Stocks Recover in Late Trading; Finish on a Mixed Note
Stocks pared their losses in late trading to finish on a mixed note. All three major indexes had fallen sharply earlier today on worries about a possible Greek exit from the euro zone. However, several reports late in the day eased worries about Greece and the euro zone debt crisis.
According to a report, Mario Monti, the Italian Prime Minister, and Francois Hollande, the French President, agreed to consider all measures to boost economic growth in the euro zone.
The Dow Jones ended the day 0.05% lower at 12,496.15, the S&P 500 ended the day 0.17% higher at 1,318.86, and the Nasdaq ended the day 0.39% higher at 2,850.12.
Basic Materials stocks led the rebound in the S&P 500 in late trading. The sector ended the day 0.78% higher and was the best performer in the S&P 500 today. Industrials also rose sharply, ending the day 0.49% higher. Transportation stocks ended the day 0.69% higher. Healthcare stocks ended the day 0.78% lower, and were the worst performers in the S&P 500.
Among the major gainers and losers in trading today were Facebook Inc. (NASDAQ: FB), which ended the day 3.23% higher at $32, Dell Inc. (NASDAQ: DELL), which ended the day 17.18% lower at $12.49, PetSmart Inc. (NASDAQ: PETM), which ended the day 13.12% higher at $62.92, Dendreon Corporation (NASDAQ: DNDN), which ended the day 4.55% lower at $7.35, and Expedia Inc. (NASDAQ: EXPE), which ended the day 6.79% higher at $45.61.
European markets ended sharply lower earlier today on worries about Greece. The FTSE 100 Index in London ended the day 2.53% lower, while the CAC 40 Index in Paris ended the day 2.62% lower. Asian markets also ended sharply lower overnight, with the Nikkei 225 Index in Japan closing 1.98% 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. |