Market diary.Stocks took a hit late in the week ended Jan. 25 after disturbing news on the home front. The National Association of Realtors The National Association of Realtors (NAR) is made up of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, and counselors, and others working in the real estate industry. said existing home sales Existing Home Sales An economic indicator of both the number and prices of existing single family houses, condos and co-op sales over a one-month period. Released monthly by the U.S. fell 5.7 percent in December, signaling a slowdown in the housing market. The Standard & Poor's 500 Index fell 1 percent to 1,264.68 while the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , weighed down by high-profile earnings misses, fell 1.3 percent to 10,709.70. The Nasdaq Composite Index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed fell 0.8 percent to 2,260.65 while the LABJ 200 Index dipped 1 percent to 126.48. Advances outpaced declines 115 to 74, with 11 issues unchanged. Locally, 31 stocks hit new 52-week highs, while just five sank to new lows. Automotive, plastics and metals led gainers, up 8.7 percent, driven by Reliance Steel & Aluminum Co.'s deal to buy metals distributor Earle M. Jorgensen. Shares of Reliance rose nearly 10 percent to $77.09 a share, while Jorgensen shares rose 3.3 percent to $13.66, just above the deal price. DreamWorks Animation SKG got a lift from Walt Disney Co.'s $7.4 billion deal to acquire Pixar Animation Studios. Shares of DreamWorks rose 12.1 percent, or $2.98 a share, to $27.55. On the downside On the Downside is an EP by the San Diego, California band Counterfit, released by Alphabet Records in 2000. It was the band's first EP, recorded shortly after the members had relocated to San Diego from Fairfield County, Connecticut. , shares of Calabasas-based Ryland Group Inc. fell 9.8 percent to $70.35 after orders for new homes fell 4.7 percent, with weakness in Las Vegas and Phoenix. |
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