The market closed lower at the end of the day. Volume was higher than yesterday's volume. A first distribution day in September. Weakness at Intel which announced that it was cutting 10,000 jobs. However, the major factor behind the negative sentiment in the markets today was the report indicating that wages rose at a higher pace than first estimated last quarter (4.9% vs estimate of 4.2%). A 16 year high. This may give a excuse for Fed to raise interest rates further. The only positive news is that oil prices fell to $67.50 despite the concerns over Iran’s nuclear program.
(NVEC) was down the first time after a series of strong up days. Volume has increased drastically. A sell in the order for the stock.
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