Mid Day Update

Thursday, March 6, 2008

The Nasdaq is down 1.18% to 2246, the Dow is down 1.25% to 12102, and the S&P is down 1.54% to 1313. Leading sectors include: Education Services +1.9%, Asset Management & Consulting +1.4%, Trading Companies $ Distributors +1.0%, Broadcasting & Cable T.V. +0.9%, and Oil & Gas Exploration +0.9%. Lagging sectors include: Construction & Engineering -3.4%, Construction Materials -2.7%, Forest Products -2.6%, Diversified Banks -2.5%, and Homebuilding -2.5%. The morning action has come on below average volume (NYSE 544 mln, vs midday avg at 571 mln; NASDAQ 809 mln, vs 889 mln avg), decliners outpacing advancers (NYSE advancers/decliners 610/2421, NASDAQ advancers/decliners 802/1937), and with new lows outpacing new highs (NYSE new highs/new lows 7/134, Nasdaq new highs/new lows 10/113).

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