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Market Wrap-Up for Oct.29 (PG, CRR, AVP, BHP, X, MRK, more)

By Dividend.com Staff
October 29th, 2009

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We definitely worked off any oversold conditions that may have existed all in one day today. The recent manic market environment has certainly made it difficult for investors to determine a proper entry point. We are doing our best to navigate our way through these conditions as well.

Volume eased from yesterday’s levels as we did 5.6 Billion shares on the NYSE and 2.31 Billion shares on the Nasdaq. As for specific stocks today, earnings helped lift some of our Dividend picks, such as Aflac (AFL), Procter & Gamble (PG), and Carbo Ceramics (CRR). As for other companies we follow but do not recommend, Agnico-Eagle Mines (AEM), AvalonBay Communities (AVB) and Avon Products (AVP) had down days on the heels of their results.

Commodity stocks were big winners today, with Gold (GLD) and Oil (USO) prices spiking. Stocks benefiting from the jump, included BHP Billiton (BHP), U.S. Steel (X), and Consol Energy (CNX). Despite the rally, there were dividend stocks that did not participate in the move up. They included Merck (MRK), General Dynamics (GD) and Monsanto (MON).

We’ll keep subscribers posted of any changes to our “Best Dividend Stocks” list.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.