Wall Street Gains in July Best This Year

Filed under: Market Matters, Economic Data, S and P 500, Recession

Wall Street has been on a tear lately. The major indexes gained 7% during the month of July. That's coming off a 14% decline in May and June. Trading volume was light, about 7.63 billion shares, compared with last year's 9.65 billion. Advancing stocks outnumbered losing stocks by a three to two margin. The S&P 500 is barely squeaking above its 200-day moving average.

Traders are torn between strong earnings and weak economic data. For the most part, earnings of major corporations topped analysts' estimates. But the numbers on the economy show that the recovery is slowing.

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Wall Street Gains in July Best This Year originally appeared on BloggingStocks on Sun, 01 Aug 2010 13:40:00 EST. Please see our terms for use of feeds.

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