Re-cap of the US Stock Market Action for August 13, 2009
US stocks moved North yesterday as the US Federal Reserve said it saw signs of stabilizing US economy.
The DJIA gained 36.58 pts, or 0.39%, to close at 9,398.19, the S&P 500 added 6.92 pts, or 0.69%, to close at 1,012.73, and the NAS tallied up a + 10.63 pts, or 0.53%, to end the session at 2,009.35.
Stocks briefly extended gains at midday after a 30-year US Treasury bond auction was well received, providing a boost to confidence in US assets including stocks.
Financial stocks were in investors Headlights, a day after hedge fund manager John Paulson, who has made a fortune betting against financial companies after foreseeing the credit crisis, disclosed that he recently bought large stakes in several banks, including Bank of America. Bank of America’s shares gained 6.7% to US$17.00, and the KBW Bank index .
BKX gained 3.1% on the day.
Volume was low on the NYSE, with 777.2M/shrs changing hands, and on the NAS about 575.6M/shrs traded.
Advancers outnumbered decliners on the NYSE by a ratio of 3 to 2, and on the NAS about roughly 1 to 1.
Stocks to Watch Today
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