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SOMX posts

Closing Bell: The dollar giveth and taketh away (AAPL, ABX, S, SOMX, NVDA, INTC)

Posted Dec 7th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: Apple Inc (AAPL), Sprint Nextel Corp (S), Barrick Gold (ABX)

Today was a light economic data and impact day for traders, yet many stocks and sectors were on the move. The strong dollar took a bite out of gold and took a bite out of oil. The notion that the government trimmed its loss expectations from what it expected in the bank and financial firm bailouts was hardly noticed in the financial sector today. We also had Ben Bernanke caution that it was too early to declare a victory in the recovery being a lasting one.... In short, rates won't be raised any time soon yet. Frankly, with how the markets whipped around, a closing bell being up or down was not something known directionally until the final minutes of the morning.

Here were today's unofficial closing bell levels:

Dow 10,388.97 +0.07 (0.00%)
S&P 500 1,103.17 -2.81 (-0.25%)
Nasdaq 2,189.22 -5.13 (-0.23%)

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Continue reading Closing Bell: The dollar giveth and taketh away (AAPL, ABX, S, SOMX, NVDA, INTC)

Closing Bell: Dubai almost stole the day (AMZN, LVS, AIG, SOMX)

Posted Nov 30th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: Amazon.com (AMZN), Amer Intl Group (AIG), Las Vegas Sands (LVS)

Today's bits of economic activity hardly mattered in the grand scheme of the markets. Traders were watching more out of Dubai and the U.A.E. than they were watching what Federal Reserve districts had to say today. Iran also sent oil prices higher by detaining a British cruising race yacht and five Britons, and the added political fallout added to the gains in oil today. Stocks were weak for most of the day, but Dubai comments that $26 billion needed to be restructured (rather than $60 billion) helped in the final hour of the day.

Here were today's unofficial closing bell levels:

Dow 10,295.11 -14.81 (-0.14%)
S&P 500 1,095.63 +4.14 (0.38%)
Nasdaq 2,144.60 +6.16 (0.29%)

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