Monday, April 19, 2010

CLOSING BELL

Dow 11092.05  +73.39, Nasdaq 2480.11  -1.15, S&P 1197.52  +5.39 

The markets ended the day in mixed faction.  In early morning trading it looked like the market was going to close the day in negative territory, then financials started to rally helping the S&P and Dow to close to the plus side.  Financials closed the day up +1.1%.

Goldman Sachs (GS) 163.32 +2.62, +1.63% closed to the up side, after it became known that the SEC charges of fraud were only secured with a 3-to-2 vote.  Additionally, many are now questioning the timing of the charges which comes just before debate on the financial regulatory bill. Now many are calling the moves against Goldman and possibly other firms a political move directed by democrats and the white house to push for public support for the bill.

Citigroup (C) 4.88 +0.32, +7.02% had a nice day after the company posted earnings that beat Wall Street estimates.

The CRB Commodity Index fell -1.1%.  Oil prices were fell -2.2% lower to close at $81.45 per barrel, which was the third straight loss for crude oil.

Advancing Sectors: Financials +1.1%, Telecom +1.1%, Health Care +0.8%, Consumer Staples +0.4%, Consumer Discretionary +0.3%, Materials +0.2%, Tech +0.2%, Utilities +0.2%, Energy +0.2%
Declining Sectors: None
Unchanged: Industrials

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