SmarTrend(R) Market Close Wrap-Up -- June 30, 2009

Tue. June 30, 2009; Posted: 05:04 PM

Jun 30, 2009 (SmarTrend(R) Market Commentary via COMTEX) -- AIG | Quote | Chart | News | PowerRating -- Last Updated: June 30th, 2009: 4:45 PM ET --- Market indexes fell sharply during Tuesday trading upon the release of lower consumer confidence from the Conference Board, which reported an unexpected fall to 49.3 in June from 54.8 in May. Falling below the recently-surpassed 50 mark put a wet blanket on investors' optimism that economic indicators were leveling out to prepare for a rise. The Treasury reported that the number of homeowners at least two months behind payments or in foreclosure rose from the previous quarter, with many new additions from people with good credit. Regardless of the troubling data, indexes made up some ground near the end of trading, and the S&P 500 recorded its best quarter since 1998, gaining 15% in the April-June period. Telecom industry stocks led the way down, losing 1.72%, followed by basic goods, which fell 1.27%. AIG (NYSE:AIG) lost 12.8% on the addition of a CDS portfolio risk factor to its 2008 annual report. The Dow Jones Industrial Average fell 0.97% to 8,447.00, the S&P 500 fell 0.85% to 919.32 and the Nasdaq Composite fell 0.49% to settle at 1,835.04.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on American Internat Group (AIG) click here. American Internat Group (AIG) has Short Term PowerRatings of 5. Details on American Internat Group (AIG) Short Term PowerRatings is available at This Link.

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