Earnings Drive Tuesday’s Rally
The major indices rallied in Tuesday’s session despite oil
closing back above $55.00 a barrel. Today’s Dow leaders included United
Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) and Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating), which gained 3.2%
and 2.4% respectively. Â
The price of oil moved sharply higher over
the course of the trading session on Tuesday, moving back to the upside after
turning lower in the previous session. In its first day as the front-month
contract, crude for March delivery closed up $2.46 at $55.04 a barrel.
After seeing some strength in morning
trading, the price of oil accelerated to the upside going into the close on
reports that President Bush will call for the capacity of the U.S. Strategic
Petroleum Reserve to be increased to 1.5 billion barrels in his State of the
Union address
After turning lower over the course of the
previous session, the price of gold showed a strong upward move during trading
on Tuesday. Gold for February delivery closed up $11.80 at $645.90 an ounce
after ending the previous session down $2.30 an ounce.
Stocks on the Move
UAL
(
UAUA |
Quote |
Chart |
News |
PowerRating) Q4 Loss Narrows On Higher Revenues, Cost Control;
Stock Down (full
story). UAUA shares fall by nearly 8%.
Sales Growth Drives Johson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating) Q4 Profit; Guides 2007
(full
story). JNJ shares lose 1%.
D.R. Horton
(
DHI |
Quote |
Chart |
News |
PowerRating) Q1 Profit Plummets 65%, Backlog Orders Fall (full
story). DHI shares gain 4.5%.
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) Posts Higher Q4 Profit, Plans 500 Job Cuts
In 2007 (full
story). TXN shares rise 3.5%.
United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up 38% On Strong Demand From
Aerospace And Commercial Construction Sectors, EPS Tops Consensus; Affirms FY07
EPS Forecast (full
story). UTX shares gain 3.2%.
DuPont
(
DD |
Quote |
Chart |
News |
PowerRating) Q4 Net Income Rises; Adj. EPS Matches Consensus; Backs
FY07 Outlook (full
story). DD shares lose 0.9%.
For more stories as they happen, go to our
Breaking News section.
Market Snapshot
|
Dow | +56.64 | 12,533.80 |
| NASDAQ | +0.34 | 2,431.41 |
|
S&P 500 | +5.04 | 1,427.99 |
|
NYSE |
| |
|
Volume | 2,893,354,000 | 1,979,457,000 |
|
| 2081 | 1808 |
|
Declines | 1170 | 1205 |
|
Up Volume | 1698 | 837 |
|
Down Volume | 932 | 996 |
|
New Highs | 234 | 109 |
|
| 22 | 41 |
Strongest/Weakest Sectors
| Strongest Sectors | Weakest Sectors |
|
Deutsche Bank Energy Index (DXE) | Amex Airline Index (XAL) |
Amex Gold Bugs Index (HUI) | Amex Networking Index (NWX) |
Amex Oil Index (XOI) | CBOE Internet Index (INX) |
Economic News
Leading Indicator +0.3% vs +0.2% consensus
Darren Wong
darrenw@tradingmarkets.com
P.S.
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