Did Santa Arrive Early This Year?
Stocks fell for a fourth straight day even
though the economic data was good, leaving some wondering if Santa came early
this year.
The PPIÂ fell 0.7% in November, the largest monthly
decline since April 2003. Ex food and energy, the Core PPI rose 0.1%. Housing starts rose 5.3% in November;;
building permits rose
2.5%.
Scott Wren, senior Equity Strategist at A.G. Edwards
said “I think the numbers that came out–housing starts and producer price
index–were good. I was paying attention more to the PPI only because I think
the most important thing right now for the market is what the Fed’s doing, and
the Fed’s certainly going to closely watch these inflation indicators to see if
any of this spills over to the consumer level, but we’re not seeing it and I
think the data today was pretty good.”
After the close,
Nike
(
NKE |
Quote |
Chart |
News |
PowerRating)
reported $1.14.
NKE’s
PowerRating is 6.
Electronic Arts
(
ERTS |
Quote |
Chart |
News |
PowerRating) said it expects Q3 and Q4 as well as
fiscal 2006 guidance to be below previous guidance. The stock was halted after
hours. ERTS’s
PowerRating is 7.
Morgan Stanley
(
MWD |
Quote |
Chart |
News |
PowerRating)
reported $1.42, well above expectations. Revenue was $7 billion, also above
estimates. Â MWD‘s
PowerRating is 7.
Chevron
(
CVX |
Quote |
Chart |
News |
PowerRating)
said it made a “significant” deepwater oil find in the Gulf of Mexico.
CVX‘s
PowerRating is 5.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) fell to its lowest levels since 1987.
Strong sectors were:Â Â Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating) +2.07%Â Â Â Â Â HealthcareÂ
(
HMO |
Quote |
Chart |
News |
PowerRating)
+1.37%Â Â Â Â OilÂ
(
OIC |
Quote |
Chart |
News |
PowerRating) +0.89%Â Â Â
Weak sectors were:Â Â
Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) -1.38%Â Â Â Â Networkers
(
NWX |
Quote |
Chart |
News |
PowerRating)
-1.18%Â Â Â Â Telecom
(
XTC |
Quote |
Chart |
News |
PowerRating) -1.05%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
|
|
-30.98 | 10,805.55 |
| -0.32 | 2222.42 | |
| -0.30 | 1259.62 | |
|
Oil |
+0.64 | 57.98 |
More stocks on the move:
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating)
said it is the subject of a criminal investigation over the mishandling fo
hazardous waste. WMT‘s
PowerRating is 6.
Nike
(
NKE |
Quote |
Chart |
News |
PowerRating)
reports after the bell Tuesday; look for $1.03.
NKE’s
PowerRating is 6.
Sprint Nextel
(
S |
Quote |
Chart |
News |
PowerRating) was downgraded at Merrill Lynch, from buy to neutral. S‘s
PowerRating is 6.
Jabil Circuit
(
JBL |
Quote |
Chart |
News |
PowerRating)
reports after the bell; look for $0.42.
JBL’s
PowerRating is 6.
Palm
(
PALM |
Quote |
Chart |
News |
PowerRating) reports after the bell; look for $0.43. PALM’s
PowerRating is 7.
Brice Wightman
Â
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