The week was a good one, the quarter was a good one, but the day ended with small losses. The Dow closed lower by 17 points. The Nasdaq finished down by 8 and the S&P 500 by nearly 5. The volatility and the volume were both very low on the major exchanges today.
Interestingly, no major sector was up or down by more than 0.34% on the day, which speaks to the small moves in the overall market.
Some individual stocks did make some news, so on to the individual stocks we go.
Goldcorp Inc. (NYSE:GG) rose 3.03% as Gold surged higher on the day, trading above $750.
Yahoo Inc (NYSE:YHOO) shares rose 2.18% after announcing yesterday night that they will be reorganizing.
Hologic Inc (Nasdaq:HOLX) gained 3.57% on strong volume today, capping off a great week for the company's shares.
Wynn Resorts (Nasdaq:WYNN) shares fell by 5.64% after the company announced a new offering of $3.75 million shares at $158 a share. Las Vegas Sands (NYSE:LVS) shares fell 2.61% on the day. These casino and gaming stocks have had a tremendous run recently, gaining upwards of 25% in the past month.
Though the action was light and moves were small, there were some notable new highs and lows I wanted to report today.
New 52 week highs
- CVS Caremark (NYSE:CVS) finished fractionally higher, but hit an intraday 52 week high.
- PepsiCo (NYSE:PEP) finished higher by 0.88%, spiking in the last hour to hit a new high.
- Bunge Limited (NYSE:BG) part of the amazing agricultural run of late. The stock gained 1.96% today.
- Aetna Limited (NYSE:AET) hit a new high after authorizing a buyback.
52 week lows
- Akamai Technologies (Nasdaq:AKAM) Hit a new 52 week low in the morning and then rallied to finish 1.59% higher on the day.
- CarMax (NYSE:KMX) lost 1.21%, has fallen more than 25% in the past 3 months.
The third quarter was a choppy one, with some major losses occurring in late July and much of August. The quarter actually finished with some pretty nice gains, despite the major pullback in the middle of the summer. The Dow finished the third quarter higher by 3.6%, the Nasdaq by 3.8%, and the S&P 500 by 1.6%.
Today's losses came with extremely low volume as the NYSE reached only 1.34 million shares traded on the day. There really wasn't much selling pressure, but there were very few buyers out in the markets after their recent run. I don't think that much should be made of today's trading action with the lack of volume. Next week will likely be a much more telling sign of where things are, as corporate earnings reports will come in faster beginning next week.
Have a great and safe weekend!
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