This Stock Is Reacting Well To The Jobs Report
Stocks today
are up today after a positive jobs report. The
Labor Department released news of a strong labor market, stating the US economy
added 126,000 non-farm payroll jobs in October. The unemployment rate declined
to 6%, while the number of hours worked in the economy rose to 0.4%, the highest
since January. Staffing firm Manpower
(
MAN |
Quote |
Chart |
News |
PowerRating) is benefiting from the report,
trading up 1.7%, just off its 52-week high. The Senate today is debating on
turning a temporary moratorium on taxes on Internet access into a permanent ban.
Halliburton has reached an agreement to limit a proposed asbestos cash
settlement to $2.75 billion.
The Dow Jones Industrial
Average
(
$INDU.X |
Quote |
Chart |
News |
PowerRating) is up +0.04% at 9861.64. The S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating)
is down +0.01% at 1058.21. The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) is up +0.36% at
1983.20.
The day’s leading sectors are
Dow Jones Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating), 1.21%, GSTI
Services Index
(
$GSV.X |
Quote |
Chart |
News |
PowerRating), +1.05%, Morgan Stanley Hlth Provider
(
$RXH.X |
Quote |
Chart |
News |
PowerRating), +0.96%, GSTI Internet Index
(
$GIP.X |
Quote |
Chart |
News |
PowerRating), +0.87%. and
Gold and Silver Sector Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), +0.84%.
Weak today are Disk Drive
Index [DDX.X|DDX.X] -0.76%, Natural
Gas Index
(
$XNG.X |
Quote |
Chart |
News |
PowerRating), -0.73% and S&P Health Care
(
$HCX.X |
Quote |
Chart |
News |
PowerRating),
-0.65%.
Economic news releases for
today included Hourly Earnings numbers 0.1%, non-farm Payrolls increased to a
whopping 126K, average workweek at at 33.8. Unemployment rate down to 6.0%,
Wholesale inventories rose 0.4% and the consumer credit number was not available
at the time this article was written.
10-year Notes are -135
at 110 310.
The dollar
is +.21 at 93.25.
Gold is +0.07 at 381.40.
Crude Oil is +0.57 at
30.80.
Volume is 606,000,000 on
the NYSE, and 1,001,000,000 on the Nasdaq.
Market breadth is positive,
with NYSE advancing issues over declining issues by 1.31 and up over down volume
by 1.17; Nasdaq issues advancing over declining issues at 1.14, and up volume
over down volume at 1.41.
Top Dow stocks are:
Altria
(
MO |
Quote |
Chart |
News |
PowerRating) +2.06% at 49.366, Alcoa [AA|AA],
+1.01% at 33.22, Eastman Kodak [EK|EK],
+0.3% at 24.91, and Du Pont
(
DD |
Quote |
Chart |
News |
PowerRating), +0.30% at 40.42
Stocks in the news:
Ameritrade
(
AMTD |
Quote |
Chart |
News |
PowerRating)
announced plans to acquire privately held brokerage firm Bidwell, which has
100,000 accounts with $5 billion in assets. For its own online brokerage
service, AMTD added 32,000 new customers in October. AMTD is up 5% on the news.
McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating)
reported an 8% jump in same-store sales for the month of October. Sales were
up 15% compared to the previous year. The company attributed the strong results
to Justin Timberlake’s “I’m lovin’ it” song and its Monopoly game promotion.
WebMD
(
HLTH |
Quote |
Chart |
News |
PowerRating) posted
a net profit of $6.1 million or 2 cents per share up from $4.5 million a year
ago. Revenue was up $23 million to $250.6 million.
Nvidia
(
NVDA |
Quote |
Chart |
News |
PowerRating) third-quarter sales rose
13% amid an industry slump of chip sales. Net income was at $6.4 million on
revenue of $486 million. It makes chips for Microsoft’s XBox, that accounted
for 25% of overall sales. NVDA also raise 2004 revenue expectations to $780
million.
If you have any comments or questions, please
feel free to email me.
bricew@tradingmarkets.com