Stocks Finish Flat
TradingMarkets
Futures Support and Resistance levels are now
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Stocks turned in a rather poor
performance considering the positive economic data and further drop in crude
oil. All the major averages opened higher, before extending gains
immediately after the release of New Home Sales data. However, stocks spent the
rest of the day slowing giving back the gains to post mild losses in the NASDAQ
indexes, while the Dow and S&P 500 closed flat.
In economic news; Durable Goods Orders rebounded in October (report),
Consumer Confidence rose more than expected (report)
and New Home Sales jumped 13% to an annual rate of 1.42 Mln. units (report).
Go to our
Economic News section for reports and analysis.
The news sent Treasuries lower and the US Dollar Index sharply
higher. Energy prices had a volatile session, starting lower before
recovering to post gains at mid-day, then selling off into the close. Natural
Gas was the only contract to close higher but gave back much of its gains.
Gold closed above $500 an ounce, for the first time since
1987. Platinum hit $1000 an ounce yesterday, the highest level since 1980.
| Dow |
-2.56 | 10,888.16 |
| NASDAQ |
-6.66 | 2232.71 |
| S&P 500 |
+0.02 | 1257.48 |
| NYSE | NASDAQ | |
| Volume |
2,235,507,000 | 1,781,777,000 |
| Advances |
1957 | 1559 |
| Declines |
1346 | 1490 |
| Up Volume |
1053 | 751 |
| Down Volume |
1126 | 991 |
| New Hi’s |
123 | 103 |
| New Lo’s |
98 | 55 |
|
|
Weakest Sectors |
| Healthcare ( HMO | Quote | Chart | News | PowerRating) |
Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
| Chemical ( CEX | Quote | Chart | News | PowerRating) |
Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
| Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
Airline ( XAL | Quote | Chart | News | PowerRating) |
Ashton Dorkins
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