Daily Market Recap -
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Updated Each Business Day at Approximately 4:30 pm ET
The major indices closed the session with minimal losses. For the week, the NASDAQ experienced a setback of more than 1 percent and the S&P 500 was off a bit but the Dow managed to move higher. After the close on yesterday Dell announced profits that were below expectations amid weak corporate demand. Its stock sank nearly 10 percent. D.R. Horton reported a loss of $231.9 million which was worse than expected with its Chairman noting that conditions were still challenging. The Gap reported a 25 percent quarter profit increase as it controlled its inventories which reduced mark-downs. Improvement at its Old Navy brand was also evident.

The Dow drifted 14 points lower to 10318. Caterpillar and Chevron dropped 66 and 57 cents, respectively. McDonald's and Merck were better by $0.56 and $1.13, respectively. The NASDAQ erased 10 points to 2146. The S&P 500 was off 3 points to 1091. The Dow Jones Utility Index added a point to 371. The Transportation Index subtracted 10 points to 3945. The small caps of the Russell 2000 fell a point to 584.

Volume totaled more than a billion shares on the New York Stock Exchange and 667 million shares were exchanged on the NASDAQ. Losers were ahead of winners by a 4 to 3 margin on the New York Stock Exchange. Decliners outnumbered advancers 7 to 6 on the NASDAQ. Gold surged $4.50 to $1140 per ounce. US Treasury securities were mostly unchanged. Recent yields were 0.01 percent for the 90-day bill, 2.17 percent the 5-year note, 3.36 percent for the 10-year note and 4.29 percent for the 30-year bond. 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.