The Dow declined 155 to close at 18,011, the S&P lost 13 to 2,107 and the Nasdaq lost 28 to 5,070.
The middle of the day has become awfully quiet on the U.S. stock market, as index funds and computer models push the action toward the end of the trading day. As more volume migrates to the end of the session, liquidity-or the ability to buy or sell stocks easily at a given price-is harder to come by during midday hours, traders said.
American corporations’ appetite for stock buybacks continues to grow. Corporations have amassed large cash stockpiles in the years since the financial crisis and they have plowed a lot of it into shareholder friendly activities like buybacks. Such activities have contributed significantly to the 6 year bull market.
All this and more in the Wall Street Wrapup from last week.
