The Dow Falls 7 Points, Nasdaq Adds 6

The Dow fell 6.89 points today to close at 12,416.60, the Nasdaq added 5.63 points to close at 2,443.83, and the S&P 500 fell 0.73 points to close at 1,412.11. This afternoon, Apple (Nasdaq: AAPL) announced the introduction of the iPhone, which sent shares trading to an all-time high. The news also sent competitors Research In Motion (Nasdaq: RIMM), Palm (Nasdaq: PALM) and Motorola (NYSE: MOT) tumbling. Separately, Oil fell $0.45 to close at $55.64, but pared early losses of over $2.00.

Volume was modest with 3.15 billion shares trading on the NYSE and 2.23 billion trading on the Nasdaq.
Advancers topped Decliners by a margin of 18:14 on the NYSE and 15:15 on the Nasdaq.

In Individual stories, Beacon Power (NASDAQ: BCON) closed 24.8% higher after announcing that the California Independent System Operator (California ISO), a not-for-profit organization that manages the flow of electricity along California's open-market wholesale power grid, has certified Beacon Power's flywheel technology for use as a frequency regulation resource in the state. Escala Group (NASDAQ: ESCL) fell 41.3% after the Company received notification that the NASDAQ Listing Qualifications Panel has determined to delist the Company's common stock from the NASDAQ Global Select Market, effective at the open of business on January 10, 2007.

Tomorrow, investors will be looking for economic data on Oil Inventories, Wholesale Inventories and Trade Balance. Earnings reports are expected from Ashworth (Nasdaq: ASHW), Genentech (NYSE: DNA) and Shaw Group (NYSE: SGR).

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