The markets were mostly lower today but just slightly as the holiday volume continues to be light. The Dow 30 was only down 9 in a back and forth day of trade. The S&P 500 was flat and the Nasdaq 100 lost 6, again the weakest of the group. Tomorrow will likely be more of the same as traders head out for the holiday weekend. The markets will be closed once again Monday in observance of New Years in the states.
Newmont Mining (NEM ) was one of the big winners today as the gold mining sector was hot. Shares of Newmont shot up 7.60% today and closed near their highs. This marks the best day for the gold mining company in over two months. Technical traders also noted the close above the $34 resistance area that has held back the stock since November.
Micron Technology (MU ) continued to pullback from its highs today, losing 2.24% on the day. Shares spiked over 12% last week after a good earnings announcement but have struggled to attract new buyers since. Add to that that the tech space has seen some profit taking in the past few days and you have a recipe for a short term pullback. Shares of the tech company are still up over 60% on the year.
Bank of America (BAC ) led the banking stocks lower today as the whole sector struggled to maintain its strength. Shares of the bank giant were only off by 1.48% but volume was at its highest level so far this week. The sector (XLF ) as a whole struggled today losing 0.75%, breaking through three week lows.
