New Year Rally Ends On Rising Oil Prices
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All major indexes close in the red; week kicks off
with an end to the New Year’s rally.
Rising oil prices overshadow a positive earnings
forecast from McDonald’s and a higher bid for Guidant by Boston Scientific.Â
Crude oil March contract closed at 66.94, the highest
closing price since September.
Gold futures hit a new 25 yr high (565.50) before
settling back down and closing below 560.
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>Stocks On The
Move
Boston Scientific
(
BSX |
Quote |
Chart |
News |
PowerRating) upped its bid to buy Guidant
(
GDT |
Quote |
Chart |
News |
PowerRating)
in its bidding contest against Johnson&Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating). BSX’s new bid is $27 billion, and GDT’s deadline to accept is
Tuesday, Jan 17th at 5:00 PM.Â
BioCryst
(
BCRX |
Quote |
Chart |
News |
PowerRating)
Gets “fast Track” Status For Flu Drug Peramivir (full
story).
Continental Airlines
(
CAL |
Quote |
Chart |
News |
PowerRating) Q4 Loss Narrows On Higher Revenues, Cost Reductions Despite Higher
Fuel Costs (full
story).
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) Cuts
Pension Benefits To Curb Costs (full
story).
McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating)
Dec. Comp. Rises 5%, Sees Q4 Profit Above Consensus (full
story).
IBM
(
IBM |
Quote |
Chart |
News |
PowerRating) Inks
$1.1 Bln, 10-year Information Technology Agreement With Apparel Retailer Gap (full
story).
Sherwin-Williams
(
SHW |
Quote |
Chart |
News |
PowerRating)
Boosts Q4, FY05 Earnings Outlook (full
story).
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
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Dow
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-63.55
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10896.32
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NASDAQ
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-14.32
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2302.69
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S&P 500
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-4.68
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1282.93
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size=2>NYSE
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size=2>NASDAQ
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Volume
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2,130,144,000
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1,697,872,000
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Advances
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1173
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1157
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Declines
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2155
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1931
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Up Volume
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630
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512
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Down Volume
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1335
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1117
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New Hi’s
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153
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132
width=”26%” height=16>
New Lo’s
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31
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34
Â
Strongest
Sectors
Weakest
Sectors
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(
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(
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href=”https://tradingmarkets.com.site/news/Economic%20News/”>Economic
News
Industrial Production Rises Slightly More Than
Expected (full
story).
New York Fed Says Conditions For NY Manufacturers
Improve At Slower Pace (full
story).
Earnings reveal a slowdown (full
story).
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John Patrick Lee
johnl@tradingmarkets.com
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