[August 02, 2011] SmarTrend Midday Market Recap -- August 2, 2011 (DJI,INX,IXIC) Tweet Aug 02, 2011 (SmarTrend(R) Market Commentary via COMTEX) -- Last updated August 2, 2011: 12:30 PM ET --- The major U.S. equity indices are trading lower Tuesday as investors continue to be concerned over the health of the recovery. The Commerce Department reported that consumers trimmed their spending in June for the first time in almost two years. The U.S. Senate on Tuesday approved legislation that would increase the debt ceiling and reduce planned budget deficits. By a 74-to-26 vote, the Senate approved legislation that would increase the $14.3 trillion debt limit by up to $2.4 trillion in two stages and also reduce deficits by $2.1 trillion over a decade. The Dow Jones Industrial Average (DJI) is trading 1.22% lower at 11,984.68, the S&P500 (INX) is trading 1.49% lower at 1,267.74, and the Nasdaq Composite (IXIC) is trading 1.36% lower at 2,707.41. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]