Market Summary 6/22/2010

Stock Market Closing Prices – 6/22/10

Dow ( DJIA ) Close - 10293.52 -148.89
Nasdaq Stock Close – 2261.80 -27.29
S&P 500 Close – 1095.31 -17.89

Commodities Closing Prices – 6/22/10

Gold Close - 1240.20
Oil Close – 77.21
Natural Gas – 4.71

The Dow fell 149 points, Stocks slipped, giving up earlier gains in a very choppy session amid a worse-than-expected existing home sales report and the latest on the European debt crisis. The s&p 500 closed below the 200 day moving average which is bearish.

Trading volume has been weak, reflecting both light summer activity and a lack of conviction on the part of buyers.

Energy stocks slide despite a federal judge's ruling that the administration goes too far in halting drilling permits. Crude oil was down 61 cents to $77.21 a barrel.

Fed are meeting Tuesday and Wednesday with an announcement expected Wednesday afternoon regarding interest rates and the economy.

Futures trading suggests the market will open up slightly on Wednesday.

Economic Calendar Data - 6/23/10

New Home Sales - 10:00am EST
Crude Oil Inventories - 10:30am EST