Lackluster, choppy trading was the order of the day, just one day after a powerful upthrust off the July low. At the close, the S&P 500 shed a modest 0.07% to close at 1325.84, while the DOW and Nasdaq fell 0.12% and 0.43% respectively.
Economic data was very light, but earnings reports are in abundance.
Perhaps the most notable company to report today was Apple, which reported a stunningly successful quarter that pushed
Bull flag breakout - Stocks rallied sharply yesterday on strong earnings and progress in the debt ceiling negotiations. We saw a 202-point gain in the Dow, and strong earnings after the bell yesterday should help with possible positive follow-though this morning... Current Daily Market Commentary Market Commentary for 7/20/11
Yes, we saw many positive earnings reports today (that's not a surprise), and we saw some positive economic data too. And even debt ceiling talks seemed to strike a positive chord today (although nothing has been agreed upon by any means). It all added up to a relief rally that was really due anyway as a result of the oversold condition from yesterday, and to an extent, the losses from last week.
So stocks soared right at the open and closed
Updated 07-19-2011 at 09:08 PM by coolhand
Signs of a breakdown showing, but... - As the overnight futures indicated, stocks opened sharply lower yesterday morning, and while there was no immediate bounce off of the emotional Monday morning gap down, buyers stepped in with a modest push higher in the afternoon... Current Daily Market Commentary Market Commentary for 7/19/11
The broader market tagged new July lows today, while gold hit a record price of almost $1,608 an ounce as economic fears in the EU and here at home continue to plague global markets.
At the open, the major averages gapped significantly lower and never seriously made a run higher the entire trading day. By the close, the S&P 500 had fallen 0.81% to 1305.44, while the DOW and Nasdaq dropped 0.76% and 0.89% respectfully. Those closing prices