Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, June 07, 2011

Tuesday

Stocks dropped for a fifth straight day as investors turned downbeat late in the session following comments from Federal Reserve Chairman Ben Bernanke. The Dow Jones Industrial Average closed down 19 points or .2%. The blue-chip index had risen earlier in the session as much as 89 points. The late-day reversal came after Mr. Bernanke said the U.S. economy should pick back up in the second half of 2011 despite recent signs of weakness. He also added the recovery, two years after the end of the recession, remains "uneven, and conditions-particularly in the labor market-remain troubled." DJIA -19.15 Nasdaq -1.00 S&P 500 -1.23.