The Federal Reserve's cautious Beige Book may have been a small catalyst to keep a lid on the market, but the real weakness was after the 10-Year Treasury auction came in very weak and 10-year Treasury rates flirted with 4%. Higher draw-downs in oil inventories also kept energy prices higher. Here were today's unofficial closing bell levels:Dow 8,739.02 -24.04 (-0.27%)
S&P 500 939.15 -3.28 (-0.35%)
Nasdaq 1,853.08 -7.05 (-0.38%)
Top Analyst Upgrades
Top Analyst Downgrades
Level 3 Communications Inc. (NASDAQ: LVLT) saw a flurry of afternoon trading after reports of a possible Sprint joint venture. Shares were up over 15% at $1.30 in late-trading ahead of the closing bell.
The Home Depot (NYSE: HD) gave guidance which was well received at its annual meeting for holders. Shares were up most of the day, but rolled over with the market today and the stock was down 0.3% at $24.26 in late-day trading.
Advanced Micro Devices Inc. (NYSE: AMD) actually gained market share against Intel Corporation (NASDAQ: INTC) during the first quarter of 2009. AMD shares were up almost 2% at $4.84 and Intel shares were down 0.6% at $16.31 shortly before the closing bell.
SEQUENOM Inc. (NASDAQ: SQNM) gave back much of yesterday's move as many figured that no new news from the company likely means that yesterday's rumors of legal settlements or some remedies to data handling errors are probably just rumor rather than fact. SEQUENOM stock was down 18% at $4.34 late in the day.
Dell Inc. (NASDAQ: DELL) showed solid gains today, which was a bit surprising considering the news. The company priced $1 billion in notes in its cash raising efforts. Shares were up nearly 2% at $12.82 at the end of the day.
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
Reader Comments (Page 1 of 1)
6-11-2009 @ 12:23AM
Chaim Kimelblat said...
The actual Stock Market top (where we are now) has been zigzagging too much.
But the charts warn that any time soon comes the plunge DOWNWARDS.
Schpekulant Suggestions:
1.Keep your money in a safe place. Examples?
Cash
Low-expense Bond mutual funds
Investment-grade bonds
Short and long term Government Bonds
2.Resist temptation to buy stocks just because they look very cheap.
3.Wait. (For many traders and investors this is the most difficult)
Remember you have been warned……….
Remember also that this is just a suggestion, everyone is responsible for his own
investment decisions…. YOU have to take care of your own money.
Chaim Kimelblat aka Schpekulant@gmail.com
Listen with your Brain