DJIA Market Close for Thursday, May 31, 2012

The Dow closed down -26.41 (-0.21%) at 12,393.45. But it had to rally hard from 12,316.48 to get there. High for the day was 12,489.87.

So we say goodbye to May and good riddance. It was not a good month for markets. This was also the worst month for the Dow since May of 2010 when it gave up -7.9%. For May, the Dow was down -6.2%.

Today there were 14 Dow stocks up, led by BAC (+2.08%), DIS, T, TRV, CVX and AXP. That leaves 16 Dow losers led by CAT (-2.84%), XOM, INTC, IBM, PFE and HD.

As stocks stumbled, investors rushed toward the safety of U.S. Treasuries, pushing the 10-year yield to record lows.

The dollar was flat against the euro, slipped against the Japanese yen, and rose versus the British pound.

Oil for July delivery was down $1.29 to settle at $86.53 a barrel.

Gold futures for June delivery lost 80 cents to settle at $1,562.60 an ounce.

The price on the benchmark 10-year U.S. Treasury was up, pushing the yield to 1.57%, down from Wednesday’s record low close of 1.62%.

Imagine this, Facebook (FB) managed to gain 5%. Yeah, unbelievable. Starting about 2 pm EDT folks started buying and it went higher the rest of the session.

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