Dow Sinks 135, Nasdaq Drops 25
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The Dow lost 134.63 points today to close at 11,091, the Nasdaq lost 25.03 points to close at 2,130 and the S&P 500 losts 8.6 points to close at 1,265. Weaker-than-expected forecasts from 3M (NYSE: MMM) and AMD (NYSE: AMD) ahead of the upcoming earnings season kept buyers at bay today, even as slow job growth kept a halt in rate hikes on the table.
Volume was light today with 1.4 billion shares trading on the NYSE and 1.8 billion on the Nasdaq. Decliners outpaced advancers by a margin of 20:12 on the NYSE and 22:9 on the Nasdaq.
In individual stories, Radiologix Inc. (AMEX: RGX) gained nearly 39% after the company and Primedex Health Systems, Inc. (OTCBB: PMDX) entered a definitive merger agreement under which Primedex will acquire Radiologix in a cash and stock transaction valued at the time of announcement at approximately $208 million, including net debt. On the downside, NMS Communications Corp. (Nasdaq: NMSS) lost 33% after the company lowered its second quarter guidance.
On Monday, traders will be looking for data on Wholesale Inventories at 10AM ET and Consumer Credit at 3PM ET. In addition, Alcoa (NYSE: AA) kicks off earnings season with its report after the close.
Volume was light today with 1.4 billion shares trading on the NYSE and 1.8 billion on the Nasdaq. Decliners outpaced advancers by a margin of 20:12 on the NYSE and 22:9 on the Nasdaq.
In individual stories, Radiologix Inc. (AMEX: RGX) gained nearly 39% after the company and Primedex Health Systems, Inc. (OTCBB: PMDX) entered a definitive merger agreement under which Primedex will acquire Radiologix in a cash and stock transaction valued at the time of announcement at approximately $208 million, including net debt. On the downside, NMS Communications Corp. (Nasdaq: NMSS) lost 33% after the company lowered its second quarter guidance.
On Monday, traders will be looking for data on Wholesale Inventories at 10AM ET and Consumer Credit at 3PM ET. In addition, Alcoa (NYSE: AA) kicks off earnings season with its report after the close.
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