Stocks Close Off Lows
Stocks fell Wednesday on negative breadth, though finished off their
intraday lows. Some investors
feel the market is due for a pullback.
Steve Shobin, Chief Strategist at Americap Advisors said “I
think the market has gotten a little bit ahead of itself; it’s due for a
little bit of a correction but I don’t see a big top just yet.”
Crude inventories rose 2.7 million barrels; distillate inventories
rose 2.7 million barrels. Crude oil fell 0.73 to $59.21.
Wellpoint
(
WLP |
Quote |
Chart |
News |
PowerRating) warned for
2006.
Ford
(
F |
Quote |
Chart |
News |
PowerRating) will eliminate up to 30,000 jobs over 5 years, closing 10
plants.
Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) was upgraded at JP Morgan, to overweight.
Strong sectors were:Â Â Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) +1.91%Â Â Â Â AirlinesÂ
(
XALI |
Quote |
Chart |
News |
PowerRating)
+0.42%Â Â Â Â Â Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating) +0.26%Â Â Â Â Â Â Â Â Â Â Â Â Â
Weak sectors were:Â Â
Healthcare
(
HMO |
Quote |
Chart |
News |
PowerRating) -1.55%Â Â Â Â OilÂ
(
OIX |
Quote |
Chart |
News |
PowerRating)
-1.17%Â Â Â Semis
(
SOX |
Quote |
Chart |
News |
PowerRating) -1.18%Â
|
|
-45.95 | 10,810.91 |
| -8.75 | 2252.01 | |
| -6.33 | 1257.37 |
More stocks on the move:
Comverse Technologies
(
CMVT |
Quote |
Chart |
News |
PowerRating)
beat by 0.02, ex-items.
Photronics
(
PLAB |
Quote |
Chart |
News |
PowerRating) beat by
0.02; revenues rose 7.3% year/year. The company is in talk to develop mask
technology.
Brice Wightman
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