Dow's Rally Belies Negative Internal Readings On NYSE

The rally in the broader market indexes, outside of the technology friendly Nasdaq Composite is not being supported by strong internal readings. The Dow Jones Industrial Average surged 258 points in afternoon trade, the S&P 500 rallied 0.4% and the Russell 2000 index of small-capitalization stocks ran up 1.7%. But on the New York Stock Exchange, the number of declining stocks outnumbered the number of advancers by a 1,543-to-1,488 margin. However, within the Dow, advancers were beating decliners by a score of 19 to 11, and advancers were topping decliners 330-175 in the S&P 500. The Nasdaq was just the opposite, as the Composite was down 0.5%, but on the exchange, advancers were outnumbering decliners 1,691 to 1,002.

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