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Market Events

16:20 ET Dow -0.30 at 9961.92, Nasdaq -10.07 at 1839.02, S&P -2.13 at 1084.07: [BRIEFING.COM] Like they have in so many sessions before, the major indices set their session highs in the first few minutes of trading - and then spent the rest of the day trading in modestly lower territory... The hangover left from last Friday's trade - in which the indices plunged 0.9-2.2% and the Nasdaq set a new yearly low - was felt in today's action and resulted in negative breadth figures and weak sector leadership... Technology, health care, retail, material, and homebuilding posted noticeable losses and trapped the market below the unchanged mark... Health care itself suffered from deep pullbacks in biotech and managed care - the latter due to a California insurance commissioner's decision to reject the merger of WellPoint Health (WLP 105.04 -4.74) and Anthem (ATH 88.06 -0.74) late Friday - and homebuilding dropped lower in a profit-taking move off the better than expected June Existing Home Sales report (6.95 mln versus the consensus of 6.65 mln)... Not every industry group, however, took in hit in the lackluster trading... Financial edged higher following American Express's (AXP 48.90 +0.79) upside surprise in its Q2 (June) report... Industrial conglomerate also performed well in response to a Smith Barney Citigroup upgrade of United Technologies (UTX 93.00 +0.91) to Buy from Hold... The aforementioned can explain the Dow's relatively unchanged finish... SOX -1.3... Nasdaq -10.07 at 1839.02... NYSE Adv/Dec 1062/2214... Nasdaq Adv/Dec 994/2114.