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Closing Bell 10.02.07

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Sponsored by the Financial Times.
The equities markets broke out of correlation today, with the stock of large companies being pushed down while those of smaller companies continued to rise. This was reflected in the indexes heading in opposite directions. The Dow Jones Industrial Average fell 40.24 to 14047.31. The S&P 500 was nearly flat, closing down 0.41 to 1546.63. The Nasdaq Composite Index continued to push into dot com one point oh territory, climbing 6.12 to 2747.11. On the New York Stock Exchange Tuesday, 1,899 stocks went green arrow and 1,379 went red arrow, with 1.27 billion shares trading hands. Big manufacturing stocks fell, while oil stocks and financials generally rose.
When markets diverge in unusual ways, traders often wonder if we might be in for a volatility spike. Totally coincidentally, the VIX climbed higher today.
We spun our wheel for a random index of the day and it landed on The Bank of New York Mexico ADR Index, which rose 9.6 points to 429.89. Even the Mexicans love Bernanke's helicopter.
The ten year gained 6/32, to yield 4.528% Tuesday. The 30-year bond was also up 6/32, yielding 4.773%.
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