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.Â
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 ofÂ
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
(
MU |
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PowerRating) is off earlier lows and is trading down by
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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PowerRating) is trading down by nearly 4%. The company
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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PowerRating) is trading lower by 11%. The distributor of
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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PowerRating) +1.51%, Gold Bugs
(
HUI.X |
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PowerRating)
+0.97%, Drugs
(
DRG.X |
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PowerRating) +0.95%.
Weak sectors are: Computer Box MakersÂ
(
BMX.X |
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PowerRating) -0.41%,
REITs
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DJR.X |
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-0.21%.
Dow | +21.21 | 10,837.10 |
S&P 500 | +1.67 | 1,211.24 |
Nasdaq | +5.36 | 2,162.39 |
The dollar is -0.43 at
81.58
Crude Oil is -0.24 at
44.00
Gold is 1.50 to 442.90
ce=”Arial” size=”2″ face=”Arial”>Volume is 525 million on the NYSE and
8.53 million on the Nasdaq.
Market breadth is positive.
NYSE | Issues | |
Advancing | 1749 | Up Vol 393 |
Declining | 1335 | Down Vol 238 |
Ratio | 1.31 | 1.65 |
Nasdaq |
||
Advancing | 1662 | Up Vol 512 |
Declining | 1335 | Down Vol 291 |
Ratio | 1.24 | 1.76 |
Stocks in the News
Adolor
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ADLR |
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PowerRating):
Thursday’s experiment did not indicate a significant benefit for treatment of
post-operative bowel obstruction.
American Greetings
(
AM |
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PowerRating): Reported higher quarterly earnings.
Urban Outfitters
(
URBN |
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PowerRating): Wedbush reiterates Buy.
Â
Brice Wightman