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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Steve Lee who started this subject11/7/2001 4:24:58 PM
From: Softechie  Read Replies (2) of 99280
 
Watch for consumer credit troubles...Dow -22, Nasdaq +10, S&P -0.80 : [BRIEFING.COM] Consolidative trading near the afternoon pullback lows has persisted for the last hour. The market reacted slightly on the negative side to the afternoon data but as of yet has not built on this weakness. Consumer Credit for Sep was reported at $3.2 bln. This was firmly above the consensus estimate with the previous month's data revised sharply higher (to $6.1 bln from $2.3 bln). The growth follows a contraction in both June and July as the growth pace has slowed dramatically from the $11.4 bln average pace over the first five months of the year. Credit growth is largely ignored by market traders but does serve as an indicator of potential rising household financing troubles. DJUA -1%... SOX +1%... DOT +4%...
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