U.S stocks ended little changed on Thursday, as enthusiasm following positive jobs data wanes. According to NextCandle.com's forecast, U.S indices should finish mixed on Friday: the Dow was given a 64% probability of hitting a lower target, edging down from 13326.39 to 13326.12. On the other hand, the S&P 500 was given a 74% probability of hitting a higher target, rising from 1432.84 to 1443.90, and Nasdaq was also given a 74% probability of hitting a higher target, edging up from 3049.41 to 3078.08.
U.S shares remain poised
U.S. stocks ended little changed on Thursday, as investor enthusiasm over encouraging economic data died down. Trading should remain frugal and uneven for the next few weeks, as investors are increasingly reluctant to make any bold moves ahead of the November elections. Investors are also eyeing for more progress in Europe's debt situation, with Spain standing in the spotlight.
A stream of positive economic data that was released early Thursday morning lifted spirits within markets, and the major indices edged modestly higher. The figures indicated an unexpected drop in unemployment claims, which is not typical during the last week in September. Nevertheless, the outburst of enthusiasm rapidly waned.
Investors are still waiting for Spain's next move. In Europe, credit rating agency Standard & Poor's lowered its credit rating for Spain, which may force the debt-ridden country to seek a financial bailout. Many investors perceived the downgrade as positive impetus pushing Spain towards that direction.
Global markets move in different directions
European stocks closed with gains on Thursday: Germany's DAX pushed up 0.93%, France's CAC 40 shot up 1.28%, and finally Britain's FTSE 100 gained 0.92%. Across the Pacific, Asian stocks ended mixed on Thursday: the Shanghai Composite shed 0.80%, while Hong Kong's Hang Seng added 0.40. Japan's Nikkei is stuck in downfall, and posted another 0.50% loss.
Back on the domestic side, U.S indices closed practically flat on Thursday: the S&P 500 gained a minor 0.02%, from 1432.56 to 1432.84; the Dow shed 0.14% from 13344.97 to 13326.39. Finally, Nasdaq also retreated 0.08%, from 3051.78 to 3049.41.
Todays Forecast: Mixed Outcome for U.S indices
12 October 2012