Tech Continues to Slide
After coming
under pressure in morning trading, the U.S. stock markets continue to see
significant weakness in the mid-afternoon. The major averages remain
firmly negative, although selling pressure has waned from earlier in the
session.
The NASDAQ led to the major indices to the downside today with a loss of
0.8%. The major losers on the NASDAQ 100 today were XM Satellite Radio
(
XMSR |
Quote |
Chart |
News |
PowerRating) and Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating), which lost 6.5% and 2.8%
respectively.
The price of oil saw some volatility over
the course of the trading session on Monday, as traders digested news of colder
weather across much of the U.S. Crude for February delivery eventually ended the
session down $0.86 at $51.13 a barrel.
After seeing some strength earlier in the
session, the price of gold moved lower over the course of the trading day on
Monday. Gold for February delivery closed down $2.30 at $634.10 an ounce after
reaching a high of $640.30 an ounce.
Stocks on the Move
American Express
(
AXP |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up On Higher Card Member
Spending, Growth In Loan Portfolio; EPS Matches View (full
story). AXP shares finish fractionally higher in today’s session.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) To Cut 10,000 Jobs, Close Plants To Lower Costs (full
story). PFE shares fall by 1%.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) Q4 Profit Surges On Gain From Consumer Unit Sale,
Adj. EPS Declines Yet Tops Consensus, Sales Remain Flat On Lackluster
Pharmaceutical Sales (full
story).Â
PetMed Express
(
PETS |
Quote |
Chart |
News |
PowerRating) Q3 Earnings Flat; Shares Heading Lower (full
story). PETS shares lose nearly 15%.
Sotheby’s
(
BID |
Quote |
Chart |
News |
PowerRating) Rising On Upgrade News (full
story). BID shares rise by 3.8%.
Hoku Scientific
(
HOKU |
Quote |
Chart |
News |
PowerRating) Gaining On News Of New Contract (full
story). HOKU shares jump nearly 6%.
For more stories as they happen, go to our
Breaking News section.
Market Snapshot
|
Dow | -88.37 | 12,477.16 |
| NASDAQ | -20.24 | 2,431.07 |
|
S&P 500 | -7.55 | 1,422.95 |
|
NYSE |
| |
|
Volume | 2,523,708,000 | 1,899,699,000 |
|
| 1214 | 1061 |
|
Declines | 2043 | 2001 |
|
Up Volume | 776 | 360 |
|
Down Volume | 1596 | 1491 |
|
New Highs | 183 | 84 |
|
| 15 | 52 |
Strongest/Weakest Sectors
| Strongest Sectors | Weakest Sectors |
|
Deutsche Bank Energy Index (DXE) | Amex Airline Index (XAL) |
PHLX / KBW Bank Index (BKX) | Amex Networking Index (NWX) |
Amex Natural Gas Index (XNG) | Nasdaq Computer Index (IXCOX) |
Economic News
No economic reports released today.
Darren Wong
darrenw@tradingmarkets.com
P.S.
Click here to use PowerRatings to identify stocks that could potentially
move higher in the next few days.
* PowerRatings Heat Maps is a powerful tool, which can help you make sense of
the markets in an instant. For a free trial to PowerRatings Heat Maps
click
here.Â