Week Start For NASDAQ

Monday 18th August 2008 did not proved to be a very fruitful session for the stock market bulls in NASDAQ stock market. The NASDAQ closed on 2416.98 resulting in the overall decrease of -35.54. The market collapsed mainly due to the lower trading in the crude oil and weakness in the financial sector. Regardless of lower trading in the NASDAQ stocks, the oil prices have climbed higher up to $114 per barrel. Heavy declines were seen in the financial sector as each of its industry groups are showing a considerable amount of loss. Thrifts and Mortgages (-4.9%) was one of worst performers of the session. Citigroup (C 18.17, -0.38), JPMorgan Chase (JPM 37.54, -0.53) and Bank of America (BAC 30.02, -0.68) are some of the NASDAQ losers. The technology sector (-0.6%) is still trading with losses. BHP Billiton (BHP 65.40, +0.18) reported a considerable amount of profit. The utility sector (+0.2%) and the energy sector (+0.1%) traded in the positive territory and were the NASDAQ top gainers.