Google Broke $200, But Then…
Stocks gapped higher Wednesday
morning after a Bush win, rallying broadly on good
volume. The market sold off intraday, though, on higher oil. Healthcare, drugs,
defense, energy and utilities were all strong. The Small Cap index made a
historic high.
Pfizer
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PFE |
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MRK |
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PowerRating) and Bristol Myers
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BMY |
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were all higher on a Bush win.
Google
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GOOG |
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PowerRating) broke the psychological $200 barrier before pulling
back.
Factory orders fell -0.4% in September. The ISM
manufacturing Index for October was 59.8.
Post-election, we are back to earnings focus.
Next week, Cisco and Dell are on tap, as well as a Fed meeting.
After the close, EDS said it will postpone its
earnings announcement. Roxio
(
ROXI |
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PowerRating) beat by 0.06 and raised guidance.
Sonus
(
SONS |
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(
COHR |
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Andrx
(
ADRX |
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PowerRating) missed by 0.16.
Dow | +101.32 | 10137.05 |
S&P 500 | +12.64 | 1143.20 |
Nasdaq | +19.54 | 2004.33 |
Strong sectors were:
Healthcare Providers
(
HMO.X |
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PowerRating) +5.54%, Biotech
(
BTK.X |
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+3.59%, HealthcareÂ
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HCX.X |
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PowerRating)
+3.01%.
Weak sectors were:Â Airlines
(
XAL.X |
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PowerRating) -1.46%, Semis
(
SOX.X |
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PowerRating) -1.00%.
The dollar was -0.77 at
84.65
Gold was +4.70 at 424.20
Crude Oil was +1.25 at 50.88
ce=”Arial” size=”2″ face=”Arial”>Volume was 1.77 billion on the NYSE and
1.95 billion on the Nasdaq.
Market breadth was positive.
NYSE | Issues | |
Advancing | 2505 | Up Vol 1387 |
Declining | 818 | Down Vol 324 |
Ratio | 3.06 | 4.28 |
Nasdaq |
||
Advancing | 2102 | Up Vol 1104 |
Declining | 960 | Down Vol 811 |
Ratio | 2.18 | 1.36 |
Stocks in the News
Time Warner
(
TWX |
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PowerRating) reported a lower Q3 profit.
Cigna
(
CI |
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PowerRating) beat by 0.43.
Prudential
(
PRU |
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PowerRating) beat by 0.15, and doubled its Q3 profit.
InterActive
(
IACI |
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PowerRating) beat by 0.03.
Polo Ralph Lauren
(
RL |
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PowerRating) beat by 0.03.
KOS Pharma
(
KOSP |
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PowerRating) beat by 0.18.
Pepsi
(
PEP |
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PowerRating) reaffirmed guidance for 2004-2005.
Priceline
(
PCLN |
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PowerRating) beat by a penny.
Brice Wightman