Market Wrap-Up for May 7 (AXP, BP, KFT, AFL, DIS, JCP, more)


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The market had lots of swings once again, but when all was said and done, sellers overwhelmed buyers once again with most major indices closing down between 1-2%.

Be sure to check out the link below for the latest dividend stock removals that were made earlier today, if you did not read the e-mail alert that was sent out. The names coming off today were all in the small cap space as we continue to adjust and maneuver our way through the latest Wall Street obstacles that were thrown our way. I am still at a loss for words as to the nonsense witnessed on the major business channels regarding the technical issues that choked the market tape in the middle of yesterday afternoon. It was even amazing to see some headlines in the paper today, running with the 1000 pt. drop and 700 pt. rally. As I mentioned yesterday, the NYSE and NASDAQ were almost certainly cancelling out all the erroneous trades that went through in that brief swoon.

As we take a quick peek at today's action, there was little to like on the tape, but Kraft Foods ( KFT ) Dr. Pepper Snapple Group ( DPS ) and BHP Billiton ( BHP ) did attract some buying. As for the downside, BP plc ( BP ) headed lower once again, as did American Express ( AXP ) , Aflac ( AFL ) , and Starwood Hotels ( HOT ) , among quite a few others. Volume was extremely heavy once again, with 9.54 Billion shares traded on the NYSE and 4.05 Billion shares traded on the NASDAQ.

There could likely be a lot of changes to this weekend's watchlist, so be sure to check in to Premium to see if we have taken any names off the watchlists as possible future additions to the recommended list. Looking ahead to next week, we'll be looking out for earnings out of Walt Disney ( DIS ) , Macy's ( M ) , J.C. Penney ( JCP ) and Nordstrom Inc. ( JWN ) just to name a few.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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