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Markets Mixed in Light Trading

Posted Jul 3, 08 12:42 PM CDT in Business 

(Newser) – The markets ended mixed today amid flat economic news, MarketWatch reports. With volume light ahead of the holiday, General Motors enjoyed a rebound after a sharp fall yesterday helped push the market into bear territory. The Dow gained 73.03 to close at 11,288.54. The S&P 500 gained 1.38, closing at 1,262.90, while the Nasdaq lost 6.08 and settled at 2,245.38.

June unemployment data came in only slightly worse than forecast and stirred little reaction, as did oil’s move above $145 per barrel. "It looks like everyone who wanted to unload shares did it (yesterday), before they got out of town," said one manager said of today's shortened session. "That's left us in a pretty good position for a rally today."
Sources:: Wall Street Journal, Bloomberg, MarketWatch

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Traders work on the floor of the New York Stock Exchange, Thursday July 3, 2008.   (AP Photo/Richard Drew)
Fireworks light up the closing bell ceremonies of the New York Stock Exchange, Thursday July 3, 2008.   (AP Photo/Richard Drew)
Trader Michael Capolino, right, talks on his mobile phone as he works on the floor of the New York Stock Exchange, Thursday July 3, 2008.   (AP Photo/Richard Drew)
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