Stocks limped into the close again on Tuesday as investors
squared positions and rebalanced their portfolios ahead of second
quarter earnings. Warnings of a "severe pullback" from Citigroup
coupled with Raymond James' concerns about the risk of more
aggressive profit-taking encouraged investors to realize gains on
recent advances in the equity market off record levels from last
Nearly all sectors suffered losses, with biotech and other
momentum issues like Twitter (
) and Pandora Media (
) taking the hardest hits.
Tuesday was very light on economic data, but was further
validation of a recovering jobs market. There were 4.635 million
new job openings in May according to the Job Openings and Labor
Turnover Survey (JOLTS), topping estimates for an increase of 4.40
Here's where the U.S. markets stand at the close:
Dow Jones Industrial Index down 117.59 (-0.69%) to 16,906.62
S&P 500 down 13.94 (-0.70%) to 1,963.71
Nasdaq Composite Index down 60.07 (-1.35%) to 4,391.46
(+) NURO, FDA has approved its over-the-counter wearable
technology for treatment of chronic pain.
(+) BIOA, Inks 210,000 ton-per-year sales contract with Vinmar
(+) TXMD, FBR Capital initiated coverage with an Outperform
(-) ZGNX, Competitor receives FDA priority-review status for
(-) EGLE, Reached agreement with lenders allowing warrant
holders to immediately convert their holdings immediately into
common stock on a cashless basis.
(-) ACLS, Forecast net income, revenue trailing analyst
forecasts after lowering Q2 outlook.
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