U.S. TRADING SUMMARY: U.S. stocks were mixed in early afternoon on
Thursday, with strength in the oil sector leading a recovery after
the market fell to some key support levels. More important to some
analysts than the recoveries on the Dow was one by the S&P 500
index, which was at 1309 after brushing below the psychologically
important 1,300 level and quickly recovering for the second
straight session. "It's crucial that the market remains above that
1,300 level," said A.C. Moore, chief investment strategist at
Dunvegan Associates in Santa Barbara, Calif. If the S&P slips
further, its next support level is 1,265, and failing that, 1,120,
Moore said. The market is still awaiting the Oct. 5 policy-setting
meeting of the Federal Reserve to see if the group opts to raise
interest rates in order to slow the economy. |
