The stock market appears to be rising, as the S&P 500 SPX edged up 0.2% and the Nasdaq Composite COMP rallied 0.7%, but exchange data indicates that the market of stocks is actually declining. The number of declining stock outnumbered advancers 1,411 to 1,330 on the New York Stock Exchange (NYSE) and 2,004 to 1,772 on the Nasdaq exchange, while the volume of declining stocks made up 53.7% of the NYSE’s total volume but just 34.4% of the Nasdaq’s volume. Helping bolster the S&P 500 and Nasdaq was strength in technology stocks, with the Technology Select Sector SPDR exchange-traded fund XLK rising 1.3%. Other stock market trackers were more indicative of the market’s overall weakness, as the Dow Jones Industrial Average DJIA slumped 122 points, or 0.4%, and the Russell 2000 index of small capitalization stocks RUT shed 0.3%.
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