Market Roundup: Indices Eke Out Slight Gains for the Week

Money Talks Radio Show - Atlanta, GA

Indices closed in red territory on Monday as Technology brands sold off, dragging the Dow Jones Industrial Average down. The broader S+P 500 Index saw weakness in Energy and Telecommunications as well. The Dow rose to a new record close on Tuesday, with action dominated by corporate earnings. The S+P and NASDAQ shook off early choppiness and spent the trading session in positive territory. However, by the closing bell, both indices shed a portion of their daily highs, yet still closed with gains. Indices closed down on Wednesday. Many investors likely took advantage of elevated valuations, selling and recognizing profits. The day was also plagued with a string of disappointing earnings, creating one of the worst days for the market in several months. On Thursday, the Dow and S+P 500 Index traded into positive territory while the NASDAQ shed some points. In economic reports, initial jobless claims jumped up last week, as the Department of Labor reported new claims increased by 10,000 to 233,000, which was shy of an expected uptick to 235,000. Indices closed with gains on Friday, with Technology stocks among the leading advancers in the wake of favorable earnings details. Finally, consumer confidence ticked up in October as The University of Michigan's index hit 100.7, up 5.6 points from a September reading, marking its highest level since January 2004.