Stocks Weighed Down By Bearish Data in Range-Bound Session

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With the Federal Reserve finally beginning to taper its stimulus programs, the financial markets are turning attention to other influences today. Equities are fractionally lower in very light profit-taking, exacerbated by bearish economic data and pulling the three major indices off yesterday's post-FOMC highs.

Razor-thin ranges are also being established as the Christmas holiday winds down with few traders stepping too far from the pack ahead of Q3 GDP due out tomorrow. The tech-heavy Nasdaq is underperforming with bio-tech stocks taking the brunt of the selling pressure, while the Dow Industrials Average is being weighed down by weakness in industrials as well as the interest-rate sensitive utility sector.



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

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This article appears in: Investing , Commodities

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