Stagflation Woes & Stronger Dollar Send Stocks Lower

Tuesday, December 15, 2009

Market Commentary:

The major averages closed lower as investors digested the latest round of disconcerting economic data. Volume, an important indicator of institutional sponsorship, was reported higher than Monday’s totals on the NYSE and on the Nasdaq exchange which marked a distribution day for the major averages. Decliners led advancers by a 23-to-14 ratio on the NYSE and by about a 17-to-10 ratio on the Nasdaq exchange. There were 42 high-ranked companies from the Leaders List that made a new 52-week high and appeared on the BreakOuts Page, lower than the total of 51 issues that appeared on the prior session. New 52-week highs substantially outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.

Stagflation Around The Corner?

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