The Effect Of Declining Health
On the first trading day of the Thanksgiving
Holiday week, the Standard & Poor’s 500 Index
(
$SPX.X |
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PowerRating) is dropping
for a second day. Health insurers are a big reason for the downturn on the S&P.
UnitedHealth Group
(
UNH |
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PowerRating) and Aetna
(
AET |
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PowerRating) are leading the
decline after an SG Cowen analyst said their revenue growth may slow.
The S&P 500 fell 5.71, or 0.6%, to 924.07 as of 12:38 a.m. ET.
Health-care stocks contributed all of the drop. The Dow Jones Industrial
Average
(
$INDU |
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PowerRating) slid 36.89, or 0.4%, to 8767.82. The Nasdaq
Composite Index
(
$COMPQ |
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Chart |
News |
PowerRating) lost 5.23, or 0.4%, to 1462.97.
Losses were muted by a report that sales of previously owned, single-family
homes increased 6.1% to a 5.77 million-unit pace. That’s up from a
revised 5.44 million rate in September, the National Association of Realtors
said. Some analysts surveyed by Bloomberg News had expected 5.35.
Strong Sectors:
auto, tele. equip., storage, entertainment and semiconductor
Weak Sectors:
managed care, health care fac., publishing, beverage, bank, biotech, restaurant,
household prod., drug store, railroad and defense
Gilead Sciences
(
GILD |
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News |
PowerRating)
is breaking out to hit a new 52-week high. GILD is
experiencing strong volume for this time of the day.
Fairchild Semiconductor
(
FCS |
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PowerRating)
is breaking out of a cup-and-handle pattern with increasing volume. FCS has a
TradingMarkets.com RS3 rating of 91
and an up trending
ADX
of 32.
Cree, Inc
(
CRRE |
Quote |
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PowerRating)
is breaking above the 50% retracement line (drawn
from this years high to the lows) to hit a 9-month high. Volume is stronger than
normal. CREE has a
TradingMarkets.com RS3 rating of 94 and an uptrending
ADX of 34.
Cabot
Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating) is breaking above the 50% retracement line
(drawn from this year’s high to the lows) to hit a 6-month high. Volume is
stronger than normal. CCMP has a
TradingMarkets.com RS3 rating of 89.
Zoran
(
ZRAN |
Quote |
Chart |
News |
PowerRating) is breaking out of a cup
and handle pattern with increasing volume. ZRAN has a
TradingMarkets.com RS3 rating of 91.
Nasdaq Market Breadth
Adv: 1614 UpVol: 6857280
Dec: 1515 DnVol: 3369295
Net: +99 Net: +3487985
NYSE Market Breadth
Adv: 1530 UpVol: 43104820
Dec: 1654 DnVol: 47061972
Net: -124 Net: -3957152