Lower Oil Sends Dow Higher
Stocks are higher on lower oil as the Dow extends
its 3 1/2 year highs. The EIA said crude inventories rose by 2
million barrels, more than expected. Analysts actually expected stockpiles to
fall.
GDP in Q3 was +4%–ahead of expectations– vs 3.3% in Q2.
Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) beat by 0.03 and guided Q1 higher;
revenue was $365.9 vs $364 consensus. Blackberry shipments were less than
expected; the stock traded down after hours. Applied Signal
(
APSG |
Quote |
Chart |
News |
PowerRating)
missed by 0.07.
Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) raised its outlook for fiscal Q1, now seeing 0.26
to 0.27.
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +2.64%, Pharmaceuticals
(
DRG.X |
Quote |
Chart |
News |
PowerRating)
+0.78%, Banks
(
BIX.X |
Quote |
Chart |
News |
PowerRating) +0.59%.
Weak sectors are: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) -1.77%, Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating)
-1.19%.
Â
Dow | +38.06 | 10,797.49 |
S&P 500 | +3.41 | 1208.86 |
Nasdaq | +4.79 | 2,155.70 |
The dollar is +0.07 at
82.01
Crude Oil is -1.31 at
44.45
Gold is -1.40 to 449.70
ce=”Arial” size=”2″ face=”Arial”>Volume is 878 million on the NYSE and
1.15 billion on the Nasdaq.
Market breadth is positive.
NYSE | Issues | |
Advancing | 1954 | Up Vol 531 |
Declining | 1284 | Down Vol 283 |
Ratio | 2.18 | 3.72 |
Nasdaq |
||
Advancing | 1732 | Up Vol 742 |
Declining | 1331 | Down Vol 365 |
Ratio | 1.71 | 2.73 |
Stocks in the News
Japan Airlines will buy 30 7E7 Dreamliner jets from Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) for
$120 million each.
Bank of America cut its estimates on several retailers, including FD, KSS,
MAY, ANN, LTD, and TJX.
Solectron
(
SLR |
Quote |
Chart |
News |
PowerRating) cut its 2005 earnings and revenue forecast.
Microsoft will pay a $666 million fine to the EU.
Fannie Mae’s
(
FNM |
Quote |
Chart |
News |
PowerRating) chief stepped down after major accounting
errors were found, which may force the company to restate earnings.
Brice Wightman