Stocks Hold on to Gains
Stocks are holding on to their gains in trading currently, with all three major indexes in green. Stocks are gaining on reports that central banks are preparing to take coordinated action to boost liquidity in the financial markets following the Greek election on Sunday.
Hopes of central bank intervention have overshadowed some weak economic data released earlier today.
At last check, the Dow Jones was trading 0.53% higher at 12,718.43, the S&P 500 was trading 0.61% higher at 1,337.24, and the Nasdaq was trading 0.70% higher at 2,856.24.
All sectors in the S&P 500 are holding on to their gains in trading currently. Energy sector is leading the gains in the S&P 500 in trading currently. At last check, the sector was trading 0.99% higher. Basic Materials sector is also up sharply in trading currently. At last check, the sector was trading 0.65% higher. Conglomerates are currently trading 0.79% higher, while Industrials are currently trading 0.43% higher. Technology sector is currently up 0.70%.
Among the major gainers and losers in trading currently are National Bank of Greece (ADR) (NYSE: NBG), which is currently trading 10.56% higher at $1.78, Navistar International Corp. (NYSE: NAV), which is currently trading 8.62% higher at $30.23, Ivanhoe Mines Ltd. (NYSE: IVN), which is currently trading 7.77% lower at $9.61, Royal Bank of Scotland Group Plc (ADR) (NYSE: RBS), which is currently trading 9.38% higher at $7.81, and US Airways Group Inc. (NYSE: LCC), which is currently trading 3.21% lower at $12.08.
On the economic front, a report showed that consumer sentiment fell in June to a six-month low. The Thomson Reuters/University of Michigan’s preliminary consumer sentiment index fell to 74.1 in June. Earlier in the day, a report from the Federal Reserve showed that industrial production fell0.1% in the month of May.
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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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