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3:51 PM, Jul 6, 2009 --

  • NYSE down 5.2 (0.09%) to 5,770.
  • DJIA up 44.1 (0.5%) to 8,325.
  • S&P 500 up 2.3 (0.3%) to 898.71.
  • Nasdaq down 9.2 (0.5%) to 1,787.


GLOBAL SENTIMENT

  • Hang Seng down 1.23%
  • Nikkei down 1.38%
  • FTSE down 0.98%


UPSIDE MOVERS


(+) S gained as Barron's speculates on acquisition by Telefonica.

(+) CETV gets analyst upgrade.

(+) GERN says data support use of cells in vaccine applications.

(+) AXP gets analyst upgrade.

(+) DDUP trading above revised offer from EMC.

DOWNSIDE MOVERS

(-) DNR lowers production guidance.

(-) COP down as crude prices slip on economic worries.

(-) BT doesn't plan to use Phorm Inc. services.

(-) RGS plans offering, to close stores.

(-) LDK sees lower-than-expected Q2 sales.

(-) CPD cuts workforce.

MARKET DIRECTION

The Dow Jones Industrial Average and S&P 500 finished with narrow gains. The tech-heavy Nasdaq Composite lagged the broad averages, ending just in the red but also in the top of the day's range. An improved reading on the services economy softened a bit of the blow of last week's disappointing jobs report though bigger economic uncertainty continues to hamper the stock market.

The Institute for Supply Management's services index rose to 47 in June from 44 in May, beating the 45.5 expected from economists polled by Thomson Reuters. Still, Thursday's disappointing jobs report has raised some serious doubts about the speed and depth of any recovery.

Those economic concerns also sent commodities prices lower over worries of slow demand, cutting shares in the energy and materials sectors.

Crude ends down $2.68, or 4%, at $64.05 a barrel. The contract was trading at an eight-month high above $73 a barrel just last week.

Energy shares lead the market decline, including Chesapeake Energy (NYSE:CHK), ConocoPhillips (NYSE:COP) and aluminum-maker Alcoa (NYSE:AA).

Among the gainers:

Analysts upgrades lifted shares of American Express (NYSE:AXP) and Central European Media Enterprises (NASDAQ:CETV).

Data Domain (DDUP) gained to above EMC's latest 33.50-per-share offer.

Source: Monday's Closing Update