Here’s What Caused The Spike Up This Morning
Stocks are higher on a drop in
crude oil.
The EIA said that crude inventories rose 4 million
barrels; distillate stocks fell 2.4 million barrels. New home sales for
September rose +3.5% to 1.206 million, better than expected. Orders for durable
goods rose in September for the third time in four months, +0.2%; ex
transportation +1.7%
Proctor & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) beat by a penny.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) beat by 0.15 and guided higher for 2004.
| Dow | +60.61 | 9949.09 |
| S&P 500 | +7.25 | 1118.34 |
| Nasdaq | +29.27 | 1958.06 |
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +3.73%,
Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +2.62%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+2.23%.
Weak sectors are:Â Oil
Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) -2.65%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -2.37%, Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating) -1.64%.
The dollar is +0.19 at
85.40
Gold is -1.40 at 423.90
Crude Oil is -1.32 at 53.85
and 1.06 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2020 | Up Vol 470 |
| Declining | 1088 | Down Vol 267 |
| Ratio | 1.85 | 1.76 |
| Nasdaq |
||
| Advancing | 1751 | Up Vol 792 |
| Declining | 1155 | Down Vol 202 |
| Ratio | 1.51 | 3.92 |
Stocks in the News
Amerada Hess
(
AHC |
Quote |
Chart |
News |
PowerRating) missed by a mile, reporting $1.74 vs. a $2.08
estimate.
Centex
(
CTX |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Sina
(
SINA |
Quote |
Chart |
News |
PowerRating) reported a 24% jump in Q3 earnings.
UTStarcom
(
UTSI |
Quote |
Chart |
News |
PowerRating) beat by a penny.
Adobe
(
ADBE |
Quote |
Chart |
News |
PowerRating) guided higher for Q4.
Brice Wightman