SmarTrend Market Close Wrap-Up -- September 30, 2011

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Personal Finance Company . The major US equity indices closed lower Friday, despite a better-than-expected reading on consumer sentiment. Thomson Reuters/University of Michigan reported that its consumer sentiment index rose to 59.4 in September, recovering from a nearly three-month low of 55.7 in August. The Commerce Department reported that personal income declined in August and consumer spending slowed. Personal income fell 0.1%, which is the largest decrease since October 2009, while consumer spending rose 0.2% during the month, following a 0.7% increase in July. Adjusted for inflation, consumer spending was flat. Economists expected a flat reading for income and a 0.1% gain in spending. In corporate news, Eastman Kodak (NYSE:EK) is weighing options, including a bankruptcy filing, due to concerns raised by possible bidders for its patent portfolio. Potential buyers of the patents are reluctant to proceed because of concerns that a purchase could amount to a fraudulent transfer if Kodak becomes insolvent. Shares of the company closed down almost 54% to VideoDescription.78 on the news. The Dow Jones Industrial Average (DJI) closed 2.16% lower at 10.913.31, the S&P500 (S&P 500 INDEX,RTH) closed 2.50% lower at 1131.40, and the Nasdaq Composite (IXIC) closed 2.63% lower at 2415.40.

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