Stocks are headed for a lower finish in trading today, with all three major indexes in red in late trading. However, stocks are off session lows in late trading.
All three major indexes fell in trading today following reports which suggested that Standard & Poor’s will downgrade credit ratings of several euro zone economies, including triple A rated France. Concerns about the euro zone debt crisis overshadowed better than expected consumer sentiment data released earlier in the day.
At last check, the Dow Jones was trading 0.45% lower at 12,414.75, the S&P 500 was trading 0.51% lower at 1,289.12, and the Nasdaq was trading 0.52% lower at 2,710.54.
All sectors in the S&P 500 are down sharply in late trading today. Conglomerates are leading the losses in the S&P 500 in late trading today. At last check, Conglomerates were trading 1.06% lower. Transportation stocks are currently trading 1.04% lower. Energy stocks are down 0.61% currently, while Basic Materials stocks are down 0.79% currently. Financials are down 0.80% in late trading.
Among the major gainers and losers in late trading today are Georgia Gulf Corporation (NYSE: GGC), which is currently trading 34.27% higher at $32.87, JDA Software Group Inc. (NASDAQ: JDSA), which is currently trading 13.41% lower at $28.41, Rovi Corporation (NASDAQ: ROVI), which is currently trading 10.29% higher at $30.34, Arch Coal Inc. (NYSE: ACI), which is currently trading 9.77% lower at $14.13, Westlake Chemical Corporation (NYSE: WLK), which is currently trading 5.76% higher at $54.19, Alpha Natural Resources Inc. (NYSE: ANR), which is currently trading 10.64% lower at $20.15, and Acacia Research Corporation (NASDAQ: ACTG), which is currently trading 7% higher at $39.57.
European markets ended mostly lower in trading today on worries about the S&P downgrade. The FTSE 100 Index in London closed 0.46% lower, while the CAC 40 Index in Paris closed 0.11% lower.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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