Stock Exchanges Yet to Recover From the Monday Shock, General Motors (NYSE: GM) Gained
Tuesday, November 30, 2010 7:44 PM

Wall Street on Tuesday failed to recover from its Monday blues as both the Dow Jones Industrial Average and Nasdaq lost grounds on the day's trading. The Dow Jones lost 0.42 percent to close at 11,006.02, and the Nasdaq closed at 2,498.23, which was 1.07 percent less than its Monday closing. The S&P 500 Index closed at 1,180.55, a loss of 0.61 percent above its previous day closing.

Despite the down slide in the Stock Exchanges, several companies like Baldor Electric, RIMM, Citigroup and General Motors had a positive run in the day's trading, thus raising hopes of an upward swing for both Dow Jones and Nasdaq on Wednesday.

Baldor Electric Company Common (NYSE: BEZ) led the group of companies posting positive results on Tuesday's trading. It closed at 63.31 points, an increase of 40.35 percent above its previous day closing of 45.11 points. Similarly, Research in Motion Limited (NasdaqGS: RIMM) closed the day at 61.83 points, which was 4.81 percent above its Monday's closing mark of 58.99 points.

iShares Silver Trust (NYSEArca: SLV) has raised hopes about Wednesday's trading when it ended Tuesday's trading at 27.44 points, which is 3.35 percent above its Monday's closing mark of 26.55 points. Meanwhile, Citigroup Inc (NYSE: C) continued its good show as it closed the day at 4.20 points, an upward swing of 1.20 percent above its Monday's close of 4.15 points.

Continuing its strong run in the market, General Motors Company (NYSE: GM) ended Tuesday's trading at 34.20 points, which is 1.18 percent better than its previous day closing of 33.80 points.

Despite the negative show by the pharmaceutical sector on Tuesday, Keryx Biopharmaceuticals Inc (NasdaqCM: KERX) had a healthy run in Nasdaq. It closed at 5.45 points, 1.68 points above Monday's closing value of 5.36 points.

Several leading names like Bank of America, Amarin Corporation PLC, and Governor and Company of the Ban, which had posted positive results on Monday failed to impress on Tuesday market session.

Bank of America Corporation (NYSE: BAC), which had closed at 11.31 points on Monday, ended the day at 10.95, a loss of 3.18 percent. Similarly, Amarin Corporation PLC (NasdaqCM: AMRN) ended the day on a disappointing note as it closed on 5.82 points, a loss of 0.51 percent above its Monday's figure.

Governor and Company of the Ban (NYSE: IRE), which seems to be unaffected by the Irish bailout crisis on Monday, lost way on Tuesday's trading when it down slide 6.01 percent compared to its Monday's closing figure of 1.83 points to end the day at 1.72 points.

Technology companies like Seagate Technology, Microsoft and Cisco Systems posted negative results on Tuesday's trading. While Cisco Systems Inc (NasdaqGS: CSCO) lost 1.44 percent in the day's trading to close at 19.16 points, Seagate Technology (NasdaqGS: STX) closed the day 13.41 points which was 3.25 percent below its last day closing figure of 13.86 points.

Microsoft Corporation (NasdaqGS: MSFT) failed to capitalize on its promising start on Tuesday to finish the day at 25.26 points, a loss of 0.21 percent above its Monday's mark of 25.31 points.



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