Friday, October 15, 2010

Banks drag Wall Street lower

Dow continued on its previous day's trend ...picked in last hour .
left side is previous  session's day chart and below is last day's chart

Banks led stocks lower on Thursday as investors fretted a widening foreclosure crisis could undermine the market's strength over the last five weeks.
The S&P 500 has rallied 11.9 percent since September 1 and volume has picked up from anemic levels. But the rally could weaken as an index of bank stocks fell nearly 3 percent on Thursday over growing fears the foreclosure problems could bleed into the broader credit markets and the economy.
"As we all know, the market hates uncertainty and this is a big one. Remember the subprime mess?," said Joe Saluzzi, co-head of trading at Themis Trading in Chatham, New Jersey.

Dow Jones Industrial Average

 (DJI: ^DJI)
Index Value:11,094.57
Trade Time:4:01PM EDT
Change:Down 1.51 (0.01%)
Prev Close:11,096.08
Day's Range:11,023.54 -11,112.20
52wk Range:9,596.04 -11,309.00

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