Stock Market

Stocks Slip as Quarter Ends

 

Turning to analyst changes, UBS reiterated a buy rating on IBM (IBM) and initiated 3M (MMM) as a buy. IBM was 15 cents, or 0.1%, higher at $117.86. Fellow Dow component 3M tacked on 21 cents, or 0.2%, to $93.60.

Commodities were mixed. A day after shooting more than 3% higher, crude oil lost $1.22 to $81.66. Gold and silver futures finished with sharp gains.

U.S. Treasury securities rallied early, but momentum faded late. The 10-year note was down 7/32 in price to yield 4.59%, and the 30-year bond fell 10/32 to yield 4.85%.

As for the currency market, the euro hit yet another record high against the dollar, climbing past $1.42.

Overseas markets were generally weak. In Asia, Japan's Nikkei 225 eased 0.3% overnight, while Hong Kong's Hang Seng was up 0.3%. London's FTSE 100 lost 0.3% after word that embattled mortgage lender Northern Rock sought additional liquidity from the Bank of England. Other European bourses were also lower.

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Dow Jones S&P 500 NASDAQ 10-Year Note
12,419.86 1,313.32 2,837.36 16.25
Oil *
103.00
DOWN
160.83
DOWN
19.10
DOWN
33.63
DOWN
1.06
10 Yr
1.62%
SPDR Gold
151.91
-1.28%
-1.43%
-1.17%
-6.12%
Data delayed 20 minutes

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