Stock Gains Continue
Stocks are higher mid-session
on this Triple Witching Friday. The Dow
is being lifted by two component upgrades. ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating) was upgraded to Buy
at Deutsche Bank. Intel
(
INTC |
Quote |
Chart |
News |
PowerRating)
was upgraded at CSFB, to Neutral.
Consumer confidence fell after Katrina, to
the lowest level since 1992. The University of Michigan consumer sentiment index
for September was 76.9 vs. 89.1 in August. It was also the biggest drop since
December 1980–larger than the drop after 9/11. The current account deficit
narrowed by 1.5% in Q2, but still was the second highest on record.
Gold futures hit a 17-year high in
overseas trading.
OPEC said it is considering a production
increase; crude is trading near $64.
Adobe
(
ADBE |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Tektronics
(
TEK |
Quote |
Chart |
News |
PowerRating) beat by 0.02 but
guided lower.
Strong Sectors are: Gold
(
XAU |
Quote |
Chart |
News |
PowerRating)
+2.64% Disk Drives
(
DDX |
Quote |
Chart |
News |
PowerRating) +0.92%
Weak sectors are:
Semis
(
SOX |
Quote |
Chart |
News |
PowerRating) -0.77%
Biotech
(
BTK |
Quote |
Chart |
News |
PowerRating)
-0.38%
|
|
+40.59 | 10,599.34 |
| +1.63 | 2147.78 | |
| +3.95 | 1231.68 |
Stocks in the news:
Trinity Industries
(
TRN |
Quote |
Chart |
News |
PowerRating) guided higher, now seeing 0.50 – 0.57, from
0.44 – 0.51.
BJ Services
(
BJS |
Quote |
Chart |
News |
PowerRating) was upgraded at J.P. Morgan, to Overweight.
Sealed Air
(
SEE |
Quote |
Chart |
News |
PowerRating) guided lower and now sees $2.65 – 2.80 vs the
previous $2.80 – 2.90.
Brice Wightman