Stocks Up Slightly After Trade Gap Narrows
Wall Street opened down this morning but then rose, following news that the U.S. trade gap narrowed. This means imports fell because U.S. consumers are buying less, a sign of a soft economy.
In the first 15 minutes of trading, the Dow is just slightly above even.
The broader S&P 500 is up slightly less and the tech-heavy Nasdaq is up about two-tenths of 1 percent.
Forecasters expected the trade gap to increase, but diminished demand for oil imports drove it downward.
Today is the two-year anniversary of the all-time Dow closing high of 14,164. I'll talk some more about that later.
-- Frank Ahrens
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By
Frank Ahrens
|
October 9, 2009; 10:00 AM ET
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The Ticker
| Tags: Dow Jones, nasdaq, s&p 500
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Posted by: Dermitt | October 9, 2009 11:46 AM | Report abuse
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If it won't produce, put it into shut-down mode. Some of these people would start a garden in November and wonder why nothing would grow. It's looking like a long and cold winter. Burn dead wood.