Stocks Pare Losses in Late Trading, Finish Off Session Lows
Stocks pared losses in late trading today to finish off session lows. Stocks bounced back after reports that the German Chancellor cancelled EU summit’s press conference, raising hopes that European leaders are working to come up with a solution to stem the euro zone debt crisis.
All three major indexes remained under pressure throughout the day after Supreme Court in the U.S. upheld a key aspect of President Obama’s healthcare overhaul. Investors were also anxious as they monitored developments at the EU summit.
The Dow Jones ended the day 0.20% lower at 12,602.26, the S&P 500 ended the day 0.21% lower at 1,329.04, and the Nasdaq ended the day 0.90% lower at 2,849.49.
The rebound in the S&P 500 was led by Consumer Cyclical sector, which ended the day 0.42% higher. Utilities also bounced back in late trading, ending the day 0.41% higher. Energy sector finished 0.36% higher. Technology sector was the worst performer today, ending the day 0.95% lower. Financials ended the day 0.53% lower.
Among the major gainers and losers in trading today were HMS Holdings Corp. (NASDAQ: HMSY), which ended the day 14.25% higher at $31.75, JP Morgan Chase & Co. (NYSE: JPM), which ended the day 2.45% lower at $35.88, Facebook Inc. (NASDAQ: FB), which ended the day 2.70% lower at $31.36, HCA Holdings Inc. (NYSE: HCA), which ended the day 10.75% higher at $29.47, and Family Dollar Stores Inc. (NYSE: FDO), which ended the day 2.79% lower at $67.20.
European markets ended mostly lower in trading today, however the losses were limited. The FTSE 100 Index in London ended the day 0.56% lower, and the CAC 40 Index in Paris ended the day 0.37% lower. Earlier, Asian markets ended on a mixed note.
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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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