5 Signs of Relief for Markets
The new SEC rules on the single stock circuit breakers were published today in the Federal Register. This now begins a 10-day public commentary period, which are due on or before June 3, 2010. The SEC will then decide to make the rules immediately applicable, or modify them in response to the comments.
The cites for the Federal register are as follows:
NYSE: 75 FR 28831 (May 24, 2010)
NYSE Amex: 75 FR 28837 (May 24, 2010)
NYSE Arca: 75 FR 28830 (May 24, 2010)
Elsewhere, it's a quiet summer day — and that's a good thing.
This has all the characteristics of a quiet summer day; but given the recent volatility, that is being greeted with relief rather than yawns:
1) euro down against dollar and yen but European equities close on either side of positive or negative (France and UK up, Germany down fractionally);
2) NYSE consolidated equity volume light, not even 2.7 billion share at 1 pm ET.
3) narrow trading range, with Dow moving in a less than 100 point range
4) VIX moving down all morning, now in mid-30s where many anticipate it will remain through much of the summer;
5) 3-2 advancing to declining stocks very normal, compared to wild swings in May.
- Regulators May Never Know Cause of 'Flash Crash'
- Germany Prepares for $13 Billion 'Debt Guillotine'
- Financial Reform Bill Is a ‘Disaster’: Sen. Gregg
Top S&P Gainers By Percentage:
(as of this writing)
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