http://www.estiloskateboards.com/zig-zags/
Markets zig-zag, but about the positive
After closing yesterday above their technical 200-day moving average, considered a great achievement for many investors, the S & P 500 posts a nominal gain of less than 5 points in the day nearly flat. The other major markets we leave early in the day, but pared their losses, as oil gained and gave natural gas.
Earlier today, BP announced that the company will suspend its dividend to $ 2.6b for the rest of the year and after a meeting with President Barak Obama, agreed to save $ 20B in cash in an escrow fund to compensate oil spill victims. Is it too little too late, or more than enough to cover the error giant oil spill summer? Let us know what editor@worldmarketmeda.com think, or post a comment below.
Despite the disaster, the energy sector in general trading in the positive side today while the government's housing data suggested continued weak demand countries could hinder our recovery. Construction of homes and apartments fell 10% from the previous month to an annual rate of 593K, significantly below the 650K economists had forecast.
In our Micro and nanocoating rates, some better performance included Magnago Augme Technology and Nautilus, as companies released positive news.
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Disclosure: no position
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