Here’s What Market Is Waiting For
Stocks traveled sideways Monday on the
major averages to close slightly off while market volume receded from
prior-session levels.
The Dow Jones industrials closed 0.1%,
the S&P 500 0.3% and the Nasdaq Composite 0.8%.
Traders appeared to take a breather
ahead of Cisco Systems’
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Producer Price Index reports come out on Friday. Cisco eased 2.0%.
The leading sector indexes for the day
were the AMEX Oil Index
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and the AMEX Pharmaceutical Index
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sub-1% moves. On the downside, the Goldman Sachs Internet Index
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gave up 2.6%, the AMEX Internet Index 2.2%, the Oil Service Sector Index
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1.9%, the S&P Retail Index
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Microsoft
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edging above a two-week consolidation range on below-average volume. ArQule
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which provide services and products used by genomics researchers, surged 12.1%
off a low, ascending triangle on mediocre volume.Â
Among the Dow stocks, winners included
Eastman Kodak
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maker of construction equipment said it is preparing to sell $1.1 billion of
debt, Reuters reported. Alcoa
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