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Sep28
Stocks tread water on final day of quarter

The final day of the quarter has been a very quiet and non-eventful one thus far. The Dow is higher by 2 points, while the Nasdaq is down by one and the S&P by 2 points. The economic data out this morning was actually fairly strong, with consumer spending coming in stronger than expected and the PMI also coming in strong. Most of the day the market has shown some slight losses as investors worry this news lowers the chances of further Fed rate cuts. nyse%20trading%20floor.jpg

The stocks that have done well for the entire third quarter are the strongest again today, while laggards continue to slip.

Monsanto Company (NYSE:MON) shares are higher by 2.19% as part of a strong chemicals group. Gold stocks are strongly higher thus far today, with Barrick Gold (NYSE:ABX) higher by 4.49% and Yamana Gold (NYSE:AUY) higher by 2.43%. Potash Corporation (NYSE:POT) shares are surging nearly 5%, reaching the $109 level after starting the third quarter at just $75 a share.

Major retail stocks are mostly higher on the day so far. Macy's Inc. (NYSE:M) is gaining 1.97% after announcing today that 28 of its stores will get solar electric power systems. Kohl's Corporation (NYSE:KSS) is higher by 1.85% on the day. Target Corporation (NYSE:TGT) is higher by 2.64% on strong volume today, rebounding from its losses of earlier this week.

United Healthcare (NYSE:UNH) shares are lower by 2.31% after the company lost Medicare bids and will likely lose up to 650,000 members. Humana Inc (NYSE:HUM), which have fared far better than UNH over the last few months are also lower by 1.93% on the day.

Sometimes Friday afternoon trading can get a little hectic, and sometimes it can be downright boring, and today looks like it may be the latter. The volume on the major exchanges is very light today and the volatility has been extremely low.

It appears as if both the buyers and the sellers have put their moves on hold and will wait for another day.


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