The Market Today: Stock Trading Declines for the Second Straight Day

Posted on Nov 8 2012 - 9:20pm by Travis

For the second day in a row, stocks have continued to drop. The “good” news is that the numbers did not fall as hard today as they did yesterday. The numbers for today are as follows:

Dow: 12,838, -94.2, -0.7 percent
S&P 500: 1,380, -14.5 -1.1 percent
NASDAQ: 2,899, -38.2, -1.3 percent

All is not grim in the market, though. For example, jobless claims fell by almost 10,000, but because of Hurricane Sandy, reports might not be coming in from one or more states. When the number of jobless claims come out after the storm, it could end up being much higher than expected. This could cause the stock market to decline more. If work becomes available in the recovery process of the states most affected by the hurricane, then the market could improve.

The deficit has decreased a bit, which was an unexpected surprise in the market today. However, stock futures were unaffected by this data. It could be because some investors may not believe that the decrease will resume. It could very well be that the deficit will spike to even higher numbers than they were at previously before today’s dip.

While the day began with some high stock trading numbers, they began a steady decline when Greece announced its bailout measures. In other words, Greece has pushed back its bailout deadline, and this could be causing investors to worry.

Apple saw a drop because despite having some great new products, there seems to be a dearth of solid future products to look forward to.

Finally, the United States has had more debt demand since the election, and this is causing the markets to tremble a bit as well.

Perhaps the numbers will rise again going forward. Assuming Greece performs its promised bailouts, markets could see resurgence, and if the deficit continues to shrink, then that could also bolster the financial world.

Source: Business Insider