What Thursday’s Volume Shows
At just past the half way point of today’s trade,
the three major indices are trading positive as consumer lenders rallied,
following HSBC Holdings Plc’s
(
HBC |
Quote |
Chart |
News |
PowerRating) agreement to buy Household
International
(
HI |
Quote |
Chart |
News |
PowerRating) and a government report showing better-than-forecast
retail sales.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) sparked gains in computer-related shares after saying
it will buy back almost $9 billion in stock.
Gains in benchmark indices were limited by a slide in Honeywell
(
HON |
Quote |
Chart |
News |
PowerRating) and defense
contractors such as Lockheed Martin
(
LMT |
Quote |
Chart |
News |
PowerRating) after Iraq’s acceptance
yesterday of UN weapons inspections. Volume at the NYSE and Nasdaq remains moderate at
best, though, so it is worth noting that there isn’t as much involvement on the
part of investors as the standing of the indices might suggest.
The Standard & Poor’s 500 Index
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) rose 15.41, or 1.8%, to 897.94 as of 12:28 p.m.
ET. The Dow Jones Industrial
Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) added 91.27, or 1.1%, to 8489.76. The Nasdaq
Composite Index
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) added 32.07, or 2.4%, to
1393.41.
Strong Sectors: Wireless Service, Cons. Finance, Homebuilding,
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), Oil Service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), Aluminum,
Chemical, Semiconductor
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), Comp. Hardware,
Tele. Equip., Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating), Drug
(
$DRG.X |
Quote |
Chart |
News |
PowerRating),
Bank
(
$BKX.X |
Quote |
Chart |
News |
PowerRating), Brokerage
(
$XBD.X |
Quote |
Chart |
News |
PowerRating), Transport,
Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) and Energy.
Weak Sectors: Defense and Engineering.
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) is breaking out to
hit a 52-week high with increasing volume. AMZN has a TradingMarkets.com RS3
rating of 85 and an uptrending
ADX of 32. AMZN is trading at 21.34 up .93.
Actel Corp
(
ACTL |
Quote |
Chart |
News |
PowerRating) is rallying
after pulling back from the high and testing its 20-day SMA. ACTL has a
TradingMarkets.com RS3 rating of 84 and an up trending ADX of 40. .
Black Box
(
BBOX |
Quote |
Chart |
News |
PowerRating) is rallying from a
pullback from the high after testing its 20-day moving average. BBOX has a
TradingMarkets.com RS3 rating of 84 and an uptrending ADX of 37.
Cost Plus
(
CPWM |
Quote |
Chart |
News |
PowerRating) is breaking out to a
5-month high with increasing volume. CPWM has a TradingMarkets.com RS3 rating of
81 and an uptrending ADX of 26.
Harman Intl
(
HAR |
Quote |
Chart |
News |
PowerRating) is rallying from a
pullback from the high with increasing volume. HAR has pulled back to test the
20-day simple moving average. HAR has a TradingMarkets.com RS3 rating of 86 and
an uptrending ADX of 24.
Nasdaq Market Breadth
Adv: 2072 UpVol: 7505472
Dec: 1048 DnVol: 1180218
Net: +1024 Net: +6325254
NYSE Market Breadth
Adv: 2283 UpVol: 72616743
Dec: 875 DnVol: 12478960
Net: +1408 Net: +60137783