Relief Rally
A drop-off in November’s retail sales is giving stocks a boost Wednesday as
stocks begin trading with most of the uncertainty surrounding the Presidential
election finally lifting.
Retail sales fell 0.4% in November, which is significantly lower than the
0.3% increase analysts had expected. The number reinforces the view that the Fed
will be cutting interest rates sooner rather than later.
The Nasdaq futures are trading up 41 points, and the Dow futures are trading
up 35 points.
The S&Ps look to open up 5.20 points while the yield on the 10-year
Treasury is down to 5.31%
Wednesday Movers
In the rebounding telcos, WorldCom
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gains. WorldCom added 1 3/16 to 17 5/8 on Tuesday and is trading up to 17 7/8 in
pre-market activity.
Microsoft
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higher following Bush’s apparent victory. Moicrosoft closed Wednesday at 58 3/8
and is trading up to 60 1/4 in pre-market activity.
Yahoo!
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company potentially hooking up with Disney
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Yahoo! is currently trading up to 37 1/2 in pre-market activity.
In the B2Bs, Ariba
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of 10 1/8 to 76 3/4. Ariba is currently trading up to 79 in pre-market activity.