MarketWatch.com MARKET SNAPSHOT Stocks turn mixed; Nasdaq in the red
by ShepWave.com
Posted: 11/29/2005 14:43 EST
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NEW YORK (MarketWatch) -- U.S. stocks turned mixed Tuesday as a raft of upbeat economic data failed to provide sufficient upward momentum to take the market to new highs, with some investors now looking to the November employment report at the end of the week to act as a fresh catalyst.
The Dow Jones Industrial Average ($INDU:
The Nasdaq Composite Index ($COMPQ:
The S&P 500 ($SPX:
"We've had a decent rally and we're just giving back some of those gains," said Mike Viracola, managing director and co-director of equities at Adams Harkness. "We're just taking a pause. It's more buyers taking a wait and see approach rather than any aggressive selling." For Kent Engelke, capital markets strategist at Anderson & Strudwick, the next significant catalyst to the upside could be Friday's employment report. "In my view, the report will once again demonstrate there is no cost-push inflation in the economy." On the broader market for equities, advanced outpaced decliners by 18 to 13 on the New York Stock Exchange, while winners and losers were evenly balanced on the Nasdaq. Volume was 968 million on the Big Board and 1.14 billion on the Nasdaq. |
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