Stocks Sharply Higher, But Look At What’s At Multi-Year Lows
Stocks closed the day on
a very positive note. Â Despite some weaker than economic data,
equities turned it around staged a broad based rally. The Dow Jones Industrial
Average recaptured the 10,700 level since falling under it just one month ago.Â
The broader S&P 500 recaptured the 1200 level. Meanwhile semiconductor issues
led the day as they shot back above the 400 level and gained 4.35% for the day.Â
Lastly the CBOE Volatility Index
(
VIX.X |
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PowerRating) fell to levels not seen since
December 1995.
January nonfarm payrolls rose +146,000, lower
than expected. December was revised to 133K from 157K. Unemployment fell to 5.2%
vs. 5.4% in December. Average hourly earnings rose 0.2%. The University of
Michigan sentiment number for January was 95.5, down from December’s 97.1.
Time Warner
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Boeing
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jets–worth $1.8 billion.
Ask Jeeves
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Strong sectors are: Semiconductors
(
$SOX.X |
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Disk Drives
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$DDX.X |
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+2.05%.
Weak sectors are:Â Internet Commerce
(
$ECM.X |
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(
$INX.X |
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Gold Bugs
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-0.51%.
| Dow | 10,716.13 | |
| S&P 500 | 1203.03 | |
| Nasdaq | 2086.66 |
The dollar is +0.42 at
84.45
Crude Oil is +0.00 at
46.48
Gold is -2.60 to 415.90
1.89 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2527 | Up Vol 1233 |
| Declining | 796 | Down Vol 368 |
| 3.17 | 3.35 | |
| Nasdaq |
||
| Advancing | 2085 | Up Vol 1453 |
| Declining | 1041 | Down Vol 427 |
| 2.0 | 3.40 |
Stocks in the News
Ryder
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DoubleClick
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reported 0.08, beating by 0.02; earnings nearly tripled.
Sapient’s
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but missed estimates. The company said it found a “material weakness”Â
in its internal financial controls.
Avid Tech
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PowerRating)
beat by 0.02, ex-items.
Brice Wightman