases 25 points in a volatile session
In volatile trading, the Dow Jones rose as much as 41 points in the early session following Goldman Sachs upgrade on commodities and a better-than-expected April new home sales report.

However, the Dow Jones subsequently slipped 25 points to end at 12,356 as investors worried about continued slowdown in the economy during the 2H2011 following the end of QE2 in June as well as the persistent debt troubles in peripheral euro zone countries.

On the economic front, following much weaker-than-expected New York and Philadelphia Fed manufacturing surveys last week, the Richmond Fed survey showed on Tuesday that manufacturing in the central Atlantic region stalled to -6 in May (Apr: +10) after expanding for seven months.

Daily Dow Jones At Crucial Support Of 120-Days SMA
DowJones25-05-2011

Source: StockCharts.com

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