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Reply #27: 2:32 update - Doesn't look like it was worth opening shop today for the [View All]

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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-16-04 02:35 PM
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27. 2:32 update - Doesn't look like it was worth opening shop today for the
Edited on Wed Jun-16-04 02:35 PM by 54anickel
markets. Treasury folks would have done well to have just stayed home.

Dow 10,377.73 -2.70 (-0.03%)
Nasdaq 1,996.61 +1.01 (+0.05%)
S&P 500 1,133.22 +1.21 (+0.11%)
10-yr Bond 4.721% +0.035
30-yr Bond 5.406% +0.033


NYSE Volume 798,614,000
Nasdaq Volume 954,121,000

2:00PM: Range bound trading persists on the broader averages with the S&P slightly outperforming the Nasdaq and the Dow...Small and mid-caps are showing similar signs of complacence with small-caps slightly outperforming...There are no additions to the list of leaders/laggards as volume continues to dry up on lack of conviction...Fed's Beige Book is due out at 2 ET and may offer some stimulus for a breakout as traders will likely analyze the verbiage looking for clues on the upcoming rate hike ...

Tomorrow offers a handful of economic data including PPI, initial claims, leading indicators and Philly Fed which should provide some added volatility to a market seemingly content with sideways trading...NYSE Adv/Dec 1595/1597, Nasdaq Adv/Dec 1505/1502

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