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Mid-way through trading Monday, the Dow traded down 0.20 percent to 13,964.18 while the NASDAQ fell 0.19 percent to 3,187.18. The S&P also fell, decreasing 0.13 percent to 1,516.25.
Index Technicals:
The Dow looks to be forming a price channel today between 14,022.62-13,855.2, while the NASDAQ looks to be re-testing its September highs at 3,197, with near term support set around 3,125.
The S&P looks to be set up for a breakout above 1,515, with its lower bound set at 1,497. As a reference point, its 2007 highs were set at 1,576, which may form a key level.
Top Headline
Make headlines around the world today was the retirement of Pope Benedict XVI, the first time a pope has retired in over 6 centuries. While not specifically market related, it has been covered closely in financial media, with some tongue and cheek humor suggesting that he is leaving for the private sector.
Equities Trading UP
AOL
AOL traded up 5.83 percent to $35.69 this morning after the company received an upgrade and a price target increase on the heels of its positive earnings report Friday.
Shares of SunPower
SPWR traded up 10.47 percent to $8.76, riding a strong wave of positive sentiment on the solar sector as a whole.
Zynga
ZNGA has been having another good day of trading as shares rose 5.83 percent to $3.63 as investor sentiment continues to send the stock upwards following its earnings report last week.
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Heckman
HEK took a hit in early trading, falling 8.51 percent to $3.98 following a downgrade to Underperform at Wedbush Securities this morning.
Caesars Entertainment
CZR was also down, falling 7.55 percent to $12.86, despite a strong report in Nevada gaming revenues for 2012.
Shares of Rentech
RTK opened fairly flat, then spiked downwards, losing 5.19 percent to $2.92, possibly a technical drop.
Commodities
In commodity news, oil traded up 1.11 percent to $96.78, while gold traded down 1.10 percent to $1,648.40.
Silver traded down 0.53 percent Monday to $30.91.
Eurozone
In the eurozone this morning, markets were mixed as traders moved on sentiment around the meeting of European leaders. The Spanish Ibex lead the downside, falling 0.31 percent, while the French CAC lead things on the upside, gaining 0.50 percent.
Economics
There were no major economic releases Monday morning.
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