Dow, S&P 500 rally despite bad market breadth

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MARKET PULSE

While the benchmark indexes suggest the stock market is rising, reading of exchange data indicated the actual market of stocks is falling, with smaller capitalization stocks, which are more plentiful, seeing broad weakness. The number of stocks losing ground is outnumber gainers 1,807 to 1,343 on the NYSE, as 67.2% of total volume is in declining stocks. On the Nasdaq, decliners are outnumbering advancers 2,169 to 1,702, but advancing volume has a slight edge over down volume with 55.8% of total volume. Meanwhile, the Dow Jones Industrial Average is up 72 points, or 0.2%, with 18 of 30 components gaining ground, the S&P 500 is rallying 0.8% and the Nasdaq Composite is surging 1.6%, while the Russell 2000 is shedding 1.0%.

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