Stocks pull back from last week's record highs

Stocks retreated from all-time highs, as investors reassessed Thursday’s stronger than expected jobs report and await Q2 earnings reports that start trickling in this week.

Only defensive sectors such as utilities, telecoms and consumer staples finished with modest gains, while the Nasdaq (-0.7%) and Russell 2000 (-1.7%) lagged far behind, hurt down by losses in biotech and Internet companies.

Participation again was low, with fewer than 600M shares changing hands at the NYSE, but participants showed some increased demand for volatility protection, which sent the VIX from seven-year lows into the middle of its range from June.

Treasurys rebounded from overnight losses, with the benchmark 10-year note adding five ticks to send its yield lower by two basis points to 2.61%.

Comments (3)
  • Apple Diner
    , contributor
    Comments (306) | Send Message
    Apple hit a new 1-year high, which is nice.
    7 Jul 2014, 09:47 PM Reply Like
  • tjn6175
    , contributor
    Comments (46) | Send Message
    Nasdaq 100 fared a whole lot better. Better than the SP500 today. Does this hint Apple and the momos move up on 2nd Qtr earnings? A guess, but I think so.
    7 Jul 2014, 10:16 PM Reply Like
  • John Georgiou
    , contributor
    Comments (234) | Send Message
    July maybe perfect for a small correction so traders that have cash re-invest again.


    more to
    8 Jul 2014, 07:23 AM Reply Like
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