SmarTrend Market Close Wrap-Up — September 22, 2011 (DJI,INX,IXIC)
Themajor US equity indices are trading lower Thursday as investors staged a flight from risk in global markets that sent US stocks to session lows in afternoon trading and put 10-year Treasury yields at 1940s levels, after a gloomy outlook by the Federal Reserve renewed fears of a global economic slowdown. The Labor Department reported today applications for jobless benefits decreased 9000 in the week ended September 17 to 423000. Economists had forecast 420000 claims, an expected steeper drop of 12000 from the previous weeks revised figure of 432000. This has been the fifth straight week more claims have been filed than expected. In corporate news, former eBay CEO Meg Whitman has been named the Chief Executive Officer of Hewlett Packard (NYSE:HPQ)