Wall Street has little confidence in a rebounding U.S. economy

Posted By on June 29, 2010

The Dow Industrials closed down 2.6% or 270 points to 9870.30 on Tuesday afternoon. The Nasdaq stay in step down 3.85% to 2135 and S&P 500 closed at 1041.24, hittingdjia100629 its low for the year.

A report indicating consumer confidence was way down in June had investors’ concerned about the overall global economy.  Investors headed to safer assets which sent the dollar and gold higher. The rise also pushed Treasury yield on the 10-year note below 3% – the lowest level in more than a year.

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Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.