Stock Market Watch

Stocks Struggle for Direction

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Stocks are fluctuating between gains and losses in trading today. However, sentiment is still bullish as S&P 500 is headed for its best week in three months.

On Thursday, the S&P 500 closed above the 1400 mark for the first time since the credit crisis of 2008. U.S. equity market has been lifted by some strong economic data released in the last few days. Data from the labor market has been especially improving, a good sign for the U.S. economy.


Earlier today, however, there was slight disappointment as the consumer sentiment data fell short of expectations.

At last check, the Dow Jones was trading 0.02% lower at 13,249.88, the S&P 500 was trading 0.13% higher at 1,404.43, and the Nasdaq was trading 0.03% lower at 3,055.46.

Basic Materials and Energy stocks have been the best performers in the S&P 500 today. At last check, Basic Materials stocks were trading 0.69% higher, and Energy stocks were trading 0.88% higher. Financials are currently trading 0.29% higher. Conglomerates are up 0.22% in late trading. Consumer Cyclical stocks have been the worst performers in trading, down 0.29% currently.

ReneSola Ltd. (ADR) (NYSE: SOL) shares have been among the major gainers in trading today. ReneSola shares are rising after the company gave a solid outlook for the current quarter. The company also released its quarterly results, posting a loss. ReneSola shares rose to an intra-day high of $3.02, and at last check, the stock was trading 12.60% higher at $2.77 on above average volume of 3.98 million.

Other major gainers and losers in late trading today are Cogo Group Inc. (NASDAQ: COGO), which is currently trading 60.73% higher at $3.12, OncoGenex Pharmaceuticals Inc. (NASDAQ: OGXI), which is currently trading 20.42% lower at $13.87, Perfect World Co. Ltd. (ADR) (NASDAQ: PWRD), which is currently trading 26.45% higher at $15.87, and SMF Energy Corporation (NASDAQ: FUEL), which is currently trading 48.08% lower at $1.49.

 

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edliston
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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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.

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