Reply #46: 2:05 EST numbers and blather

[UpInArms]

Dow 10,587.85 -35.22 (-0.33%)
Nasdaq 2,086.70 -3.41 (-0.16%)
S&P 500 1,213.89 -3.07 (-0.25%)
10-Yr Bond 4.105 +0.27 (+0.66%)

NYSE Volume 1,069,426,000
Nasdaq Volume 914,826,000

2:00PM: Market still mired in relatively tight trading ranges, as the blue chip indices continue to outpace their Nasdaq counterparts to the downside... On the Dow, Boeing (BA 63.76 -0.86) leads the list of laggards amid reports that Air Canada has canceled a $6 bln order for 32 jets while a Banc of America upgrade has left shares of General Motors (GM 35.68) unchanged... Of the five components catching a bid, 3M Co. (MMM 77.19 +0.27), amid news of long-term clinical benefits for Aldara Cream, has been the best performer...NYSE Adv/Dec 1193/2015, Nasdaq Adv/Dec 1258/1660

1:30PM: Stocks continue to trade sideways as selling remains widespread across most areas... One area bucking the bearish bias, however, has been Airline... Even though oil prices have surpassed $59/bbl, initially weighing on a group where roughly 1/3 of total costs are tied to fuel prices, renewed buying interest has lifted the oversold AMEX Airline Index (+1.5%), which still trades nearly 9.0% off its June highs versus gains of 1.1%, 1.8% and 0.7% for the Dow, S&P and Nasdaq in the month of June...

Notable movers to the upside include CAL (+2.8%), JBLU (+2.7%), DAL (+2.2%), NWAC (+2.0%) and AMR (+1.5%)...NYSE Adv/Dec 1180/2013, Nasdaq Adv/Dec 1188/1708

1:00PM: Little changed since the last update, as the major averages continue to vacillate in roughly the same ranges... Meanwhile, Consumer Discretionary has been in focus following reports that the Dolan family, which controls Cablevision Systems (CVC 32.82 +5.95), plans to take CVC private for about $7.9 bln - about a 25% premium to Friday's closing price of $26.87...