Is This A Trend On The NYSE?
Stocks are higher as investors discount
weaker-than-expected economic data and focus on bargain-hunting.
Consumer Confidence for March fell to 102.4 from 104.4 in February.
AIG is 4% higher after it was reported that Hank Greenberg is stepping
down as Chairman.
MCI
(
MCIP |
Quote |
Chart |
News |
PowerRating) accepted Verizon’s $7.6 billion takeover bid, which
was less than Qwest’s bid.
HCA Inc
(
HCA |
Quote |
Chart |
News |
PowerRating) guided much higher. Lehman, Opco and Fulcrum all
upgraded the stock.
A seat on the NYSE went for $1.55 million–10% higher than the last
sale on March 21. The recent low transaction was on January 11 of this year at
$975,000. The all-time high price was $2.65 million in August 1999.
Strong sectors are: Â Â Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating)
+1.27%Â Â Â Oil
(
$OIX.X |
Quote |
Chart |
News |
PowerRating) +0.78%Â Â
Homebuilders
(
$HGX.X |
Quote |
Chart |
News |
PowerRating) +0.64%
Weak sectors are:Â Â Transports
(
$TRANX.X |
Quote |
Chart |
News |
PowerRating)
-0.42%Â Â Â Â Pharmaceuticals
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) -0.24%Â Â
Dow | +12.71 | 10,498.36 |
Nasdaq | +4.82 | 1997.34 |
S&P 500 | +2.78 | 1177.06 |
The dollar is -0.24 at
84.38
Crude Oil is -0.20 at
53.85
Gold is -0.10 at 426.10
ce=”Arial” size=”2″ face=”Arial”>Volume is 830 million on the NYSE and
736 million on the Nasdaq
Market breadth is negative.
NYSE | Issues | |
Advancing | 1759 | Up Vol 414 |
Declining | 1393 | Down Vol 327 |
1.26 | 1.26 | |
Nasdaq |
||
Advancing | 1469 | Up Vol 387 |
Declining | 1404 | Down Vol 280 |
1.04 | 1.38 |
Stocks in the News
Delta
(
DAL |
Quote |
Chart |
News |
PowerRating) will cut up to 2000 jobs.
Northrup Grumman
(
NOC |
Quote |
Chart |
News |
PowerRating) won a $203 million Army contract.
The FDA approved Pfizer’s
(
PFE |
Quote |
Chart |
News |
PowerRating) depo-subQ
provera for endometriosis pain.
UBS cut Limited
(
LTD |
Quote |
Chart |
News |
PowerRating) to underweight.
Brice Wightman