With Greece deals stalling and the broad market dropping, investors may be wondering: "Has 2012 been too good to be true?"
Granted, the slow and steady gains have quietly put the major indexes back on solid footing, but their closing out the week with their worst performance of the year doesn't mean this run is done. The U.S. economy is showing strength, and if you are into technical indicators, they continue to point upward. Considering January's historic run, a little pullback is not a bad thing.
Let's take a closer look at how the three major indexes fared today along with some notable movers.
Gain / Loss
Gain / Loss %
Dow Jones Industrial Average
Source: Yahoo! Finance.
All three indices closed firmly in the red, with the Nasdaq declining 0.8% (making it the worst-performing index), while the S&P's 0.7% drop helps it maintain its lengthy 30-session streak without a 1% or greater decline. All but one of the Dow's thirty components finished with losses, most of them under 1%, a distinct improvement from earlier in the day. The biggest outlier in the Dow is Alcoa, down 3.5% as it struggles against excess capacity across the industry, low prices, and squeezed margins.
But it could have been worse. Much worse. Just ask investors in K-V Pharmaceuticals
Unfortunately for K-V, the public outcry has indeed spurred the Government into action. The FDA would not stop doctors from compounding a drug similar to Makena and K-V slashed its price from $1,500 to $690. The company signaled months ago that at a lower price K-V would have trouble turning a profit, and now management is doubtful over the company's ability to remain a going concern. I would believe them.
From a company with little revenue to a company with none, today's top performing stock is Cobalt Energy
The best approach
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David Williamson holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.