CLOSING BELL

Dow 9774.02  -96.28, Nasdaq 2109.24  -25.94, S&P 1030.71  -10.53 

Stocks attempted to erase some of the losses suffer yesterday, but in the final hour of trading things turned negative.

Some of the early gains were due to news that the financial reform bill's language regarding some $19 billion in new fees and taxes was removed. This allowed the financial sector to gain +1% in the early going, but the gains could not be maintained and the sector ended the day with a -1.1% loss.

A disappointing ADP Employment Change Report was released today, which showed that private payrolls for June increased by just 13,000 when economist had estimated a 60,000 increase.

Trading volume had been rather slow until the stock market's late slide caused an increase in trading so that share volume on the NYSE surpassed 1.4 billion shares.  Trading volume is expected to climb tomorrow as money managers make end-of-month and end-of-quarter portfolio rebalances.

Advancing Sectors: None
Declining Sectors: Technology -1.6%, Materials -1.3%, Telecom -1.3%, Consumer Discretionary -1.2%, Financials -1.1%, Consumer Staples -0.8%, Health Care -0.8%, Utilities -0.7%, Industrials -0.6%, Energy -0.6%