Monday, July 12, 2010

CLOSING BELL

Dow 10216.27  +18.24, Nasdaq 2198.36  +1.91,S&P 1078.75  +0.79 

Traders didn’t have much conviction today ahead of the Q2 kickoff of earnings season.  The uncertainty of earnings season kept many traders on the sidelines today.  Trading volume was pitiful with hardly 850 million shares traded on the NYSE. That's the lowest total this year.

The day saw choppy trading at best despite strength on the tech sector. Microsoft (MSFT) 24.83 +0.56, +2.31%Intel (INTC) 20.57 +0.33, +1.63%, Google (GOOG) 475.84 +8.35, +1.79%,


The materials sector saw weakness for almost all of the session. The sector fell -1.1% today as steel stocks -3.7% and diversified metals and miners shares fell -4.1% ahead of Alcoa’s earnings release.

The latest Treasury auction saw a $35 billion auction of 3-year Notes drew a yield of 1.06%. 

Advancing Sectors: Tech +0.7%, Utilities +0.3%, Consumer Staples +0.3%, Consumer Discretionary +0.2%
Declining Sectors: Materials -1.1%, Industrials -0.5%, Health Care -0.2%, Energy -0.1%, Telecom -0.1%
Unchanged: Financials

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