The demand for the safety and comfort of U.S. Government backed securities increased as European leaders continue to contain their debt crisis (I know, major shocker). This led treasury 30-year bonds to increase for the first time in three days. This morning is chock full of economic information, headlined by GDP and jobless claims. Later in the day, the University of Michigan Confidence report for December is slated to be released and is expected to show a gain from 64.1 to 68.
What’s Up on Wall Street?
It was a quiet day at the stock market yesterday after Tuesday’s unbelievable rally. The Dow Jones Industrial Average rallied in the last hour of trading to jump 4.16 points (0.03 percent) and close with a gain. The S&P 500 rallied in the last hour as well to close up 2.42 points (0.19 percent). The Nasdaq Composite was the only index to see a loss yesterday and finished down 25.76 points (0.99 percent).
Eric Mally is a contributor for Quicken Loans’ Zing Blog. Stay connected with us on our Facebook page and our Twitter page to find out all the ways we’re Engineered to Amaze.
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