Here’s How Retail Stacked Up In October

November 4, 2004
Brice Wightman

Stocks rallied Thursday on
lower oil, which made a 5-week low.
Strong volume and good internals sent the SPX
closing at its highest level in two years. Arafat is said to be critically ill
in a French hospital. A report mid-day that he died sent the market higher on
hopes a new leader would be better for the peace process.

Pfizer fell after a Canadian medical report said
the drug may have been responsible for 14 deaths. The Canadian government,
however, said the drug was safe.

Worker productivity for Q3 rose 1.9%, better than
expected, but the smallest advance since Q4 2002.Â

Jobless claims for the week of 10/30 fell 19,000,
more than forecast, to 332,000; theÂ 4-week moving average of fell 1500 to
342,000

Dow	+177.71	10314.76
S&P 500	+18.47	1161.67
Nasdaq	+19.30	2023.63

The dollar was -0.17 at
84.54

Gold was +2.40 at 429.60

Crude Oil was -2.13 at 48.82

ce=”Arial” size=”2″ face=”Arial”>Volume was 1.77 billion on the NYSE and
1.95 billion on the Nasdaq.

Market breadth was positive.

NYSE	Issues
Advancing	2595	Up Vol 1450
Declining	747	Down Vol 322
Ratio	3.47	4.50
Nasdaq
Advancing	1853	Up Vol 1179
Declining	1212	Down Vol 607
Ratio	1.52	1.94

Stocks in the News

MCI
(
MCIP |
Quote |
Chart |
News |
PowerRating) posted a $3.4 billion loss; revenue was $5.08 billion, down
15% from a year ago.

Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) guided lower. The company will report after the bell.

Electronic Data Systems
(
EDS |
Quote |
Chart |
News |
PowerRating) will delay its Q3 earnings report.

Hot Topic
(
HOTT |
Quote |
Chart |
News |
PowerRating) cut its Q3 profit outlook, now seeing 0.27.

Brice Wightman

Here’s How Retail Stacked Up In October

BUY THE FEAR, SELL THE GREED

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