What’s Boosting The Naz?
The Dow Jones Industrial Average
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immediately headed south on the open. The decline in U.S. stocks was
led by General Electric
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GE |
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by market value has failed to adequately show how it generates profit growth.
General Electric dropped for a second day after Pacific Investment Management
Co.’s Bill Gross, who manages the world’s biggest bond fund, said its finance
arm had too much debt. He said acquisitions inflated the company’s growth.
The Dow Jones Industrial Average is coming strongly off the lows of the day, but
is still lower for a third day in four, losing 120.88, or 1.2%, to 10,381.31.
Some 445 million shares traded on the New York Stock Exchange by 11:25 a.m. in
New York, down 4% from a week ago. Five stocks fell for every four that
advanced on the Big Board.
AOL Time Warner
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AOL |
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S&P 500 Index
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The Nasdaq Composite Index
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COMPQ |
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is fighting to break out to new intraday highs. The PHLX Semiconductor Index
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SOX.X |
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is helping buoy the choppy market.
Stocks extended losses after a report showed business at factories in the
Philadelphia region grew less in March than analysts expected. The Federal
Reserve Bank of Philadelphia’s general economic index registered 11.4, down from
16 in February. Analysts anticipated the index would climb to 18.
One of the few bright spots this morning is the PHLX Utility Sector
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Sector in positive territory are Duke Energy
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DUK |
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FE |
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Progress Energy
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PGN |
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Dana Corporation
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DCN |
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is pulling back from its high, and support is around
19.15. DCN has a
TradingMarkets.com RS3 rating of 94 and an uptrending
ADX of 64.
Americredit
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ACF |
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ascending triangle on the daily chart. ACF is carrying a
3-month relative strength rank of 99 along with an uptrending ADX of 38 from
TradingMarkets.com.
Progressive Growth
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PGR |
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Quest Diagnostics
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DGX |
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from the high following a thrust to the upside. DGX is holding a
3-month relative strength rank of 83 from TradingMarkets.com
Agilent Technologies
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A |
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an area near the 20-day moving average. A is carrying a
3-month relative strength rank of 89 along with an uptrending ADX of 36 from
TradingMarkets.com.