Stocks To Focus On
The growth and manufacturing reports released
this morning showed that the economy is growing faster than expected. This
good news sparked a rally and helped move the S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating) higher. The advance in stocks increased when a report that
measures the manufacturing in the Chicago area showed expansion this month for
the first time since July 2000.
Companies helping push the S&P 500 are AOL Time Warner
(
AOL |
Quote |
Chart |
News |
PowerRating), General
Electric
(
GE |
Quote |
Chart |
News |
PowerRating) and General Motors
(
GM |
Quote |
Chart |
News |
PowerRating).
Today’s gains are helping the S&P 500, but the
index is getting ready to post a second month of losses after today’s close,
dropping 1.6%. The Nasdaq has fallen 10%, while the Dow has risen
3.2% for the year.
The Dow
(
$INDU |
Quote |
Chart |
News |
PowerRating) is trading in a sideways channel, and the Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) is trading off between positive and negative numbers. The Dow outpaced other major indexes this month, led by defense contractors.
The PHLX Forest & Paper Products Sector Index
(
$FPP.X |
Quote |
Chart |
News |
PowerRating) is forming an
ascending triangle and is threatening to take out its highs of Sept. 2001.
Stocks helping move the FPP Index today are: Temple Inland
(
TIN |
Quote |
Chart |
News |
PowerRating),
Rayonier
(
RYN |
Quote |
Chart |
News |
PowerRating) Georgia Pacific
(
GP |
Quote |
Chart |
News |
PowerRating) and Louisiana
Pacific
(
LPX |
Quote |
Chart |
News |
PowerRating).
The Morgan Stanley Consumer Index
(
$CRX.X |
Quote |
Chart |
News |
PowerRating)
is trending higher today, up 1.70 to 589.39. Some of the stocks helping push the consumer index are: Abbott Labs
(
ABT |
Quote |
Chart |
News |
PowerRating),
Automatic Data Processing
(
ADP |
Quote |
Chart |
News |
PowerRating), American International Group
(
AIG |
Quote |
Chart |
News |
PowerRating),
Grainger
(
GWW |
Quote |
Chart |
News |
PowerRating), Newell Rubbermaid
(
NWL |
Quote |
Chart |
News |
PowerRating), Sysco
(
SYY |
Quote |
Chart |
News |
PowerRating) and
Walgreen
(
WAG |
Quote |
Chart |
News |
PowerRating).
The PHLX Bank Sector Index
(
$BKX.X |
Quote |
Chart |
News |
PowerRating)
trading stronger today, up 9.47 to 827.55. Some of the stocks pushing the Banking sector are Citigroup
(
C |
Quote |
Chart |
News |
PowerRating), Bank of
America
(
BAC |
Quote |
Chart |
News |
PowerRating), Wachovia
(
BAC |
Quote |
Chart |
News |
PowerRating), Fifth Third Bancorp
(
FITB |
Quote |
Chart |
News |
PowerRating), Suntrust
Banks
(
STI |
Quote |
Chart |
News |
PowerRating) and Comerica
(
CMA |
Quote |
Chart |
News |
PowerRating).
The Oil Index
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) is strong this
morning due to the news yesterday regarding shrinking inventories in oil and
gasoline supplies. Some of the stocks stronger today and helping push the
index higher are Amerada Hess
(
AHC |
Quote |
Chart |
News |
PowerRating), Chevron Texaco
(
CVX |
Quote |
Chart |
News |
PowerRating), Exxon
Mobil
(
XOM |
Quote |
Chart |
News |
PowerRating), Phillips Petroleum
(
P |
Quote |
Chart |
News |
PowerRating) and Total Fina
(
TOT |
Quote |
Chart |
News |
PowerRating).
The Morgan Stanley Cyclical Index
(
$CYC.X |
Quote |
Chart |
News |
PowerRating)
is trading up again today. Stocks helping push up the cyclical index are
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating), CSX Corp.
(
CSX |
Quote |
Chart |
News |
PowerRating), Fedex
(
FDX |
Quote |
Chart |
News |
PowerRating), Honeywell
(
HON |
Quote |
Chart |
News |
PowerRating), PPG
Industries
(
PPG |
Quote |
Chart |
News |
PowerRating), United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) and Whirlpool
(
WHR |
Quote |
Chart |
News |
PowerRating).
Eaton Corp.
(
ETN |
Quote |
Chart |
News |
PowerRating) is pulling back
following a thrust to the upside. ETN is carrying a
3-month relative strength rank of 80 from TradingMarkets.com.
Accredo Health
(
ACDO |
Quote |
Chart |
News |
PowerRating) is trading in a
triangle near the recent high. ACDO is holding a
3-month relative strength rank of 97 from TradingMarkets.com.
Weatherford
International
(
WFT |
Quote |
Chart |
News |
PowerRating) is pulling back from the high. WFT has a
TradingMarkets.com RS3 rating of 96 and an uptrending
ADX of 30.