Consumer Confidence Blowout

Stocks are higher on a strong seasonal bias
and a much better than expected economic report. Consumer
confidence in December rose to 102.3, the highest level since July; consensus
was 94. Retail sales rose 2.7% for the week ending December 25
International Council of Shopping Centers and UBS.

Pfizer
(
PFE |
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PowerRating) received approval to market its
anti fungus drug, Vfend. PFE is trading at 26.99, up 0.48.

This is settlement day for some hedge funds–last day to trade and have
settlement in 2004.

Strong sectors are:  Internet
(
GIN.X |
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Biotech
(
BTK.X |
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(
HCX.X |
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PowerRating) +0.93%

Weak sectors are: Gold
(
XAU.X |
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(
XAL.X |
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-0.18%.

 

Blockbuster
(
BBI |
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Entertainment
(
HLYW |
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PowerRating).

Universal Health Services
(
UHS |
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JP Morgan raised its price target on Tyco
(
TYC |
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Lockheed
(
LMT |
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PowerRating) won a $109.2 million artillery rocket contract from
the Army.

Home Depot will sell appliances online; the
company will offer more than 1800 items, including refrigerators and
dishwashers.

Bear Stearns raised its rating on Amazon
(
AMZN |
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PowerRating) to outperform and
raised the price target to $55.

Bank of America raised its price target on Sirius to $5.25 and XMSR
to $44.

Brice Wightman