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Market Wrap-Up for June 28 (MO, RAI, PEP, JNJ, CLF, X, more)

Posted: 6/28/2010 4:11:00 PM
Referenced Stocks: CLF;JNJ;LO;MEE;MO;PEP;RAI;X

We started to have some window dressing on Friday, but sellers took some of the sizzle away in the afternoon. Today ended up being a very similar case.

Looking at today's tape, we saw a big pop in tobacco plays after the U.S. Supreme Court rejected the Justice Department's bid for as much as $280 billion in tobacco company profits, refusing to hear an Obama administration appeal. Companies like Altria Group ( MO ) , Reynolds American ( RAI ) and Lorillard ( LO ) all moved nicely higher. Other names doing well today included Pepsico ( PEP ) and Johnson & Johnson ( JNJ ) .

Commodity-related shares were dragging the indices lower for much of the day. Plays like Massey Energy ( MEE ) , Cliff's Natural Resources ( CLF ) , and U.S. Steel ( X ) did their share of the damage. The dividend yields of these companies are below average and make them unattractive.

Hope everyone had a great weekend as we get set for another week of action. It's a regular schedule this week, but the market will be closed next Monday, July 5 to honor the 4th of July holiday.

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