Monday, May 11, 2009

SP500 SPX SPY update 05/11/09pm - Free Stock Market Analysis

Here is the latest trading and free market analysis video on the SP500 (SPX) and SPY ETF

Dow -155.88 at 8418.77, Nasdaq -7.76 at 1731.24, S&P -19.99 at 909.24:
[BRIEFING.COM] Declining issues outnumbered advancers by 4-to-1 in the S&P 500 as profit-takers pressured stocks for the entire session. Financials felt the brunt of the selling effort, but strength in large-cap tech helped the Nasdaq outperform its counterparts.

There weren't any major earnings announcements or economic reports to act as positive catalysts for the stock market Monday. The dearth of data seemed to encourage a round of profit taking by participants who had watched stocks climb nearly 6% last week.

As has been the recent trend, financials were the best performers last week, which made them an easy target for sellers looking to lock in gains. In turn, the financial sector shed 6.8%, cutting into last week's 23% gain.

Diversified banks slipped 6.7% and regional banks dropped 8.5% after several companies announced plans to raise capital.

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