The Market Story

Stocks Slip as Quarter Ends

Stock quotes in this article: JBL , IBM , MMM , FRE , COMS  

Turning to analyst changes, UBS reiterated a buy rating on IBM (IBM Quote) and initiated 3M (MMM Quote) 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
10,285.97 1,091.93 2,172.99 33.92
Oil *
75.40
DOWN
104.14
DOWN
11.32
DOWN
16.62
DOWN
0.56
10 Yr
3.39%
SPDR Gold
110.95
-1.00%
-1.03%
-0.76%
-1.62%
Data delayed 20 minutes

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