These Two Stocks Are Weighing On The Dow
The major indexes are mixed midday after digesting key
employment data. The pre-market release of a disappointing
nonfarm payrolls number initially had no effect on the market
as prices held firmly positive, though the regular session
has been met by some selling pressure. Weighing on he Dow are
Altria, which struggles with financial issues brought on by
legal woes, and Intel, which has had its estimates cut by UBS
Warburg. With conflict in Iraq continuing to stir things up,
the afternoon trading session may be quiet with market
players unwilling to take a position going into the weekend.
Volume is light, and breadth mixed with the NYSE slightly
positive and the Nadaq slightly negative. The Dow Jones
Industrial Average ($INDU.X) is +0.21% at 8,257.96. The
S&P 500 ($SPX.X) is +0.13% at 877.62. The Nasdaq ($COMPQ)
is -0.81% at 1,385.23. Leading today are airlines ($XAL.X),
+3.29%, insurance ($IUX.X), +1.33%, pharmaceuticals ($DRG.X),
+0.96%, and banks (BKX.X), +0.95%. Lag
Why Institutions Are Watching Closely Here
The markets ended the day mixed as mostly sideways price
action held onto modest gains for the week. From a news
perspective, the market has been looking good as we continued
to shrug off negative economic data. This morning,
disappointing nonfarm payrolls was a non event as the markets
op
Here’s Why The Market Is Reacting Well
The major indexes held narrow trading ranges for a session
that ended with slight losses. Price action moved sideways
throughout
This Could Be Critical For The Markets
The markets are mixed midday as price action moves mostly
sideways. With coalition forces on the outskirts of Baghdad,
tension has built up for what many believe to be the critical fight
of the war, and potentially a critical juncture for the
markets
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Here Are The Leaders Of This Rally
Stocks are nicely higher midday with good news on the war
front from coalition forces. Reports that a division of
Iraq’s Republican Guard was crushed put the buyers on the
offense at the open, and additional reports of another
division “hanging by a thread” have sustained the
day’s
Many Traders Are Not Holding Overnight…Here’s Why
Buyers were in force today as positive news on the
Coalition’s progress in Iraq gave sentiment a lift. Price
action gapped higher, then moved further north throughout the
session, with modest selling pressure going into the close.
Disappointing
This Is A Good Sign From A Leading Sector
The major indexes posted gains on the day as price action
crept higher throughout most of the session with overall good
feelings on the suspicion Saddam Hussein could be dead.
The leader of Iraq was to go on live TV midday but did not
show up. Disappointing manufacturing news had little effect
on the market, indicating stronger commitment from buyers who
did not seem to care. Any time we see the market go against
what the news suggests, it’s a sign of strength. This being
the
It’s The First Day Of The Quarter, Here’s Where The Money Is Going
The major averages are modestly higher midday on the heels
of negative manufacturing data. Volume is light and market
breadth positive, as traders continue to monitor progress in
Iraq
Why We May See Buying This Afternoon
The major indexes are in negative territory midday with light volume indicating a lack of trading interest for this final day of the first quarter. After gapping lower, price action hits intraday low after the Chicago PMI number slightly disappointed.-áThe Dow is being weighed down by bad news out
Here’s An Indication For Tomorrow’s Open
Despite the ‘window dressing’ effect, late-day selling indicates weakness going into
tomorrow’s session, as it’s often the smart money that closes
the day. Bellwether semiconductors and broker/dealers closed
at the bottom of
Volume Could Be Low Today, Here’s Why
The major averages are slightly negative midday, after
prices moved higher from lower opens while briefly testing
positive territory. With war in Iraq dominating speculation,
volume