Here’s What You Should Know About The 4th Quarter
Stocks are higher on the
second day of the month and quarter as new money continues to get put
to work. The market continues to digest $50 oil and some traders are finding
stocks attractive in a stronger economy.Â
Factory orders fell 0.1% in August, the
first decline in four months. Civilian aircraft orders nose-dived almost 43%.
Positive news boosted the Nasdaq.
Siebel
(
SEBL |
Quote |
Chart |
News |
PowerRating) said preliminary results were good and guided
higher for Q3. Hutchison Technologies
(
HTCH |
Quote |
Chart |
News |
PowerRating) boosted its Q4
estimates. The fourth quarter is historically strong for technology.
Retail stocks are strong.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) said its same-store sales will be at the low end of
expectations; the final numbers will be released on Thursday.
Nigerian rebels withdrew a threat to target oil
operations; oil is slightly lower, just under $50.
| Dow | +46.31 | 10239.11 |
| S&P 500 | +5.78 | 1137.28 |
| Nasdaq | +15.55 | 1959.69 |
Strong sectors are: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+7.42%, Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating) +6.45%, Telecom
(
XTC.X |
Quote |
Chart |
News |
PowerRating) +5.50%
+1.94%,Â
+1.43%.
Weak are: Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) -4.59% and , Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -1.71%.
10-year Notes are -045 at 113 095
The dollar
is +0.88 at 88.51
Gold is -4.00 at 413.20
Crude Oil is -0.40 at 49.72
7923 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1938 | Up Vol 479 |
| Declining | 1179 | Down Vol 159 |
| Ratio | 1.64 | 3.01 |
| Nasdaq |
||
| Advancing | 1823 | Up Vol 690 |
| Declining | 1086 | Down Vol 168 |
| Ratio | 1.67 | 4.10 |
Stocks in the News
Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in
Barron’s.
Goldman Sachs lowered its earnings estimates on
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) for
2006-2008.
XM Satellite Radio
(
XMSR |
Quote |
Chart |
News |
PowerRating) added 415,000 subscribers–+75%
gain–in the third quarter.
Apple Computer’s
(
AAPL |
Quote |
Chart |
News |
PowerRating) price target was raised at Merrill Lynch,
from $39 to $44.
Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) was the subject of a negative Barron’s cover
story.
Symantec
(
SYMC |
Quote |
Chart |
News |
PowerRating)
was cut to “Hold” from “Buy” at Janney Montgomey.
Interstate Bakeries
(
IBCIQ |
Quote |
Chart |
News |
PowerRating) could be a buy. In a Barron’s
article, Duncan Yin of CRT Capital says the shares could be worth $6-$10.
Brice Wightman