Stocks End Near Lows As Dollar Rallies

Thursday, March 25, 2010
Market Commentary:

The major averages ended near their intraday lows after France and Germany backed an IMF supported plan to help Greece. The volume totals on the NYSE and on the Nasdaq exchange were reported slightly higher compared to Wednesday’s totals.  Decliners led advancers by a 22-to-17 ratio on the NYSE and by a 16-to-10 ratio on the Nasdaq exchange. There were 58 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 29 issues that appeared on the prior session. New 52-week highs again overwhelmingly trumped new lows on both exchanges

Euro Falls After EU Taps IMF:

French President Nicolas Sarkozy agreed with German Chancellor Angela Merkel’s proposal to ask the IMF to help rescue Greece. As expected, the euro continued its week long plunge as investors fear that other European nations will soon need to be bailed out. The European Union held a summit in Brussels that came close to officially calling for the IMF to provide emergency funds for Greece in addition to bilateral loans from other European nations. European Central Bank President Jean-Claude Trichet said the bank will extend its emergency collateral rules beyond 2010 which will help Greece emerge from the worst economic crisis since WWII. In other news, Dubai said that it plans to restructure $9.5 billion in Dubai World debt.

Healthy Economic Data Helped Stocks:

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