| 11:00 ET Dow -45, Nasdaq -12, S&P -6.55: [BRIEFING.COM] Weal April new home sales data took the wind out of a strong opening in the market. On the Nasdaq, 2235 continues to hold as support, but a drop through that level would test next support at 2215....Fuel cells being energized by Plug Power (PLUG +15%) receiving $7 mln contract from a public utility to supply 75 of Plug's first commercial fuel cell systems. HYGS +6%, BCON +5%...With techs coming under pressure, defensive groups like food, tobacco, beverage stocks seeing renewed interest. Cyclicals are out of favor today such as paper, railroads, steel, and chemicals on downgrades and the April new home data is not reassuring on the economy. NYSE Adv/Dec 1159/1569... Nasdaq Adv/Dec 1507/1666. |
