Volatility ebbs but Wall Street is flat
Improving sentiment surrounding European sovereign debt was not enough to significantly move US stocks in the absence of significant macroeconomic or corporate news
How the major stock indexes fared on Tuesday (AP)
AP – Financial companies led stocks higher Tuesday on the one-year anniversary of the market’s hitting a 12-year low. The gain in bank stocks came as traders reacted to rumors that the government might prohibit the trades known as short sales in the stocks of companies it owns. Such a move would be aimed at preventing sharp drops in stocks including Citigroup Inc. and American International Group Inc.
Kroger, Ruby Tuesday, UAL are big movers (AP)
AP – Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:
Bulls may run more from March 2009 lows (Reuters)
Reuters – Bulls may get more room to run this week on the anniversary of the March 2009 lows — if U.S. stock investors see more signs of stability after Friday’s rally on smaller-than-expected job losses.
Summary Box: Dollar, stock relationship ending (AP)
AP – THE BREAKUP: During last year’s big market rally, the dollar consistently fell on days when stocks rose, and vice versa. That hasn’t been the case in the past three months.
SEC chief economist leaving (AP)
AP – The chief economist of the Securities and Exchange Commission, who is an expert on the financial instruments that figured largely in the 2008 crisis, is leaving his position for the private sector.
