Here Are Some Interesting Stats For Monday…

June 10, 2004
Brice Wightman

Stocks
rose on this final day of the trading week on a mix of economic news, but the
Nasdaq closed below 2,000 a second time in as many days. Jobless
claims were higher than expected, rising 12,000 to 352,000. Import prices were
strong, climbing 1.6%, the biggest one-month gain since February of last year
and the eighth consecutive monthly rise. Cost of petroleum products imported
jumped 10.3% as crude prices shot past $42 a barrel. Excluding energy costs,
import prices rose 0.4% with export prices up 0.2%.

The Semiconductor Industry
Association raised its growth forecast to 28% from 19%; PC and handset
growth is anticipated to be faster than expected. The SOX is up 1.12%.

The Bank of England raised its
benchmark interest rate for a second consecutive month, by a quarter point to
4.5 percent, to prevent record consumer borrowing and surging house prices from
fueling inflation. National Semiconductor
(
NSM |
Quote |
Chart |
News |
PowerRating) posted earnings of
$126.4 million on revenue of $571.2 million with gross margin reaching an
all-time high of 54.4%.

The International Energy
Association (IEA) said oil demand growth is at a 23-year high, and revised up
its 2004 demand estimate.

A Labor Department
report showed that only 2% of jobs lost in the first three months of 2004 were
due to outsourcing.

Martha Stewart asked a
judge to throw out her conviction and grant her a new trial, citing false
testimony given during her trial.

The market is closed tomorrow
in honor of President Ronald Reagan. Government
offices are also closed. According to Ned Davis research,
over the past century, the Dow has fallen on eight of the 14 days
after a U.S. presidential funeral or national day of mourning. However, the day
after a funeral favors the bulls. On the day after the national day of mourning
for FDR, the Dow rose 1.7%, and the day after Truman’s funeral, it rose 1.2%.

Dow	+41.66	1040.10
S&P 500	+5.14	1136.47
Nasdaq	+9.26	1999.87

Economic news release today
included Export Prices ex-ag up 0.2% and Import Prices excluding oil that rose
by 0.3%.

10-year Notes were -15
at 108 265

The dollar
was -0.48 at 89.23

Gold was +2.40 at 385.70

Crude Oil was +0.84 at
38.65

Volume was 1.1 billion
on the NYSE, and 1.2 billion on the Nasdaq.

Market breadth was positive.

NYSE	Issues
Advancing	1848	Up Vol 680
Declining	1414	Down Vol 431
Ratio	1.30	1.57
Nasdaq
Advancing	1580	Up Vol 702
Declining	1516	Down Vol 545
Ratio	1.04	1.29

Stocks in the news:

RJ Reynolds
(
RJR |
Quote |
Chart |
News |
PowerRating)
said the FDA requested more time to review its acquisition of British American
Tobacco.

Jetblue
(
JBLU |
Quote |
Chart |
News |
PowerRating) announced its
first international flight to teh Dominican Republic and is expected to start
service to Canada and Mexico later this year. The company has plans to expand
its fleet by 150 planes and hire 18,000 workers in the next seven years.

Brice Wightman

bricew@tradingmarkets.com

Here Are Some Interesting Stats For Monday…

BUY THE FEAR, SELL THE GREED

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