Butt Ugly Close; Futures Selloff Continues After Equity Close
Mercy! What a close!
However, being the ever-optimist, I prefer to look at the bright side of things. Get your party hats ready. Another DOW 10,000 party may be on the way.
Equity Closing Snapshot 3:00 PM Central
ES = S&P 500 Futures NQ = Nasdaq 100 Index Futures $COMPQ = Nasdaq Composite Index $SPX = S&P 500 Cash Index $NDX = Nasdaq 100 Cash Index DUG =Double Inverse Energy ETF
S&P 500 Cash Index was down 5.34% Dow Cash Index was down 5.44% Nasdaq Composite Index was down 6.86% Nasdaq Cash Index was down 6.07%
Futures Closing Snapshot 3:15 PM Central
Nasdaq Index Futures sold off another 19 points in the extended futures trading session. 147.25 points total.
Good News: S&P 500 futures only sold off an additional 5 points in the extended session. Optimists like me can always find something to cheer about.
Obama Saves 100 Dow Points
I am pleased to report that I am not the only one who looks on the bright side. InstaPundit comments ...
"Dow Finishes Down 634 Points. Obama's speech certainly did nothing to slow the drop, though I suppose the White House will argue that it would have been 734 without the speech, meaning that Obama saved or created 100 Dow points . . . ."