Two Reasons For Rise In Treasuries
U.S. Treasuries are on the rise for a third day in four. Two reasons for
this are declining stocks and speculation the U.S. will invade Iraq. Both the
Dec.10-year note
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trading higher today.
Today is the FOMC meeting and the consensus is that the policy makers leave the
benchmark interest-rate target unchanged, traders said. A Fed announcement is
due at 2:15 p.m. Washington time. The Treasuries could get a boost if the
Federal Reserve says weakness is still the major risk to the economy.
The Dow Jones Industrial Average
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and Standard & Poor’s 500 Index
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six after more worries on corporate earnings. Both Weyerhaeuser
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the third-biggest wood-products company and Maytag
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third-largest household appliance maker said that earnings will lag forecasts.
Other factors pressuring the markets are continued concerns over a possible U.S.
attack of Iraq. Nov.
crude-oil futures
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demanded United Nations action against Iraq, saying the Persian Gulf oil
producer has plans to deploy weapons of mass destruction.
Separately, Xerox
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federal prosecutors are probing its accounting.
The Nasdaq Composite
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been the strongest of the three indices, but has now retreated to the down-side.
Express Scripts
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pullback from its recent high. ESRX is carrying a
3-month
relative strength rank of 93 from TradingMarkets.com
Invision Technologies
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is rallying from the 50-day moving average after a pull-back from the high. INVN
has a
TradingMarkets.com RS3 rating of 96 and an up trending
ADX of 30.
Biosite
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thrust higher. The stock is holding a
3-month
relative strength rank of 98 from TradingMarkets.com.
L-3 Communications
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is rallying from the 20-day moving average after a
pull-back from the high with increasing volume. L-3 has a
TradingMarkets.com RS3 rating of 93.
Nasdaq Breadth
Adv: 1148 UpVol: 321535800
Dec: 1973 DnVol: 485984376
Net: -825 Net: -164448576
NYSE Breadth
Adv: 944 UpVol: 18166713
Dec: 2214 DnVol: 73007340
Net: -1270 Net: -54840627