Courtesy of John Nyaradi.
Thursday’s global stock market activity demonstrated a reaction to the decision by the Federal Reserve’s FOMC against the September taper.
Wednesday’s unexpected decision by the FOMC to delay its plan to taper back the Federal Reserve’s bond purchases was the key factor 
impacting Thursday’s global stock market activity.
In the United States, investors took profits from Wednesday’s rally and watched stock prices decline, despite three upbeat economic reports.
Initial unemployment claims for the week ending September 14 rose less than expected, to 309,000 – despite economists’ expectations for 341,000 new claims.
The Philadelphia Federal Reserve’s September 2013 Business Outlook Survey indicated that its headline diffusion index of economic activity soared to 22.3 from August’s 9.3. Economists were expecting a reading of 10.0 for September.
The National Association of Realtors reported that existing home sales rose 1.7 percent in August, to a seasonally-adjusted annual rate (SAAR) of 5.48 million. Economists had been expecting a SAAR of 5.25 million.
The Dow Jones Industrial Average (NYSEARCA:DIA) lost 40 points to finish Thursday’s trading session at 15,636 for a 0.26 percent decline. The S&P 500 (NYSEARCA:SPY) dipped 0.18 percent to close at 1,722.
The Nasdaq 100 (NASDAQ:QQQ) advanced 0.20 percent to finish at 3,237. The Russell 2000 (NYSEARCA:IWM) declined 0.16 percent to end the day at 1,075.
In other major markets, oil (NYSEARCA:USO) fell 1.55 percent to close at $38.08.
On London’s ICE Futures Europe Exchange, November futures for Brent crude oil dipped 6 cents (0.06 percent) to $108.70/bbl. (NYSEARCA:BNO).
December gold futures fell $5.50 (0.40 percent) to $1,363.80 per ounce (NYSEARCA:GLD).
Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector
