New NYSE Lows Outnumbering New Highs For 1st Time In a Month

The number of stocks on the NYSE that hit 52-week lows is outnumbering the number that reached new highs on Thursday for the first time in a month, and for just second time since late February. With the Dow Jones Industrial Average falling 121 points to 3 1/2-week lows, new NYSE highs fell to 34 in morning trade, from 84 on Wednesday, while new lows rose to 41 from 9. The last time new lows beat new highs was May 19, when the Dow bottomed at a 2-month low. The time before that was Feb. 24, when the Dow fell as much as 266 points intraday before closing up 53 points. The last time new lows topped new highs in back-to-back sessions was the 10-session streak ending Feb. 16, a two-week period which included the Dow closing at a 2-year low of 15,660.18 on Feb. 11.