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4:20 PM, Jul 2, 2010 --

Here's where markets stand at the close:

  • NYSE down 27.22 (-0.42%) to 6,434.81
  • DJIA down 46.05 (-0.47%) to 9,686.48
  • S&P 500 down 4.79 (-0.47%) to 1,022.58
  • Nasdaq down 9.57 (-0.46%) to 2,091.79


GLOBAL SENTIMENT

  • Hang Seng down 1.11%
  • Nikkei up 0.13%
  • FTSE up 0.67%


MID-DAY NYSE INDEX WATCH

NYSE Energy up 0.47% at 9,360.21

NYSE Financial down 0.67% at 4,251.42

NYSE Health Care down 0.33% at 5,712.12

NYSE Arca Tech 100 down 0.24% at 840.49

UPSIDE MOVERS

(+) ARNA (+8.43%), higher on upgrade.

(+) MEND (+4.74%), being added to S&P SmallCap 600 Index.

(+) PT (0.00%), gets upgrade.

DOWNSIDE MOVERS

(-) HLX (-7.4%), down after updates on oil and gas divestments efforts and mid-year reserves.

(-) SNY (-3.2%), down after declining to comment on report it was preparing an
acquisition of $20 billion or more in the United States.

MARKET DIRECTION

Stocks end trading lower in a topsy-turvy last 15 minutes of trading that saw all major indices break into positive territory only to sink lower in a last minute slide.

Disappointing jobs data and a manufacturing report showed mixed signals about the economy and set the tone for the entire session.

Non-farm payrolls fell 125,000 in June. Economists polled by Thomson Reuters forecast employers cut 110,000 jobs. The unemployment rate fell to 9.5%, versus expectations for 9.8%. There also was an 83,000 increase in private payrolls in June, lower than economists estimated.

Meanwhile, the Commerce Department said orders for manufactured goods decreased 1.4% in May. It was the biggest drop since March 2009.

Allergan (NYSE:AGN) and Biogen (NASDAQ:BIIB) are higher as analysts speculate that Sanofi-Aventis (NYSE:SNY) might be interested in buying one of those companies. SNY declined to comment on Friday on a Bloomberg report that it was preparing an acquisition of $20 billion or more in the United States. SNY reportedly is actively looking for acquisitions to find new sources of growth as its own product pipeline is drying out and some research projects have been pulled.

Delta Air Lines (NYSE:DAL) and US Airways (LCC) plan to sue the government, claiming it has no power to block a deal to let them swap landing and takeoff slots at airports in Washington and New York. Regulators demanded the two airlines give some of the slots to rivals, MarketWatch reported. To get US Air slots at LaGuardia in New York, Delta wanted to trade its slots at Reagan National in Washington, according to the AP.

InterContinental Exchange (NYSE:ICE) is down despite reporting record futures volume and average daily volume (ADV) for Q2. Futures ADV increased 36%, including year-over-year growth of 24% for the month of June 2010. ICE also achieved record average daily commissions (ADC) of $1.43 million in its OTC energy business during the second quarter of 2010, up 26% from the prior Q2, it said.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) finished higher after Biglari Holdings (NYSE:BH) said it holds a 6% stake in the restaurant chain, MarketWatch reported.

Google (NASDAQ:GOOG) shares were lower on news the Internet search company plans to buy ITA Software, one of Web's key providers of airline travel technology, according to a Reuters report. The buy could potentially stoke antitrust concerns among regulators, the report said. Google reportedly says the move will improve the way consumers find flight information online.

BP Plc's (NYSE:BP) first relief well aimed at plugging its Gulf of Mexico gusher is seven to eight days ahead of schedule to intercept and eventually stop the biggest oil leak in U.S. history. The target for intercepting the leaking well and pumping in mud and cement to permanently seal it is still mid-August, U.S. National Incident Commander Thad Allen said today on a conference call with reporters. The well is within 600 feet (182 meters) of intercepting the leak, he said.

Crude-oil for August delivery ended down 1.1%, or $0.82, to $72.14 a barrel on the New York Mercantile Exchange. Gold for August delivery rose $1, or 0.1%, to $1,207.70 an ounce.

Source: In Equities, Topsy-Turvy Close Leaves Dow Losing Streak at Seven