Small Rally Into The Close

The market rallied a bit into the close, allowing the DOW and SPX to finish slightly positive, while the Nasdaq closed down.

Volume was below average today. And breadth was positive on the NYSE. Semis and biotechs underperformed, while consumer staples and utilities fared best. Bond yields closed flat at 5.13%, and oil closed down slightly also.

Alcoa (AA) reported slightly better earnings after the close, and tomorrow morning Genentech (DNA) reports. Good earnings from DNA could help spark another rally in the biotech group.
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