Economic Reports Drive Stocks Lower LM Live! Report for Tuesday, September 29 Consumer confidence numbers came in below expectations for September and the FDIC announced they will be asking banks for more money up front to defray the costs of almost 100 failures this year. Put together, the reports were disruptive for traders and resulted in a mild decline on the S&P 500 (.INX) and the Dow Jones Industrial Average (.DJI). The news was not all bad. The housing news losing streak was broken with a report that housing prices across the major markets are rising. Rising home prices (the source of most individual wealth) is critical to a longer term economic recovery. Dive Deeper Into Today's Market Lessons: - Why Investors Care About Consumer Confidence
- Profiting from Rising or Falling Home Prices
- Does the FDIC Insure Brokerage Accounts?
Preparing for Tuesday Wednesday is going to be an exciting day in the stock market. Keep your eyes on the earnings announcements for the following companies: - Diamond Foods (DMND) - Actuant Corporation (ATU) You should also watch the following economic & market announcements: - ADP Payroll Report
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