29 October 2013

SP 500 and NDX Futures Daily Charts - IBM to the Rescue On October 29

Weak economic news was a drag on stocks for most of the day.

During the trading day IBM announced a big addition to their stock buyback program.

IBM helped to push the Dow and the SP higher, and turned a poor day into another drift higher.

Tomorrow we will get the FOMC rate decision.

Nothing new is expected.

Today was the 84th anniversary of Black Tuesday, 29 October 1929.