Dow and Nasdaq Both Add 13

The Dow added 12.97 points today to close at 11,383, the Nasdaq added 13.43 points to close at 2,186 and the S&P 500 lost 0.01 points to close at 1,304. A positive GDP report, showing the US economy grew at a 2.9% annualized rate in the second quarter, attracted buyers on this slow summer trading day.

Volume was light with 1.3 billion shares trading on the NYSE and 1.7 billion on the Nasdaq. Advancers topped decliners by a margin of 21:12 and 19:12 on the Nasdaq.

In individual stories, Systemax Inc. (NYSE: SYX) added 24% today after the company reported strong Q1 results. On the downside, Orthologic Corp. (Nasdaq: OLGC) fell 16% after the company halted trials of Chrysalin after the drug did not demonstrate a benefit compared to placebo.

Tomorrow traders will be looking for Personal Income/Spending data and Initial Jobless Claims at 8:30AM ET. US Help Wanted Index, Chicago PMI and Factory Orders are due at 10AM ET. In addition, earnings from Dollar General (NYSE: DG), HJ Heinz (NYSE: HNZ), Tiffany & Co (NYSE: TIF) and OmniVision (Nasdaq: OVTI) are expected.

You May Also Be Interested In

• Dollar stores see mixed outlook ahead of earnings next week, Gordon Haskett comments
• Jefferies: US equity ETF inflows jump to $27.8B on strong demand
• Jefferies: 38% of Australian companies beat estimates this season