Monday, May 24, 2010

Pre-Market Updates 24/05/10

The market was so volatile on Friday that Dow Jones was off some 30 points perhaps a half-hour before the close. Then, late buyers. seemingly out of nowhere, suddenly and powerfully appeared, pushing the blue-chip index to a gain of 125 points, or 1.3%, at 10,193

The 10 sectors of the S&P500 all moved higher, with financial stocks the leaders, followed by materials and consumer discretionary stocks. The S&P500 was up 16 points, 1.5%, to 1,088, and the Nasdaq rallied to a close of 2,229, up 25 points, or 1.1%.

For the month, the Dow is off 7.4%, with the S&P down 8.3% and the Nasdaq off 9.4%. The Dow is now down 2.3% for the year. The S&P500 is off 2.5%, and the Nasdaq is off 1.8%

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