TradingMarkets Mid-Day Movers
The major indices are holding in lower territory this
morning despite upbeat economic data. Existing home sales came in higher
than expected with 6.28 mln units sold vs. an expected 6.15 mln units.
Consumer confidence numbers also came in higher than expected.
Financial and housing stocks have also
moved lower over the course of the session, as some better than expected
economic data has offset recent optimism that the Federal Reserve is likely to
lower interest rates sometime in early 2007.
Nonetheless, strong gains by gold and oil
service stocks have helped to limit the downside for the broader markets. The
gains by gold stocks come as gold for February delivery is currently up $6.10 at
$636.40 an ounce. Crude futures are trading higher by 0.5% to $60.67.
From a quick glance at our new
PowerRatings
Heat Maps*,
we are continuing to see potential weakness in the overall markets and
especially in the Drug and Health Services sectors.
Stocks on the Move
Computer Sciences’
(
CSC |
Quote |
Chart |
News |
PowerRating) Federal Sector Unit Signs 110 Contracts
And Subcontracts Worth $643 Mln In Q3 (full
story). CSC shares are trading lower by 0.4%.
Sirius
(
SIRI |
Quote |
Chart |
News |
PowerRating) Stock Falls To Multi-Year Low (full
story). SIRI shares drop over 2% in the morning session.
German Federal Armed Forces Select Siemens
(
SI |
Quote |
Chart |
News |
PowerRating) And IBM
(
IBM |
Quote |
Chart |
News |
PowerRating)
To Modernize And Manage Non-military Information And Communications Technology (full
story). IBM shares are trading fractionally lower, while SI shares
rise by 1%.
Eaton
(
ETN |
Quote |
Chart |
News |
PowerRating) To Buy Argo-Tech For $695 Mln; Deal Expands Eaton’s
Aerospace Platform (full
story). ETN shares are trading fractionally lower.
Christopher & Banks
(
CBK |
Quote |
Chart |
News |
PowerRating) Dec. Same Store Sales Drops 7%, In Line
With Company View; Total Sales Down Slightly (full
story). CBK shares move lower by 0.6%.
For more stories as they happen, go to our
Breaking News section.
Market Snapshot
|
Dow | -20.35 | 12,490.22 |
| NASDAQ | -8.29 | 2,422.98 |
|
S&P 500 | -3.32 | 1,423.54 |
|
NYSE |
| |
|
Volume | 615,117,000 | 507,019,000 |
|
Advances | 1302 | 1063 |
|
Declines | 1771 | 1773 |
|
Up Volume | 213 | 173 |
|
Down Volume | 321 | 282 |
|
New Highs | 172 | 97 |
|
| 18 | 22 |
Strongest/Weakest Sectors
| Strongest Sectors | Weakest Sectors |
|
Amex Gold Bugs Index (HUI) | Dow Jones Internet Commerce Index (ECM) |
Morgan Stanley Healthcare Providers Index (RXH) | Amex Airline Index (OIX) |
Amex Natural Gas Index (XNG) | GSTI Internet Index (GIN) |
Economic News
The E.I.A. reports that crude oil inventories had a draw of 8.13 mln barrels
Existing Home Sales 6.28 mln vs 6.15 mln consensus
Consumer Confidence 109 vs 102 consensus
Darren Wong
darrenw@tradingmarkets.com
P.S.
Click here to use PowerRatings to identify stocks that could potentially
move higher in the next few days.
* PowerRatings Heat Maps is a powerful tool, which can help you make sense of
the markets in an instant. For a free trial to PowerRatings Heat Maps
click
here.