Fed Reports: DJIA Market Close for Wednesday, August 29, 2012

The Dow closed up a whopping +4.49 (+0.03%) at 13,107.48. The Russell 2000 was the big index leader today moving higher by +0.44%.

There were 18 Dow components in the winning column today led by VZ (+0.98%), DIS, MCD, HD and MRK.

Losers were led by KO (-1.42%), UTX, CVX, KFT and AXP.

The government reports that the U.S. economy grew at a slightly faster pace in the second quarter.

The National Association of Realtors reported that pending home sales were at their highest level in two years.

The GDP revision, while better than expected at 1.7%, was still weak.

The dollar was up against the euro and Japanese yen, but fell versus the British pound.

Gold futures for December delivery lost $6.70 to $1,663.00 an ounce.

The price on the benchmark 10-year U.S. Treasury was up, pushing the yield up to 1.66% from 1.63% late Tuesday.

All in all, this was a lazy, summer session day, with investors waiting for “The Hole” and words from Ben Bernanke.

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