Is the recent week-long drop in the Dow a sign of what's ahead?
The Dow Jones Industrial Average index has been on a five-day losing streak and that has investors wondering if that’s a taste of what’s in store for October.
In the last week, the Dow has lost more than 360 points – 2.5% of its value. The biggest loser, Caterpillar, is down nearly 4% during this time period. Still, the index is up more than 16% this year.
Theoretically, the Dow Jones Industrial Average was created as, well, an average of 30 industrial companies. These days, it consists of more than a couple of financial services companies, fast food restaurants, and health-related stocks.
But, there was some good news yesterday for industrial companies which may have broader market impact. Orders for manufactured durable goods (cars, appliances, toys, and the like) rose 0.1% in August, according to the US Commerce Department. For the entireRead More »from This chart could spell trouble for the Dow