Markets zig-zag but close on the positive

Markets zig-zag but close on the positive

Following yesterday's technical close above its 200-day moving average, regarded as a great feat by many investors, the S&P 500 posts a nominal gain of less than 5 points on the mostly flat day. The other major markets we're off early in the day, but pared their losses as oil gained and natural gas gave.

Earlier today, BP announced the company will suspend its $2.6B dividend for the rest of the year and after a meeting with President Barak Obama, agreed to sock away $20B in cash into an escrow fund to compensate victims of the oil spill. Is it too little too late, or more than enough to cover the oil behemoth's summer spill blunder? Let us know what you think at editor@worldmarketmeda.com, or post a comment below.

Despite the mess, the energy sector was generally trading on the positive side today, while government housing data suggested continued weakened demand could hamper our countries recovery. Construction of homes and apartments fell 10% from a month earlier to an annual rate of 593K, strikingly below the 650K economists had predicted.

In our MicroandNanoCapindices, some top performers included MagnaGas, AugmeTechnologiesand Nautilus,as the companies released favorable news.

To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1858/post/markets-zig-zag-but-close-on-the-positive

Disclosure: no positions

About World Market Media:

WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor's Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.

POST COMMENT

Maverick Money Makers First Class Join - First Class Training Or Just Another Scam? TradeStation Group, Inc. (NASDAQ: TRAD) $307M (MarketCap) Extending Trader's Back-Testing Capabilities I Need To Make Some Fast Money - Why Some People Are Struggling to Make Money With Affiliate Marketing How Social Media Marketing is Used in Corporate America Niche Selling - 3 Easy Steps to Getting a Profitable Niche Market Online Within 30 Minutes Online Book Marketing - The 5 Things Authors Get Wrong Things to Consider for profitable Residential Property Investment Find Out About The Different Ways To Generate Profits On The Web Find The Best Penis Male Enlargement Pills On The Market Extenze Scam: The Truth About Making "Big" Becoming Better Do You Believe In The So Called Extenze Scam? Extenze Scam:The Downfall Of Male Enhancement Products? My Affiliate Marketing Story