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Reply #72: For the record, here's the closing info (Look at the poor buck) [View All]

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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 10:00 PM
Response to Original message
72. For the record, here's the closing info (Look at the poor buck)
Dow 9,749.99 -7.82 (-0.08%)
Nasdaq 1,914.04 -1.10 (-0.06%)
S&P 500 1,094.80 -0.94 (-0.09%)

10-yr Bond 3.972% -0.012
30-yr Bond 4.754% -0.007

NYSE Volume 1,377,640,000
Nasdaq Volume 1,613,553,000

Close: The major indices never could never get off the ground today as traders remained preoccupied with disturbing geopolitical developments, earnings reports, and currency trends... The dollar fell for its 9th day in a row - marking its longest drop since 2000 - as another record high for crude oil (reached in pre-market trading) suggested a slowdown to the US economy's growth rate... The Asian (Tokyo's Nikkei -1.8%) and European (France's CAC 40 -2.1%) indices sold off hardily due in part to this, and laid the groundwork for the US market's lower open...
Stocks traded in choppy fashion as conviction - as evidenced by the low volume totals - remained weak among traders... Worries about the impending Presidential election and the state of the Mideast (i.e. an ambush Saturday evening that killed 50 Iraqi troops) also kept buying interest in check... Banking, biotech, retail, telecom service, and household product all pressured the market to the downside - the latter due to a Q3 (Sept) earnings miss from Kimberly-Clark (KMB 59.03 -4.03)... Transportation, utility, and homebuilding, however, showed relative strength as it benefited from sector-specific developments...

Delta (DAL 3.78 +0.54) commented that it was near reaching a deal with its pilots union for $1 bln in concessions, TXU Corp (TXU 61.25 +8.44) raised its FY04/FY05 EPS outlooks and quarterly dividend, and September Existing Home Sales crept higher by 6% to 6.75 mln (consensus of 6.54 mln)...NYSE Adv/Dec 1722/1564, Nasdaq Adv/Dec 1667/1400

3:35PM : Indices continue to sport slight losses in what has been a quiet day of trade... The Dow, Nasdaq, and S&P 500 have traded in tight ranges of 68, 14, and 6 points, respectively, as momentum has waned on the part of bulls... Biotech, oil service, retail, telecom, and software have continued to post moderate losses, and have offset gains seen in airline, homebuilding, utility, and basic material... Utility itself has been strong off of TXU Corp's (TXU 60.08 +7.27) raised FY04 and FY05 EPS outlooks and increased quarterly dividend...NYSE Adv/Dec 1727/1517, Nasdaq Adv/Dec 1578/1454

3:00PM : Mixed market going into the last hour of regular session trading... Investors have preferred to hold the course today with questions lingering about crude oil, economic growth, earnings, and the state of Iraq... Corporate accountability also remains a concern, and is highlighted by the recent resignation of Marsh McLennan (MMC 26.44 -0.35) CEO/Chairman Jeffrey Greenberg... Speculation of such a resignation has swirled since Eliot Spitzer accused the company of rigging bids for corporate clients' insurance contracts in a lawsuit dated October 14...

Greenberg will be succeeded by newly named head of Marsh's insurance-brokerage unit, Michael Cherkasky...NYSE Adv/Dec 1765/1468, Nasdaq Adv/Dec 1556/1451

Advances & Declines
NYSE Nasdaq
Advances 1722 (49%) 1667 (51%)
Declines 1564 (45%) 1400 (43%)
Unchanged 177 (5%) 176 (5%)

--------------------------------------------------------------------------------

Up Vol* 664 (48%) 870 (53%)
Down Vol* 699 (50%) 711 (44%)
Unch. Vol* 17 (1%) 33 (2%)

--------------------------------------------------------------------------------

New Hi's 100 62
New Lo's 63 86


US Dollar avoiding 84.77 like the plague!

Last trade 84.87 Change -0.91 (-1.06%)

Settle 84.97 Settle Time 21:36

Open 84.91 Previous Close 85.87

High 85.11 Low 84.83

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