Mixed finish again for stocks. Stocks started the day on a good footing, with Dow gaining more than 150, but pulled back largely in the last hour. Dow ended up only 41, decliners slightly ahead of advancers while NAZ pulled back 13. The day started a good thought that a 2nd month of increases for leading economic indicators suggested a better than expected economy. Later, comments from San Disk (SNDK), down 2.42, hurt stocks, especially tech stocks on NAZ. SNDK gave a a negative outlook for the economy & said their sales were sluggish in Apr.
Dow closed above 13K, but just barely. Bulls were hoping for a higher close, near its high for the day, which would have been the highest close for the year. Oil continues at 127.05. Oil continues strong, aided by disasters in China. First they had the worst winter in half a century followed by the recent earthquake which is said to have done major damage to their hydroelectric plants. Oil bulls are betting this will lead to more oil purchases from China.
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