Closing Bell: 08.13.07

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Brought to you by Financial Times.
The major indexes were mostly flat today, as the Dow, S&P and Nasdaq closed the day slightly down, erasing gains made in morning trading.
Volume and volatility calmed down a bit amid a global infusion of central bank money to ease credit concerns. The European Central Bank injected $65 billion, the Bank of Japan injected $5 billion and the U.S. Federal Reserve injected $2 billion into their respective banking systems. The infusion of new money had a positive impact on European markets, led by the FTSE which finished up 3%.
Six of the ten S&P 500 sectors traded higher, highlighted by gains in telecom. The financial sector lagged with the announcement that Goldman was ‘coming to the rescue’ of its Global Equity Opportunities Fund by accepting $3 billion of capital from new investors willing to float on a bed of corpses. Goldman finished the day down 1.7%.
A continuous explosion of market flavor from FTAlphaville.

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