Stocks Close Lower On Higher Oil
Stocks fell Monday on higher crude prices and a weaker-than-expected economic
report.
The ISM Non-Manufacturing Index for November was
58.5 (report).
Comments made today by President Bush and the Fed’s Olson can be found in
our
Economic News section.
Bart Barnett, Managing Director, Listed Trading at Morgan Keegan
says “I think the averages are doing a pretty nice job of hanging in here.
We’ve seen a little pullback in some of the financials and oil service stocks,
but they were up today so I think the market is trying to hold on to some
gains.”
Monsanto
(
MON |
Quote |
Chart |
News |
PowerRating) guided Q1 higher.
General Motors’
(
GM |
Quote |
Chart |
News |
PowerRating) GMAC division will sell $20 billion in car
loans to the Bank of Nova Scotia for five years.
A
NYSE seat sold for a record $4 million today, matching last week’s
sale price.
Noven Pharmaceuticals
(
NOVN |
Quote |
Chart |
News |
PowerRating) received approval for an
ADHD patch.
Strong sectors were:Â Â Â Â Â Oil
(
XOI |
Quote |
Chart |
News |
PowerRating) +0.61%Â Â Â Â Â Â Â
Natural GasÂ
(
XNGI |
Quote |
Chart |
News |
PowerRating) +1.93% Â Â Â BrokersÂ
(
XBDI |
Quote |
Chart |
News |
PowerRating) +1.93%
Weak sectors were:Â Â Â
Semis [SOX||SOX]
-0.73%Â Â Â Â AirlinesÂ
(
XALI |
Quote |
Chart |
News |
PowerRating) -1.93%Â Â Â Â
InsuranceÂ
(
IUX |
Quote |
Chart |
News |
PowerRating)
-0.36%Â Â Â Â
Â
|
|
-42.50 | 10,835.01 |
| -15.73 | 2257.64 | |
| -3.00 | 1262.09 |
More stocks on the move:
Starbucks (SBUX)
reported November comps rose 7%–much higher than the 4.4% anticipated.
Ford (F)
will close plants in St. Louis, Atlanta and St. Paul; 7500 workers are
employed at these locations.
Novell (NOVL)
beat by 0.04, ex-items.
Dell
(
DELL |
Quote |
Chart |
News |
PowerRating)
was upgraded to strong buy at Raymond James.
US Steel
(
X |
Quote |
Chart |
News |
PowerRating)
was the subject of a positive article in Barron’s , in which Elm Ridge Capital
values the stock at more than $100/share..
Brice Wightman
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