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Brought to you by Financial Times.
Tomorrow is the last trading day of Q3 and we expect to see some increased volatility in trading Friday. Today saw the highest rise of the Nasdaq since July despite weakened new-home sales which declined 8.3%. New home purchases have slowed to a crawl – 795,000 its lowest level in 7 years with prices declining by the most since 1970. Did someone say more interest rate cuts??
Market movers: Sallie Mae’s stock climbed to its highest level in six months amidst expectations of a new takeover agreement. Exxon and Chevron also saw plenty of action as crude prices continue to rise.
Major index numbers as follows: The DJIA up 32.51 to close at 13910.66. The S&P 500 rose 5.18 to 1530.60. The Nasdaq ascended 9.23 to 2708.26 to it’s highest since July 19th. The Russell added 4.89 to 814.01. The 10YR Note also up 13/32 to close at 4.573%. Random index spinner of the day: CAC 40 Index up 42.60 to close at 5,733.37.
Total number of shares traded on the NYSE 1.18 billion with 2,215 in the green and 1,078 seeing red. The US Dollar flexed it’s muscle moving up to $1.4147 from $1.4125 against the euro. The greenback up ten yen cents or whatever the heck you call it from 115.55 yesterday to close at 115.65.
Tomorrows numbers to look out for: Construction spending and Consumer sentiment both at 10:00 ET.
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