1:10 pm : After opening appreciably higher, the stock market closed Thursday just above the unchanged mark as participants traded listlessly in a shortened session just ahead of the Independence Day holiday. The Nasdaq, however, finished with a loss as weakness in the semiconductor industry weighed on the index. Notably, the latest batch of economic data also failed to spur buying interest.

The stock market fell to just above the 1250 mark shortly after opening bell, but was able to climb into positive ground amid broad-based gains. Still, the advance was limited as leadership failed to emerge. Action in the largest sector, technology (+0.1%), was offset by energy (-0.5%), which is the second-largest economic sector.

Technology’s advance was held in check by weakness among semiconductor companies. NVIDIA (NVDA 12.49, -5.54) plummeted 30% after providing a disappointing outlook to its investors after yesterday’s close. Shares of Intel (INTC 20.66, -0.27) also dipped in response to the announcement.

While economic news did little to kick start buying, it did not turn participants away. The unemployment rate for June came in at 5.5%, exceeding the 5.4% rate that was expected. Nonfarm payrolls fell by 62,000 during the month, unchanged from the prior month, but a bit more than economists expected. Jobless claims for the week ending June 28 totaled 404,000, reflecting a loosening labor market. The week’s claims topped the 385,000 claims economists expected and were up from the prior week. Importantly, the data are consistent with a modestly growing economy and are not far enough from expectations to alter such an economic outlook.

The June ISM Services Index came in at a less-than-expected

12:57PM Wyeth and Progenics receive approval from European commission for RELISTOR for Opioid-Induced Constipation in Advanced Illness Patients (WYE) 46.95 +0.51 : WYE and PGNX announces that the cos have received marketing approval for RELISTOR subcutaneous injection from the European Commission. RELISTOR is now approved in the 27 member states of the European Union as well as Iceland, Norway, and Liechtenstein for the treatment of opioid-induced constipation in advanced illness patients who are receiving palliative care when response to usual laxative therapy has not been sufficient. RELISTOR is the first approved treatment for OIC in the European Union.

12:50PM Conference/Events Calendar for the week of July 7th- 11th (Part 2 of 2) : Events of interest for the week of, July 7th- 11th, include: Thursday: C.E. Unterberg, Towbin Annual Growth Conference (Day 3 of 3); Cowen and Company Health Care Policy Conference; CRM Shareholders Meeting; GB, ULBI, FIGI, ICGN, MSO, DARA at Collins Stewart 4th Annual Growth Conference; GET, BXG at Oppenheimer & Co. Consumer Growth Conference (Day 3 of 3); Global Technology Community LLC 2nd Annual Rediscovering Biomarkers Conference; Marcus Evans Global Maritime Capabilities Conference (Day 3 of 3); Marcus Evans T&D Asset Management Conference; MEAD Shareholders Meeting; Opal Financial Group Family Office/Private Wealth Management Forum (Day 2 of 3); Opal Financial Group Public Funds Summit East (Day 2 of 3); RUS Shareholders Meeting; SHS Shareholders Meeting; SIGM Shareholders Meeting. Friday: Global Technology Community LLC 2nd Annual Rediscovering Biomarkers Conference; Marcus Evans T&D Asset Management Conference; MRVL Shareholders Meeting; Opal Financial Group Family Office/Private Wealth Management Forum (Day 3 of 3); Opal Financial Group Public Funds Summit East (Day 3 of 3); PEFF Shareholders Meeting; RMA Shareholders Meeting.

12:48PM Conference/Events Calendar for the week of July 7th- 11th (Part 1 of 2): : Events of interest for the week of, July 7th- 11th, include: Monday: CALW Annual Shareholders Meeting; GNB Annual Shareholders Meeting; MICC Extraordinary General Meeting. Tuesday: ATVI Special Meeting of Stockholders; AZZ Shareholders Meeting; BIDZ, CBRL, BKC, POOL, TLB at Oppenheimer & Co. Consumer Growth Conference (Day 1 of 3); C.E. Unterberg, Towbin Annual Growth Conference (Day 1 of 3); CCUR Special Meeting of Stockholders; Credit Suisse Group Emerging Market Currencies Conference; Deutsche Bank Securities FinTech 2008: Senior Executive Forum; DIOD, NMTI, TUNE, BTUI, ZIXI at Collins Stewart 4th Annual Growth Conference; DLM Analyst and Investor Day; HANS Business Update Conference Call; Marcus Evans Global Maritime Capabilities Conference (Day 1 of 3); SEL Annual Shareholders Meeting; Standard & Poors Introduction to ABCP Conference. Wednesday: AVNX Shareholders Meeting; Bank of America Securities Washington HealthCare Conference; C.E. Unterberg, Towbin Annual Growth Conference (Day 2 of 3); Credit Suisse Group Emerging Market Currencies Conference; Deutsche Bank Securities FinTech 2008: Senior Executive Forum; EMCI Investor Day Presentation; EPXI, MOSY, BMRN, ICGE, PTEC, CMTL at Collins Stewart 4th Annual Growth Conference; ETH Investor Conference; HTH Shareholders Meeting; IART Shareholders Meeting; Marcus Evans Global Maritime Capabilities Conference (Day 2 of 3); Merriman Curhan Ford, & Co. Advanced Lighting/LEDs 2008 Analyst Meeting; MNOV Analyst / Investor Meeting; MW Mid-Quarter Update; New York Society of Security Analysts Alternative Analysts' Forum; Opal Financial Group Family Office/Private Wealth Management Forum (Day 1 of 3); Opal Financial Group Public Funds Summit East (Day 1 of 3); Standard & Poors Fifth Annual Asset-Backed Commercial Paper Conference; Thomson Reuters Forum: Innovations In Quantitative Research; TSCO, DENN, AFCE, BKE, CKR, HAIN, TIF at Oppenheimer & Co. Consumer Growth Conference (Day 2 of 3); WEST Shareholders Meeting