These Stocks Are Affected By Confidence
After having a robust day yesterday, the
markets looked like they would continue the follow-through today and they did,
briefly. U.S. stocks are dropping for the first time in three days after a
report showing a bigger-than-expected drop in consumer confidence diluted
optimism for an economic rebound. General Electric
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GE |
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and Intel
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The report dragged down shares of consumer product maker Procter & Gamble [PG|PG]
and home-improvement chain Home Depot
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HD |
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Wal-Mart Stores
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WMT |
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TGT |
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positive, helping to limit losses in the S&P 500.
The Nasdaq
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$COMPQ |
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trading day and then the less-than-enthusiastic consumer confidence numbers
caused the Nasdaq to retreat to the worst numbers of the day.
The Dow
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$INDU |
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dropped on the poor consumer confidence results.
The Dow is now trading up off the worst levels of the day. The S&P 500
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$SPX |
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is following a similar pattern.
Gold is higher today. The April gold futures
(
GCJ2 |
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Index
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$XAU.X |
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ABX |
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Newmont Mining
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NEM |
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AU |
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well.
Adelphia Communications
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ADLAC |
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staging a potential false rally off its recent low. ADLAC has a
3-month relative strength rank of 16 with and uptrending
ADX of 41 from TradingMarkets.com.
QLogic
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QLGC |
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possible false rally off its recent low. QLGC is holding a
3-month relative strength rank of 9 from TradingMarkets.com
Torro
(
TTC |
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breaking out of an ascending triangle. TTC has a
TradingMarkets.com RS3 rating of 88 and an up trending
ADX of 51.
Boeing
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BA |
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is trading in a triangle.
BA carries a
3-month relative strength rank of 90 from TradingMarkets.com.