Big News From Big Blue
Stocks are mixed after
oil inventories rose.Â
The EIA report showed crude inventories rose unexpectedly, with a build of 3.4
million barrels. It was the first rise in nine weeks. Oil has closed higher nine
days in a row. Traders are looking for the next milestone–a close above $50. Â Â
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) is weighing on the Dow after downgrade at Bank of America.
US GDP for Q2 expanded at a revised rate of 3.3%.
IBM said it created the world’s fastest computer,
the Blue Gene/L. It is 8 times faster than today’s fastest computers and uses 28
times less power.
| Dow | +14.15 | 10090.60 |
| S&P 500 | +1.43 | 1111.14 |
| Nasdaq | +20.70 | 1890.57 |
Strong sectors are: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+9.01%, Computer TechnologyÂ
(
XCI.X |
Quote |
Chart |
News |
PowerRating) +7.79%, Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating)
+3.90%.
Weak are: Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) -8.82% and Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating) -3.55%.
10-year Notes are -045 at 113 095
The dollar
is +0.13 at 88.24
Gold is +1.80 at 413.40
Crude Oil is -0.50 at 49.40
755 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1604 | Up Vol 274 |
| Declining | 1480 | Down Vol 289 |
| Ratio | 1.08 | 1.05 |
| Nasdaq |
||
| Advancing | 1816 | Up Vol 615 |
| Declining | 1027 | Down Vol 142 |
| Ratio | 1.76 | 4.33 |
Stocks in the News
Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating) will cut 5% of its workforce.
Cendant
(
CD |
Quote |
Chart |
News |
PowerRating) is near a deal to buy Orbitz
(
ORBZ |
Quote |
Chart |
News |
PowerRating).
American Greetings
(
AM |
Quote |
Chart |
News |
PowerRating) reversed a year earlier loss and posted a
quarterly profit.
Tractor Supply
(
TSCO |
Quote |
Chart |
News |
PowerRating) said Q3 earnings would miss estimates.
Harris Corp.
(
HRS |
Quote |
Chart |
News |
PowerRating) won a $275 million contract to modify the FAA’s
data infrastructure.
Goodyear
(
GT |
Quote |
Chart |
News |
PowerRating) was cut to neutral at JP Morgan.
Avici Systems
(
AVCI |
Quote |
Chart |
News |
PowerRating) was downgraded to underweight from equal weight
at Lehman.
International Paper
(
IP |
Quote |
Chart |
News |
PowerRating) was upgraded from neutral weight from
underweight at Prudential.
ConocoPhillips
(
COP |
Quote |
Chart |
News |
PowerRating) is seeking a 20% stake in Russia’s LUKOIL.
Brice Wightman