Mon 16 Apr 2012 15:18:21 CT
The June S&P 500 experienced a seesaw session, which traded into new lows during the later morning hours, followed by an afternoon recovery. Early gains in the S&P 500 appeared to come from a rebound in European equities, better than expected US retail sales data and earnings from Citigroup that beat street estimates. Some traders indicated that the market faced growing selling pressure in the wake of disappointing earnings from Mattel and weakness in the shares of Google ahead of legal proceedings with Oracle. Shares of Apple were the big downside drag on tech-related shares after slipping more than 3.0% on the session. This was a key force in keeping the NASDAQ in negative territory throughout the trading day. Some traders pointed to gains in retail-related shares as a force helping to drive the S&P 500 and Dow Jones Index in positive territory.
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