The Bull’s rested again and the Market Trade was Light.
Re-cap of the US Stock Market Action for August 11, 2009
US Stocks slipped on Tuesday, but finished off their session lows on a bit of profit taking as the Bull rested.
The DJIA lost 96.50 pts, or 1.03%, to close at 9,241.45, the S&P 500 shed 12.75 pts, or 1.27%, to close at 994.35, and the NAS finished the day minus 22.51 pts, or 1.13%, at 1,969.73.
Gains in shares of Applied Materials Inc. accelerated Tuesday evening after the chip-equipment manufacturer’s quarterly forecast came in above expectations. It expects to return to profitability during the period, with per-share results to range from breakeven to 4 cents.
Volume was low on the NYSE, with 1.2B/shrs changing hands, below last year’s estimated daily average of 1.49B/shrs . On the NAS about 558.7M/shrs traded, well below last year’s daily average of 2.28B/shrs.
Decliners outnumbered advancers on the NYSE by a ratio of 3 to 1, and on the NAS equally 3 to 1.
Stocks to Watch Today
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