//
you're reading...
D&D Note

D&D Note (8-28-2012) ~ Stocks Move Sideways Ahead of Friday’s Jackson Hole Speech

D&D Note (8-28-2012)

Stocks mainly drifted sideways today with traders not willing to make big bets until there is more certainty on what course of action the FED will or will not decided to do. Investors did get a better-than-expected S&P/Case-Shiller Index report showing a 6.9% gain in the housing market in Q2, where analysts had expected a 0.3% decrease.

Consumer confidence did fall though in August with the worst reading since November. The Conference Board index fell to 60.6 from 65.4 in July, worse than the expected 65.7 reading.

Continue to trim your risk exposure ahead of Friday and ultimately the US elections. Currently D&D Investments is now at 38.16% cash in the portfolio, and will look to continue to reduce positions ahead of the looming correction.

The DOW (INDU) lost -21.68 point at -0.17%. The Nasdaq (COMP) rose 3.95 points at 0.13%. And the S&P 500 (SPX) fell -1.14 points at -0.08%.

Oil gained 86 cents to close at $96.29 a barrel.

Gold fell $6.10 to close at $1,669.50 an ounce.

The 10-Year Note gained pushing the yield down to 1.63%

 

About ddinvestments

Trading Partner for D&D Investments

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: