Friday, October 25, 2013

Sluggish Session Sends S&P to All-Time Highs in Final Half-Hour

The headline tells almost the whole story. Stocks languished in a narrow trading range all day until doubling gains in the final half hour. There was absolutely nothing newsworthy by which to move stocks in any particular direction.

All hail day-traders and Mr. Janet Yellen. Oh, and Twitter, the money-losing company with an estimated IPO value of $16 billion.

Cheers.

Dow 15,570.28, +61.07 (0.39%)
Nasdaq 3,943.36, +14.40 (0.37%)
S&P 500 1,759.77, +7.70 (0.44%)
10-Yr Bond 2.50%, -0.02
NYSE Volume 3,102,796,500
Nasdaq Volume 2,119,699,000
Combined NYSE & NASDAQ Advance - Decline: 2948-2668 (breadth, anyone?)
Combined NYSE & NASDAQ New highs - New lows: 472-29 (mark-to-fantasy)
WTI crude oil: 97.85, +0.74
Gold: 1,352.50, +2.20
Silver: 22.64, -0.183
Corn: 440.00, -0.25

No comments: