Market Summary 8/24/2010

Stock Market Closing Prices – 8/24/10

Dow ( DJIA ) Close - 10040.45 -133.96
Nasdaq Close - 2179.76 -35.87
S&P 500 Close – 1051.87 -15.49

Commodities Closing Prices – 8/24/10

Gold Close - 1231.80
Oil Close – 71.41
Natural Gas – 4.05

The Dow dropped 134 points to 10040.

Investors started selling after they took one quick look at today’s report on existing-home sales. Volume, however, was light.

With today's pullback, the Dow rejoins the S&P and the Nasdaq in a correction, commonly defined as a fall of 10% or more from a recent high. The Dow is off 10.4% from its April high, with the S&P 500 off 13.6% and the Nasdaq off 16.1%.

Crude oil dropped $1.47, or 2%, to $71.63 a barrel. Interest rates continued to fall. Gold, however, settled up $4.90 to $1,233.40 an ounce.

Economic Data: August 25, 2010

U.S. durable goods orders for July. 8:30 a.m.
U.S. new-home sales for July. 10 a.m.

****What the Durable Goods Orders Report Measures ? ****
http://useconomy.about.com/od/economicindicators/p/Durable_Goods.htm