Stocks Mixed, AIG’s Success, Pharmaceuticals Fall
A lackluster, low volume market greeted investors on this first trading day of the new week. Drug markers fell as Obama’s health care reform was promoted hard. Good news that American International Group agreed to sell one its units kept the more bearish sentiment at bay during the session. The DJIA gave back -13.68 to 10552.52, the tech heavy Nasdaq eased higher by +5.86 to 2332.21 and the broad based S&P 500 slipped back -0.19 to 1138.50.
^AIG^: Climbed 3.63% or $1.02 to $29.10/share after agreeing to sell its American Life Insurance Company to Met Life.
^CSCO^: Advanced 3.65% or 92 cents to 26.13/share on a JP Morgan target price increase.
^MCD^: Stated that its comparable store sales beat analysts estimates sending shares higher by 2.28% or $1.45 to $65.12.
^RIMM^: Climbed 5.60% or $3.89 to $73.39/share after being raised to “outperform” at BMO Capital Markets.
Oil added 28 cents to $81.78, gold gave back $10.70 to $1125.00 and the VIX index added 2.12% to 17.79.
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