TradingMarkets Mid-Day Movers
This month TradingMarkets.com published new
research on what the month of December is likely to have in store for the
stock market. Our research, titled “Will
December Be Up Or Down?” showed some interesting results when comparing
all Decembers with those that have followed a market that is up after the first
11-months (as it is this year).
Stocks are mixed the morning after the Fed raised
rates for the 13th consecutive time. As expected the Fed raised rates by 25bp to
4.25% yesterday , however the language of the policy statement did change (report).
The major averages rallied immediately after the announcement but closed off
session highs. Today’s performance has been rather lackluster with the Nasdaq
indexes posting small losses while the Dow and S&P 500 are slightly higher.
In today’s economic news, the Mortgage Bankers
Association reported that Mortgage Loan Applications fell (report).
The Department of Commerce reported the Trade Deficit widened to a record high (report).
The Department of Labor’s report on Import/Export Prices showed a much larger
decline in Import Prices than forecast (report).
Finally, the Department of Energy’s EIA reported
Crude Oil and Gasoline inventories rose (report).
Energy prices are little changed.
Go to our
Economic
News section for more headlines and analysis, including comments by John
Snow made earlier today.
Treasuries are moving higher as traders digest
yesterday’s FOMC statement and the larger than forecast fall in Import Prices.
With the CPI out tomorrow, traders focus is now firmly on inflation, which is
supposedly tame (if you ignore the commodity markets at least) and therefore may
allow the Fed to end the cycle of raising rates.
Stocks On The Move
Wal-Mart (PowerRating)
(
WMT |
Quote |
Chart |
News |
PowerRating) buys Sonae’s retail
operations in Brazil for Euro 635 Mln (full
story).
Boeing (PowerRating)
(
BA |
Quote |
Chart |
News |
PowerRating) wins Qantas contract (full
story).
Charles River Labs (PowerRating)
(
CRL |
Quote |
Chart |
News |
PowerRating) reaffirms Q4, FY05 EPS outlook (full
story).
General Dynamics (PowerRating)
(
GD |
Quote |
Chart |
News |
PowerRating) is to buy Anteon (PowerRating)
(
ANT |
Quote |
Chart |
News |
PowerRating) for $2.2 Bln (full
story).
Honeywell (PowerRating)
(
HON |
Quote |
Chart |
News |
PowerRating) confirms FY05 guidance; sees FY06 EPS in range of
$2.35-$2.50; expects 9% rise in FY06 sales (full
story).
Winnebago Industries (PowerRating)
(
WGO |
Quote |
Chart |
News |
PowerRating) Q1 profit falls almost 26%, beats estimate (full
story).
For more stories as they happen, go to our
Breaking
News section.
| Dow |
+37.00 | 10,860.72 |
| NASDAQ |
-6.93 | 2258.07 |
| S&P 500 |
+1.97 | 1269.40 |
| NYSE | NASDAQ | |
| Volume |
1,013,624,000 | 871,903,000 |
| Advances |
1748 | 1295 |
| Declines |
1411 | 1615 |
| Up Volume |
543 | 248 |
| Down Volume |
370 | 575 |
| New Hi’s |
117 | 100 |
| New Lo’s |
79 | 30 |
|
|
Weakest Sectors |
| Airline ( XAL | Quote | Chart | News | PowerRating) |
Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
| Oil Service ( OSX | Quote | Chart | News | PowerRating) |
Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
| Oil ( XOI | Quote | Chart | News | PowerRating) |
Biotechnology ( BTK | Quote | Chart | News | PowerRating) |
Economic News
Mortgage Bankers Association’s Weekly Market Index Down 5.7%; Purchase Index
Drops 3.5%, Refinancing Index Falls 9.7%
Trade Deficit Widens To $68.9 Bln.
Import Prices Down 1.7% In November, Export Prices Down 0.9%
EIA: Oil Inventories Up 900,000 Barrels; Gasoline Inventories Up 1.8 Mln.
Barrels
Ashton Dorkins
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TradingMarkets in the 13th Annual
Stocks & Commodities
2006 Readers’ Choice Awards