Reply #73: 1:25 EST and the joy and love have gone [View All]

[UpInArms]

Dow 10,314.96 -33.14 (-0.32%)
Nasdaq 2,063.12 -7.18 (-0.35%)
S&P 500 1,182.84 -7.26 (-0.61%)
10-Yr Bond 4.481 -0.08 (-0.18%)

NYSE Volume 1,221,147,000
Nasdaq Volume 828,932,000

1:00PM: The indices dig deeper as the Energy sector (-2.6%) suffers further selling pressure...

The Dow's 30 constituents are split, with half posting gains and the others trending lower. Of the laggards, General Motors (GM 29.42 -0.67), Altria (MO 73.85 -1.11), and Exxon Mobil (XOM 57.07 -1.77) top the list. While XOM's decline is correlated with crude's 0.7% slip upon reports that Tropical Storm Wilma has veered away from the refinery-rich Gulf Coast and the subsequent cue energy traders have taken in locking in more of the sector's year-to-date profit, the former two issues are heading south after recent run-ups. General Motors' shares soared yesterday after the auto giant announced its healthcare agreement with the United Auto Workers and the possibility of a GMAC sale, while Altria enjoyed buying attraction following a favorable court decision for the tobacco industry.NYSE Adv/Dec 1226/1911, Nasdaq Adv/Dec 1183/1655