Over the weekend the rest of the country went off daylight savings time so, for the next 4 months, the market opens at 7:30 Tucson time and closes at 2:00. The S&P 500 did gain 2.4% last week as it tries to rebound from a dismal October and the market wanted to continue moving higher today but weakness in tech stocks weighed on the market in the early going.
The Dow opened +40
At the close:
- DOW +191 to 25462
- S&P +15 to 2738
- NASDAQ -28 to 7329
- OIL -.30 to 62.80 (5 month low)
- GOLD +1 to 1230
In corporate news shares of Apple dropped nearly 7% Friday on disappointing guidance and lost another 3% today to a 3 month low after a second analysts downgrade of the shares. Software company Datawatch jumped 35% on news they will be acquired by Altair in an all cash deal valued 40% above Friday’s close. Shares of food distributor Sysco lost 10% after the company issued a disappointing quarterly report.