Here’s What’s Hitting A Ten Year Low

Stocks are modestly higher on this pre-Christmas Eve
trading day.  The Dow is extending its 3.5 year high. Positive
news on the economic front overshadowed disappointments in the tech sector. 
The dollar hit a record low against the Euro. Earlier today, the greenback fell
to $1.35 per Euro. The VIX is at 10-year low.

The revised Michigan Consumer Sentiment index for December was upped to a
reading of 97.1 from 95.7. Consensus was at 95.7. The Commerce Department
reported that durable goods for November jumped 1.6% vs. consensus of 
0.7%. Personal Income rose 0.3% vs. consensus of 0.2%. Personal Spending came in
as expected at 0.3%. Initial Jobless Claims came in at 333K vs. consensus of
335K.  New Home Sales for November came in weaker than expected at 1125K
vs. 1200K.

Micron Technology
(
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0.75%. The maker of computer memory chips provided a first quarter revenue
estimate of $1.26 billion versus analysts consensus of $1.3 billion.

PalmSource
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also gave a revenue forecast that was below estimates. The maker of software for
hand-held computers expected third quarter revenues to be $18.9 million compared
to estimates of $23 million.

Red Hat
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the Linux operating system system gave a third quarter revenue forecast of $50.9
million versus estimates of $51.8 million.

Strong sectors are: Biotechs
(
BTK.X |
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(
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+0.97%, Drugs
(
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Weak sectors are: Computer Box Makers 
(
BMX.X |
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REITs
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-0.21%.

Adolor
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Thursday’s experiment did not indicate a significant benefit for treatment of
post-operative bowel obstruction.

American Greetings
(
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Urban Outfitters
(
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Brice Wightman