U.S. markets dropped more than 1% today as the euro fell off a cliff hitting a 2 year low until the afternoon when the euro regained its footing sending the U.S. dollar lower and equities higher.
U.S. markets are at session lows with the S&P 500 nearing the 1300 market and the NASDAQ is extending its slide to yet another new session low to the 2800 mark.
A look at May 23th high volume stocks as 10:00 am ET
New Home Sales Report
On Wednesday, the Ira Sohn investment conference was held in New York. The Sohn Investment Conference brings together a group of successful investors to present their best investment ideas.
Things are really going to worse from bad for the Market Vectors Coal ETF (KOL [stock KOL]), the dominant exchange-traded product devoted to coal stocks, this year. Shares of Patriot Coal (PCX [stock PCX] are off more than 54% today on chatter the company may have to seek bankruptcy protection and there’s speculation Patriot has met with restructuring advisers, perhaps a sign the company won’t be able to meet its
The market saw up and down swings. Financials lead the way in early trade through the afternoon. Market took a turn when news reports quoted former Greece Prime Minister Lucas Papademos as saying that preparations for the country’s exit from the euro zone are being considered, sending the euro and markets lower.
American Vanguard Corp. (AVD [stock AVD]) is showing unusual option activity today, with call volume at more than 1,000% of average. The August 30 call has a volume of 2,636 contracts.
Technical Screens found trouble in the energy sector.
The US Dollar (ticker: USDOLLAR) traded lower against the Australian Dollar and other high-risk counterparts on a modest improvement in financial market sentiment, but overall momentum left it poised for modest gains against the Euro and British Pound. It was a quiet start to the trading week as highly-anticipated events over the weekend failed to produce material breakthroughs or shifts in financial market sentiment.