Halfway through earnings season and the Dow has tacked on nearly 600 points since the end of June, so, we're on pace for July - if the trend remains in place - for a gain of over five percent in just this month.
Didn't somebody say, "Sell in May and go away."
In this market, they're dead wrong.
After the close, Amazon (AMZN) reported a two cent loss on expectations of a five cent gain. Revenue was a small miss, but guidance for the next quarter was very soft. The stock was bouncing around in after-hours trade, down as much as four percent.
This remains a very dull market, despite the outsize gains.
Dow 15,555.61, +13.37 (0.09%)
NASDAQ 3,605.19, +25.59 (0.71%)
S&P 500 1,690.25, +4.31 (0.26%)
NYSE Composite 9,635.04, +29.98 (0.31%)
NASDAQ Volume 2,036,177,125
NYSE Volume 3,541,185,500
Combined NYSE & NASDAQ Advance - Decline: 3927-2584
Combined NYSE & NASDAQ New highs - New lows: 371-130
WTI crude oil: 105.49, +0.10
Gold: 1,328.80, +9.10
Silver: 20.15, +0.134
Thursday, July 25, 2013
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