US Telecoms lead the Bull charge on Wall St 1 yr after market hit bottom

Exactly one year after US stocks fell to their worst close in more than 12 yrs, the US market spent most of Tuesday looking for direction, as it appears that some rotation is beginning into financials, telecoms and some under performing areas of the market.The major averages ended a bit higher on gains in the telecom and industrial sectors. The trend is North.

The DJIA rose 11.86 pts, or 0.11%, to close at 10,564.38, the S&P 500 closed up 1.95 pts, or 0.17 percent, to close at 1,140.45, and the NAS tallied up a + 8.47 pts, or 0.36%, to end the session at 2,340.68.

The US. economy is recovering from the worst economic downturn since the 1930′s, with the latest data showing the economy is on the verge of creating jobs and a majority of companies reporting stronger-than-expected earnings.

Advancing Sectors: Telecom (+1.2%), Industrials (+0.8%), Tech (+0.4%), Financials (+0.3%), Energy (+0.1%)

Declining Sectors: Materials (-0.5%), Utilities (-0.3%), Consumer Staples (-0.2%), Health Care (-0.1%), Consumer Discretionary (-0.1%)

Volume and Breadth: About 9.24B/shrs traded on the NYSE, the AMEX, and NAS, just below last year’s estimated daily average of 9.65b/shrs. Advancers outnumbered decliners on the NYSE by 4 to 3, and on the NAS, about 5 stocks rose for each 4 that fell.

Stocks to Watch Today

American International Group, Inc. (AIG), AMR Corporation (AMR), Apple, Inc (APPL), and Citigroup, Inc.(C)

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Posted by Shayne Heffernan on Mar 10th, 2010and filed underLatest News, Limelight, Stocks, USA.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site