Late Swoon Thumps Indexes, ETFs (Daily ETF Wrap-Up)

Market Wrap-Up The Dow Jones Industrial Average lost ground rapidly at the end of the day despite a spate of positive earnings, closing below 10000 for the first time this week. The Dow shed 92 points to close at 9949. The Nasdaq dropped 13 to 2151, and the S&P 500 ended down 10 at 1081. Although there have been many instances of good earnings news in the last two weeks, investors may be consolidating. "This market has come very far, very fast," said Tommy Williams, president of Williams Financial Advisors. "You've got to have a sell discipline to protect the gains you've made." Wells Fargo ( WFC ) shares declined sharply after Rochdale Securities analyst Richard Bove recommended avoiding the stock and cut his rating to Sell from Neutral. Morgan Stanley ( MS ) shares were up after it reported a return to the black. As of 4:04... [read full story]                    

powered by