Written by LTN’s Senior Analyst – The Bull Rested after a four-day rally that drove the three major US stock indexes to close on Tuesday at their highest levels in Nine + months.
Re-cap of the US Stock Market Action for August 5, 2009
US stocks took a breather Wednesday after a four-day rally that drove the three major US stock indexes to close on Tuesday at their highest levels in Nine + months.
AIG, covered in Stock Talk earlier this week, closed up 62.7% to US$22 ahead of the company’s Q-2 earnings on Friday.
The DJIA closed minus 39.22 pts, or 0.42% at 9,280.97, the S&P 500 gave up 2.93 pts, or 0.29%, to close at 1,002.72, the NAS lost 18.26 pts, or 0.91%, to end the session at 1,993.05.
There was positive data early in the session as the US Commerce Department said new orders received by US factories unexpectedly rose in June, advancing for a third-straight month.
Volume and Breadth: Trade was active on the NYSE, with 1.88B/shrs changing hands, above last year’s estimated daily average of 1.49b/shrs, and on the NAS, about 2.41B/shrs traded, above last year’s daily average of 2.28B/shrs. Decliners outnumbered advancers on the NYSE by a ratio of 8 to 7, while on the NAS, more than eight stocks fell for every five that rose.
Stocks to Watch Today
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Disclosure Long BRK.A LVS WYNN