Reply #52: 3:06 EST numbers and blather [View All]

[UpInArms]

Dow 10,521.05 -19.88 (-0.19%)
Nasdaq 1,999.83 -5.84 (-0.29%)
S&P 500 1,182.80 +1.39 (+0.12%)
10-Yr Bond 45.00 -0.58 (-1.27%)

NYSE Volume 1,602,224,000
Nasdaq Volume 1,321,694,000

3:00PM: Renewed buying interest pushes the blue chip indices to early session highs as bond yields fall to their lowest levels of the day... With the commodities market now closed, and few other catalysts to push equities in either direction, investors have turned their attention to Treasurys... But the recent recovery effort seems to have stalled as modest weakness on the Dow and Nasdaq overshadow slim gains on the S&P, as crude oil prices still closed up more than 2.0% and above $55/bbl... NYSE Adv/Dec 2073/1205, Nasdaq Adv/Dec 1244/1762

2:30PM: Market improves its stance but still trades in split fashion... Health Care (-0.6%) has been under pressure after federal prosecutors subpoenaed three medical device makers regarding their relationships with orthopedic surgeons... Shares of Johnson & Johnson (JNJ 67.05 -1.00), Stryker (SYK 44.35 -3.08) and Biomet (BMET 35.52 -3.51) have plummeted as a result of the DOJ's probe, with the latter two joining BIIB (-9.3%) and ZMH (-7.8%) - which could also receive a similar subpoena - as today's four worst performing S&P components...NYSE Adv/Dec 1952/1296, Nasdaq Adv/Dec 1163/1838