Terror Threat? Market Up For Fifth Day In A Row!
Stocks rose for the
fifth day in a row Monday, the longest run since December. The
session started with a gap lower after Sunday’s terror threats were announced by
Tom Ridge. Specific threats included the IMF and the World Bank –both in
Washington, D.C., the NYSE, the Citigroup building in NYC and the Prudential
building in Newark, N.J.
Manufacturing expanded for the 14th straight month, with the ISM coming in at 62
for July, up from 61.1 in June. Construction spending fell for the first time in
5 months — the index set an all-time high in May.
Oil hit $44 per barrel, another record high.
Apple CEO Steve Jobs had successful
surgery for a form of pancreatic cancer; he is expected to make a full recovery.
After the close, Netease
(
NTES |
Quote |
Chart |
News |
PowerRating)
missed by 0.03 and announced a deal with Google to provide search services.
Priceline
(
PCLN |
Quote |
Chart |
News |
PowerRating) beat by a penny; Mentor
(
MNT |
Quote |
Chart |
News |
PowerRating) beat by 0.05
| Dow | +39.45 | 10179.16 |
| S&P 500 | +4.90 | 1106.62 |
| Nasdaq | +4.73 | 1892.09 |
Strong today were: Cyclicals
(
CYC.X |
Quote |
Chart |
News |
PowerRating)
+0.82%, Banks
(
BIX.X |
Quote |
Chart |
News |
PowerRating) +0.74%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +0.67%,
Telecom
(
XTC.X |
Quote |
Chart |
News |
PowerRating) +0.67%.
Weak today were: Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -1.88%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.61%.
10-year Notes were +050
at 110 280
The dollar
was -0.20 at 89.77
Gold was -1.50 at 391.60
Crude Oil was flat at
43.82
Volume was 1.28 billion
on the NYSE, and 1.53 billion on the Nasdaq.
Market breadth was mixed.
| NYSE | Issues | |
| Advancing | 1960 | Up Vol 794 |
| Declining | 1297 | Down Vol 484 |
| Ratio | 1.51 | 1.02 |
| Nasdaq |
||
| Advancing | 1350 | Up Vol 719 |
| Declining | 1834 | Down Vol 755 |
| Ratio | 1.35 | 1.05 |
Stocks in the news:
Corinthian Colleges
(
COCO |
Quote |
Chart |
News |
PowerRating)
lowered its earnings forecast.
Proctor & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) reported a
better-than-expected profit
Brice Wightman
bricew@tradingmarkets.com