Latest Market Updates

1:10 pm : After opening appreciably higher, the stock market closed Thursday just above the unchanged mark as participants traded listlessly in a shortened session just ahead of the Independence Day holiday. The Nasdaq, however, finished with a loss as weakness in the semiconductor industry weighed on the index. Notably, the latest batch of economic data also failed to spur buying interest. The stock market fell to just above the 1250 mark shortly after opening bell, but was able to climb into positive ground amid broad-based gains. Still, the advance was limited as leadership failed to emerge. Action in the largest sector, technology (+0.1%), was offset by energy (-0.5%), which is the second-largest economic sector. Technology’s advance was held in check by weakness among semiconductor companies. NVIDIA (NVDA 12.49, -5.54) plummeted 30% after providing a disappointing outlook to its investors after yesterday’s close. Shares of Intel (INTC 20.66, -0.27) also dipped in response to the announcement. While economic news did little to kick start buying, it did not turn participants away. The unemployment rate for June came in at 5.5%, exceeding the 5.4% rate that was expected. Nonfarm payrolls fell by 62,000 during the month, unchanged from the prior month, but a bit more than economists expected. Jobless claims for the week ending June 28 totaled 404,000, reflecting a loosening labor market. The week’s claims topped the 385,000 claims economists expected and were up from the prior week. Importantly, the data are consistent with a modestly growing economy and are not far enough from expectations to alter such an economic outlook. The June ISM Services Index came in at a less-than-expected 48.2, reflecting contraction. June’s reading was down from the reading of 51.7 posted in May. As a side note, the European Central Bank increased its benchmark lending rate 25 basis points to 4.25%, but comments by the ECB’s president led participants to believe another rate hike is unlikely for the time being. That notion helped the dollar gain strength, as indicated by the dollar index, which advanced 1%. The dollar’s advance helped cut into oil’s gains; crude futures had come close to $146 per barrel in electronic trading earlier in the morning.DJ30 +73.03 NASDAQ -6.08 NQ100 +0.0% R2K -1.0% SP400 -1.1% SP500 +1.37 NASDAQ Adv/Vol/Dec 1061/1.41 bln/1697 NYSE Adv/Vol/Dec 1059/931 mln/2003

12:35 pm : The stock market's gains have waned.  However, support at the neutral line has protected the S&P 500 from trading with a loss.  The Dow Jones Industrial Average continues to trade with a respectable gain, and the Nasdaq has fallen back into the red.

The greenback has shown notable strength this session. The dollar index is up nearly 1% to 72.7.  Meanwhile, Treasuries are seeing little buying interest.  The 10-year note is down just 2 ticks, while the 30-year bond is down 9 ticks.

The stock market will close at 1:00 PM ET ahead of the Independence Day holiday.DJ30 +68 NASDAQ -6 SP500 +1 NASDAQ Adv/Vol/Dec 1114/1.12 bln/1614 NYSE Adv/Vol/Dec 1154/726 mln/1878

12:05 pm : Stocks continue to trade with gains, though off a bit from earlier levels.  The advance remains broad-based, but there are no clear-cut, market-moving sectors propelling the indices higher.  Action in the two largest sectors, technology (+0.2%) and energy (-0.2%), are virtually negating one another.

Nonetheless, sentiment remains generally positive.  Advancing issues in the S&P 500 outnumber decliners by almost 2-to-1.DJ30 +88 NASDAQ -1 SP500 +5 NASDAQ Adv/Vol/Dec 1238/970 mln/1462 NYSE Adv/Vol/Dec 1245/611 mln/1752

11:30 am : The stock market continues to trade with decent gains and is gathering upward momentum.  The session's advance, however, has been largely held in check as key sectors are slow to advance.

After encountering strong selling in yesterday's session, materials (+1.5%) and industrials (+1.7%) have found favor among investors.  Still, the two sectors combine to make up roughly 15% of the S&P 500's total weight, giving them little influence over the broader market.

The largest economic sector, technology (+0.6%), is being held back by semiconductor companies.DJ30 +96.56 NASDAQ +5.41 SP500 +7.32 NASDAQ Adv/Vol/Dec 1262/815 mln/1428 NYSE Adv/Vol/Dec 1250/484 mln/1701

11:00 am : All three of the major indices chop along in positive territory.  The Dow is outpacing its counterparts, helped by the likes of mega-cap holdings Exxon Mobil (XOM 89.28, +1.87) and IBM (IBM 120.06, +0.96).

In economic news, the ISM Service Index for June came in below expectations, totaling 48.2.  The reading was down from the 51.7 posted in May.DJ30 +75 NASDAQ +4 SP500 +6 NASDAQ Adv/Vol/Dec 1184/639 mln/1413 NYSE Adv/Vol/Dec 1110/398 mln/1802

10:35 am : The stock market has climbed from the red to trade with a modest gain.  However, stocks continue to trade without leadership.

The financial sector (-0.1%) showed promise early on, but weakness in the specialized finance industry (-1.8%), regional banks (-2.2%), and thrifts and mortgages (-2.8%) has been considerable.

Notable laggards include Dow components American International Group (AIG 26.28, -0.47) and Citigroup (C 16.72, -0.12).DJ30 +67 NASDAQ +3 SP500 +3 NASDAQ Adv/Vol/Dec 1014/464 mln/1504 NYSE Adv/Vol/Dec 974/292 mln/1879

10:05 am : Selling pressure intensified to knock each of the major indices into the red.  The Nasdaq continues to trade with losses, lagging either of its counterparts.

The Nasdaq's weakness is largely attributable to semiconductors.  NVIDIA (NVDA 12.61, -5.42) is down 30% after providing a disappointing outlook.  Shares of Intel (INTC 20.49, -0.44) are trading lower on fears it may experience similar weakness in its end markets.DJ30 -33 NASDAQ -20 SP500 -8 NASDAQ Adv/Vol/Dec 813/274 mln/1585 NYSE Adv/Vol/Dec 931/174 mln/1794

09:45 am : The major indices opened in positive territory, but quickly encountered a bout of selling pressure.  In turn, the Nasdaq has been taken into the red.

Financials (+0.8%) are currently the best performing sector.  Only energy (-0.3%), telecom (-0.2%), and technology (-0.2%) are trading with losses.

Oil is currently trading near $144.10 per barel, up roughly 0.4%.DJ30 +45.19 NASDAQ -3.98 SP500 +3.64 NASDAQ Adv/Vol/Dec 957/139 mln/1312 NYSE Adv/Vol/Dec 1279/91 mln/1351

09:15 am : S&P futures vs fair value: +9.2. Nasdaq futures vs fair value: +9.5.  The stock market is looking to open in positive territory as stock futures continue to exceed fair value just ahead of the opening bell. 

09:00 am : S&P futures vs fair value: +8.8. Nasdaq futures vs fair value: +5.5.  Stock futures are now on track for a modestly upward start to Thursday's action.  The dollar has strengthened and the advance in crude oil prices has eased a bit.

08:30 am : S&P futures vs fair value: +0.3. Nasdaq futures vs fair value: -3.0.  Stock futures remain on track for a flat opening.  The unemployment rate for June came in at 5.5%, which is above the 5.4% rate of unemployment that economists forecast.  The rate reflects a 62,000 drop in nonfarm payrolls.  The change in payrolls was unchanged from the prior month, but 2,000 more than economists expected.  Jobless claims for the week ending June 28 totaled 404,000, topping the 385,000 claims economists expected and up from the prior week.

08:00 am : S&P futures vs fair value: +0.6. Nasdaq futures vs fair value: -8.0.  Stock futures have shown improvement, but the stock market is on track for a mixed start.  Oil is on the rise in electronic trading, climbing closer to $146 per barrel.  The European Central Bank increased its key lending rate by 25 basis points to 4.25%.

06:18 am : S&P futures vs fair value: +0.1. Nasdaq futures vs fair value: -5.3.  

06:17 am : FTSE...5399.30...-27.00...-0.5%. DAX...6257.06...-48.36...-0.8%.

06:17 am : Nikkei...13265.40...-20.97...-0.2%. Hang Seng...21242.78...-461.67...-2.1%.