Daily Market Recap - 7/2/2009 7/1/2009 6/30/2009 6/29/2009 6/26/2009 6/25/2009 6/24/2009 6/23/2009 (Select another date to see market comments for that day.) Updated Each Business Day at Approximately 4:30 pm ET Extended holiday session concludes with the major indices posting their worst performance in weeks. System irregularities caused the New York Stock Exchange to remain open for an extra 15 minutes. Losses worsened in the supersized session. The Dow posted its third straight weekly loss. June's unemployment data failed to provide the sequential improvement that investors had expected causing stocks to drop precipitously. Nonfarm payrolls dropped 467,000 and the unemployment rate reached 9.5 percent. Treasury yields fell as investors priced in a smaller likelihood of a Fed rate increase following the jobs report. Exelon raised its hostile bid for NRG Energy to $7.45 billion, or $28.10 per share. In auto industry news, Ford reported the smallest sales decline of the year in June, topping rival Toyota. Lear said it will file for bankruptcy. General Motors reportedly may issue a new class of stock as early as next year. The Dow Jones Industrial Average descended 223 points to 8280. International Business Machines, Chevron and Exxon experienced the heaviest losses. Chevron shed $2.10 to $64.42, IBM slid $3.11 to $101.73 and Exxon fell $2.07 to $68.79. The S&P 500 receded 26 points to 896 and the NASDAQ retreated 49 to 1796. The Dow Jones Utility Average subtracted nearly 11 points to 350 while the Dow Transportation Average notched a 119 point loss to 3158. The small caps of the Russell 2000 gave up 20 points 497. Volume was light with 733 million shares trading on the New York Stock Exchange and 613 million shares being exchanged on the NASDAQ. Decliners bested advancers by a 5 to 1 margin on the New York Stock Exchange. On the NASDAQ, there were about 5 times the number losers versus winners. Gold dropped $8.75 to $929.50 per ounce. Oil sank $2.97 lower to $66.34 per barrel. US Treasury securities moved higher across the board. Recent yields were 0.16 percent for the 90-day bill, 2.43 percent for the 5-year note, 3.50 percent for the 10-year note and 4.32 percent for the 30-year bond. Markets are closed tomorrow for Independence Day. Have a good weekend! Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.