Look Who’s In The Money Management Business…
Stocks are virtually flat as
traders‘ focus goes to Wednesday’s Fed
meeting, where a 1/4 point rise is expected. A 1/4 point rise is expected in
December, as well.
EBAY is higher after JP Morgan added the stock to its Focus List and set
a $130 price target for the stock.
McDonald’s global sales rose 6% last
month–the 19th straight month of sales gains. Sales in the US rose 7.5%.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) is lower after NY
Attorney General Spitzer requested information on drug promotion.
Al Gore is in the money management
business. He started Generation Investment Management along with former Goldman
asset manager David Blood. The firm, based in London, will target pension funds
and high net-worth clients. The firm which will start managing money in
February, will also have offices in Washington and will employ 11. Minimum
investment: $3 million.Â
| Dow | -11.42 | 10376.12 |
| S&P 500 | -2.32 | 1163.83 |
| Nasdaq | -1.63 | 2037.31 |
Strong sectors are: Â Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +1.14%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +0.73%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating)
+0.62%.
Weak sectors are: Oil
Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)
-2.35%, Brokers
(
CYC.X |
Quote |
Chart |
News |
PowerRating) -2.14%, Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -1.58%.
The dollar is -0.14 at
83.87
Gold is -2.90 at 431.70
Crude Oil is -0.16 at 49.45
777 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1171 | Up Vol 217 |
| Declining | 2007 | Down Vol 345 |
| Ratio | 1.71 | 1.58 |
| Nasdaq |
||
| Advancing | 1290 | Up Vol 345 |
| Declining | 1612 | Down Vol 364 |
| Ratio | 1.24 | 1.05 |
Stocks in the News
Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating) reported good results on an MS drug.
Taser [TASR|TASR} received government approval to use its stun guns on some
commercial airline flights.
Medarex
(
MEDX |
Quote |
Chart |
News |
PowerRating) formed a development and marketing pact with Bristol
Myers Squibb for a melanoma treatment.
Novell
(
NOVL |
Quote |
Chart |
News |
PowerRating) is higher after Microsoft agreed to pay $536 million to
settle antitrust claims.
U.S. Steel
(
X |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in Barron’s.
Brice Wightman