It was another volatile trading session on 12 September 2008 over at Wall Street. Dow Jones Industrial Average Index, DJI opened in the reds but managed to pull back to the recovery zone slightly in green.
A midday V-Formation was again witnessed in this trading session. This seems to be happening often these days. During the time of this post, DJI is slightly in the red, mixed with a drop by 3.58 points with DJI at 11,430.13.
Before the trading bell rung, US Commerce Department had reported that retail sales figure had fell by 0.3 percent in the month of August 2008. This led to the believe by investors broadly that consumers in the States are not spending, keeping their spending tightly restraint.
Apart from the retail sales figure, Lehman Brothers Inc remained to be the key market interest. The price of Lehman had went downwards significantly. Many investors are turning their attention to speculate if there will be any rescue plan for this company like the more fortunate Fannie Mae and Freddie Mac.
Wall Street is likely to remain mixed as there may be investors snapping up stocks which are really attractively priced.
The above are of personal opinion and not at all an inducement to trade.