Stocks Stage Big Rally On Bush Win

  • November 3, 2004
  • Brice Wightman

Stocks are higher Wednesday
after a Bush win, rallying broadly on good volume as
traders are see more clarity and less uncertainty. Senator Kerry called
President Bush to concede and he is expected to speak at 2:00 PM ET. Biotech,
drugs, defense, energy and utilities are all strong. The Small Cap index made a
historic high.

Pfizer
(
PFE |
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Chart |
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PowerRating), Merck
(
MRK |
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PowerRating) and Bristol Myers
(
BMY |
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PowerRating)
are all higher on a Bush win.

Google
(
GOOG |
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PowerRating) broke the psychological $200 barrier before pulling
back.

Factory orders fell -0.4% in September. The ISM
manufacturing Index for October was 59.8.

Dow +122.04 10157.77
S&P 500 +13.66 1144.24
Nasdaq +22.58 2007.37

Strong sectors are:
Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating) +5.33%, Biotech
(
BTK.X |
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Chart |
News |
PowerRating)
+4.00%, Healthcare 
(
HCX.X |
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Chart |
News |
PowerRating)
+3.62%.

Weak sectors are: Semis

(
SOX.X |
Quote |
Chart |
News |
PowerRating) -0.37%.

The dollar is +0.28 at
84.86

Gold is +3.60 at 423.10

Crude Oil is -0.32 at 49.30

ce=”Arial” size=”2″ face=”Arial”>Volume is 835 million on the NYSE and
985 million on the Nasdaq.

Market breadth is positive.

NYSE Issues
Advancing 2436 Up Vol 685
Declining 718 Down Vol 87
Ratio 3.39 7.87
Nasdaq
Advancing 2139 Up Vol 694
Declining 745 Down Vol 219
Ratio 2.87 3.12

Stocks in the News

Time Warner
(
TWX |
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PowerRating) reported a lower Q3 profit.

Cigna
(
CI |
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PowerRating) beat by 0.43.

Prudential
(
PRU |
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Chart |
News |
PowerRating) beat by 0.15, and doubled its Q3 profit.

InterActive
(
IACI |
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News |
PowerRating) beat by 0.03.

Polo Ralph Lauren
(
RL |
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Chart |
News |
PowerRating) beat by 0.03.

KOS Pharma
(
KOSP |
Quote |
Chart |
News |
PowerRating) beat by 0.18.

Pepsi
(
PEP |
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Chart |
News |
PowerRating) reaffirmed guidance for 2004-2005.

Priceline
(
PCLN |
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Chart |
News |
PowerRating) beat by a penny.

Brice Wightman