What’s Boosting Traders’ Expectations
Stocks are on the rise after Iraq said it
will accept United Nations weapons inspections, easing concern the U.S. will
attack the country.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) and Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) led gains as comments by
Federal Reserve Chairman Alan Greenspan boosted expectations that consumer
spending will sustain economic growth.
The statement by Iraq’s UN ambassador helped indexes rebound from initial losses
triggered by concern over investigations into Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) stock
ratings and Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) pricing practices.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) added 72.68, or 0.9%, to 8457.68 as of 12:38 p.m. New York time. The Standard & Poor’s 500
Index
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) rose 5.57, or 0.6%, to 888.52. The Nasdaq
Composite Index
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) added 16.83, or 1.3%, to 1366.39.
Strong Sectors: Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), Storage,
Internet, Airline
(
$XAL.X |
Quote |
Chart |
News |
PowerRating), Networking
(
$NWX.X |
Quote |
Chart |
News |
PowerRating),
Health, Consumer, Computer-Hardware and Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating)
Weak: Gold
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating), Oil Service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating)
and Grocers
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) is breaking out to
hit a 52-week high with increasing volume. Last night AMZN was featured in the
“Nightly DayTraders Report”. AMZN has a TradingMarkets.com RS3 rating of 85
and an up trending
ADX of 32.
Electronics for Imaging
(
EFII |
Quote |
Chart |
News |
PowerRating)
is rallying after pulling back from the high and testing its 20-day SMA.
EFII has a TradingMarkets.com RS3 rating of 84 and an up trending ADX of 24.
Actel Corp
(
ACTL |
Quote |
Chart |
News |
PowerRating) is rallying
after pulling back from the high and testing its 20-day SMA. ACTL has a
TradingMarkets.com RS3 rating of 84 and an up trending ADX of 40.
Pacific Sunwear
(
PSUN |
Quote |
Chart |
News |
PowerRating)
has pulled back to test its 20-day SMA. Today PSUN has unusually high volume and
an up trending
ADX of 33. PSUN is breaking out of a cup and handle on the intraday
chart.
Nasdaq Market Breadth
Adv: 1716 UpVol: 6814865
Dec: 1352 DnVol: 1643893
Net: +364 Net: +5170972
NYSE Market Breadth
Adv: 1658 UpVol: 47654950
Dec: 1465 DnVol: 33173853
Net: +193 Net: +14481097