Reply #30: 3:27 EST Markets "got languish"? [View All]

[UpInArms]

Dow 13,558.28 77.14 (0.57%)
Nasdaq 2,612.41 14.35 (0.55%)
S&P 500 1,521.26 12.44 (0.81%)
10-Yr Bond 5.123% 0.037

NYSE Volume 2,322,516,000
Nasdaq Volume 1,613,405,000

3:00 pm : The stock market continues got languish, bringing reminders that the summer doldrums also often bring a summer slowdown. The fact remains that almost all of the stock market gains the past fifty years have occurred in the months from November through April. May through October has produced almost no gain. May was a very good month this year, but traders may be thinking the summer could nevertheless prove problematic as a whole.

The 10-year yield at 5.12% and the lack of any concrete postive news has the market on the defensive. DJ30 -49.42 NASDAQ -9.87 SP500 -9.60

2:30 pm : The market is struggling to catch a bid right now as a lack of leadership, outside a handful of influential stocks, is weighing on the broader market.

The indices are sitting at their worst levels of the day.

On a comparative basis, the mid cap stocks are faring the best today. To wit, the S&P 400 Midcap Index is down 0.3% versus declines of 0.7% for the Russell 2000 and S&P 500, respectively.

DJ30 -62.19 NASDAQ -11.04 SP500 -9.97 NASDAQ Dec/Adv/Vol 1807/1159/1.31 bln NYSE Dec/Adv/Vol 2107/1128/1.01 bln

2:00 pm : After a brief bout of selling activity, the indices have settled down and are working to pare their losses.

While much has been made of Home Depot's (HD 40.79, +2.52) stock buyback announcement and the ensuing strength in its stock today, a glimpse at the Dow shows that Home Depot doesn't have much company on the winning side of things.

Presently, 20 of the 30 Dow components are trading with a loss. ExxonMobil (XOM 84.29, -1.55) is the biggest loser and is anchoring a weak energy sector today.DJ30 -27.56 NASDAQ -5.37 SP500 -6.64 NASDAQ Dec/Adv/Vol 1865/1092/1.20 bln NYSE Dec/Adv/Vol 2088/1133/925 mln