Dow Slips 46 Points, Nasdaq Down 19
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- Dow Slips 46 Points, Nasdaq Down 19
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The Dow lost 46.26 points (-0.42%) to close at 11,069.06. The Nasdaq lost 19.40 points (-0.85%) to close at 2262.96 and the S&P lost 4.20 points (-0.33%) to close at 1,283.04. The market trends were negative most of the day as profit takers cashed in on last week’s gains. Also, FOMC minutes kept investors on the sideline as fears of continued rising interest rates loomed. Volume was modest with 1.6 billion shares trading on the NYSE and 1.8 billion on the Nasdaq. Decliners outpaced advancers by a margin of 17:16 on the NYSE but decliners topped advancers by a margin of 19:12 on the Nasdaq. In individual stories, Able Energy (Nasdaq: ABLE) closed 36.1% higher today after announcement of optimization of supply chain renewable fuel products. On the downside, I-FLOW Corp (Nasdaq: IFLO) was 12.9% lower after the company reported disappointing Q4 results. Tomorrow, traders will be looking for data on CPI and core CPI due at 8:30 A.M (EST). In addition, oil inventories are due to be reported at 10:30 A.M.
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