No Sign Of Santa As Stocks Close Flat
TradingMarkets just released a proprietary stock rating
method called
PowerRatings.
This method ranks stocks 1-10 and the higher the rating, the greater the
one-week historical gain has been.
PowerRatings
were created by Cesar Alvarez, Director of Research for Connors Capital, LLC.
Cesar looked back at more than 5.5 million trades between Jan 1, 1995 and Dec 1,
2005. The results are based on the average 5-day performance.
To find out more about
PowerRatings
click here.
The major averages closed flat/mixed in very light pre-holiday trading.
With most traders away and little to drive the market, stocks turned in a rather
lackluster performance.
In today’s economic news, Durable Goods Orders rose more than
expected
(report),
while New Home Sales fell more than expected (report).
Treasuries rallied following the report on
housing sending the yield on 2-yr T-notes above the yield on 5-yr T-notes and
almost even with 10yr T-notes. The US Dollar recorded its best weekly gain
versus the Euro since early November.
Energy prices were
mixed with Crude Oil and Unleaded Gasoline closing higher, while Heating Oil and
Natural Gas closed lower. Natural Gas experienced a second day of heavy selling
but was able to close off session lows. For the week, Natural Gas lost more than
10%.
Albertson’s
(PowerRating)
(
ABS |
Quote |
Chart |
News |
PowerRating) spurns buyout bid; plans instead to sell under performing assets
piecemeal (full
story).
Best Buy Co.
(PowerRating)
(
BBY |
Quote |
Chart |
News |
PowerRating) buys Pacific Sales Kitchen and
Bath Centers in $410 Mln deal (full
story).
Tommy Hilfiger
(PowerRating)
(
TOM |
Quote |
Chart |
News |
PowerRating) agreed to be purchased by Apax for
$1.6 Bln (full
story).
For more stories as they happen, go to our
Breaking
News section.
| Dow |
-6.17 | 10,883.27 |
| NASDAQ |
+2.93 | 2249.42 |
| S&P 500 |
+0.54 | 1268.66 |
| NYSE | NASDAQ | |
| Volume |
1,285,772,000 | 978,375,000 |
| Advances |
2051 | 1561 |
| Declines |
1185 | 1423 |
| Up Volume |
694 | 605 |
| Down Volume |
523 | 308 |
| New Hi’s |
125 | 117 |
| New Lo’s |
55 | 36 |
|
|
Weakest Sectors |
| Networking ( NWX | Quote | Chart | News | PowerRating) |
Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
| Airline ( XAL | Quote | Chart | News | PowerRating) |
Oil ( XOI | Quote | Chart | News | PowerRating) |
| Retail ( RLX | Quote | Chart | News | PowerRating) |
Oil Services ( OSX | Quote | Chart | News | PowerRating) |
Durable Goods Orders Up 4.4% For Nov., Ex.-Trans
Down 0.6% (report).
New Home Sales Down 11.3% In Nov. To Rate Of
1.245 Mln. Units (report).
U. Of Mich. Consumer Sentiment Index At 91.5 For
Dec.
Ashton Dorkins