Monday, March 08, 2010

CLOSING BELL

Dow 10552.52  -13.68, Nasdaq 2332.21  +5.86, S&P 1138.50  -0.20 

A lack of market-moving headlines and other trading catalysts made the markets trade in a tight trading range with low volume today. In fact the NYSE had what was this year's second-smallest level of volume.

Even the dollar which had been down roughly -0.4% at its session low didn’t do much to cause traders to jump in and recovered later in the day to finish flat.

Large cap stocks helped the Nasdaq close higher today.  Research In Motion (RIMM) 73.39 +3.89, +5.60%, Cisco (CSCO) 26.13 +0.92, +3.65% had a good day and  Apple (AAPL) 219.08 +0.13, +0.06% hit a 52 week high today at 220.09 before pulling back.

McDonalds (MCD) 65.12 +1.45, +2.28% also hit a 52 week high today at 65.75 before pulling back.  The move was on news that global sales rose +4.8 percent in February, topping some analysts’ estimates, as demand in Asia countered snow-hampered results in the U.S.

Advancing Sectors: Telecom +1.1%, Consumer Discretionary +0.4%, Tech +0.3%, Financials +0.2%

Declining Sectors: Industrials -0.5%, Health Care -0.4%, Consumer Staples -0.4%, Energy -0.2%, Materials -0.1%, Utilities -0.1%

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