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Stocks Close Mixed, But These Two Sectors Display Bullish Moves

Stocks closed mixed Friday, with the Nasdaq composite lagging noticeably while a few sectors stood out for a fine performance.

X The Nasdaq lost 0.6%, hurt by weakness in semiconductors, data storage and internet stocks. The S&P 500 fell 0.1%. The Dow Jones industrial average added 0.1%. All three managed to close above the 50-day moving averages, which can be taken as a positive sign.

The Russell 2000 fell a fraction.

Volume was lower compared with Thursday, according to early numbers. Losers topped winners by 8-to-7 on the NYSE. But curiously, Nasdaq winners led losers by 11 to 10, which suggests the selling was concentrated on just certain areas of the composite.

Equifax (EFX) plunged nearly 14% to 123.23 in the highest volume in at least many years, after it disclosed late Thursday that hackers had breached its computers and may have stolen sensitive information on 143 million consumers.

A few other financial stocks fared much better.

Despite an expected rush of hurricane-related claims, insurance stocks led the market. Marsh & McLennan (MMC) leapt above the 81.10 buy point of a base-on-base pattern. Volume was more than double the average, a good sign for the breakout.

The New York-based firm provides insurance, reinsurance, risk management, human resources and other services. Its insurance broker industry group was one of Friday's best.

Moody's (MCO) edged above its 135.30 buy point. The provider of credit ratings for institutional investors saw slow trading, about two-thirds less volume than normal. That made the breakout suspicious.

Building industry stocks, as well some leisure and health care industry groups, also made gains of more than 1% in today's trading.

The medical products industry group is another one showing bullish behavior, with two more breakouts in the group Friday.

Baxter International (BAX) topped the 63.24 buy point of a flat base. ResMed (RMD) broke out past a 79.73 buy point of a cup-without-handle base. Although the price gains were strong, volume was disappointingly weak in both stocks. Still, the breakouts followed one by Boston Scientific (BSX) on Thursday. Shares of the medical device maker followed through on Friday, despite lackluster volume on that breakout.

Consolidated Edison (ED), a utility that serves the New York-New Jersey area, rose above the 85.23 buy point of a flat base. But volume was below average. Utility stocks have been trending higher, with the SPDR Utilities (XLU) ETF near record highs.

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