NEW YORK (2/27/12)--A Credit Union National Association (CUNA) economist was quoted in an Associated Press article that analyzed the recent Dow Jones industrial average flirtation with the 13,000 level and other market volatility.
The article, "Dow flirts with 13,000 again but can't make it," by Christine Rexrode, AP business writer, discussed the factors that have made the market rise, such as good news on U.S. job gains, and the influences that send the market downward, such as the rising cost of oil and gasoline.
The article points out that the stock market has not settled into an identifiable trend. In the 35 completed trading days as of Wednesday, the Dow Jones Industrial Average rose on 20 days and fell on 15 days.
"On Tuesday the world is ending, on Wednesday the opposite happens, after two or three weeks we're right where we started because not much happened," Bill Hampel, CUNA chief economist, told the AP.
To read the article, use the link.