Despite a drop in jobless claims, the markets traded in negative territory with the Dow dropping 46 points to 11,983. Nasdaq fell 8 points to 2421.
On the upside
On the downsideGoldman Sachs analyst Mark Wienkes cut his price target for XM Satellite Radio Holdings (Nasdaq: XMSR) and Sirius Satellite Radio (Nasdaq: SIRI) saying that MP3 players and other technologies threaten both companies.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 734.