With 30 minutes left in the regular trading day, the market averages have swung back into positive territory, lead by broker/dealer issues, semiconductors, and networking stocks. Advancers and decliners are near parity on the New York Stock Exchange, at 1,632 and 1,651, respectively, for an advance/decline ratio of 0.99. On the Nasdaq, decliners are already still outpacing advancers, 1,698 to 1,242. The resultant advance/decline ratio on the tech-rich exchange is 0.73, despite a modest increase in the Nasdaq Composite (COMP).
The Dow Jones Industrial Average (DJIA) is currently showing a gain of 70 points, or half a percent. Twenty-three of the index's 30 components are in positive territory, led by American Express (AXP) and McDonald's (MCD). Among the 7 declining stocks are Alcoa (AA), 3M (MMM), and Exxon Mobil (XOM).
On the Big Board, there have been 32 new highs made today along with 98 new lows. The Nasdaq has seen 31 new highs and 101 new lows. Appearing on today's new highs list are Nokia (NOK), First Data (FDC), Juniper Networks (JNPR), and DryShips (DRYS). Some of the names on the new-lows list include retailers Wal-Mart Stores (WMT), Office Depot (ODP), Staples (SPLS), and Bed Bath and Beyond (BBBY).