Traders Cautious Ahead of August Employment Report
Stocks finish the day fractionally lower despite
upbeat speech by FED chairman Bernanke; core inflation numbers for July rose at
slower rate than expected. Crude oil futures close at $70.26 currently
down by 7.2% for the month.
Wednesday’s
action on the S&P and Nasdaq indices included Advancers beating Decliners for 3
straight sessions. Historically, this has been a signal that the market
will be quiet or drop. It will be interesting to see if we get more
bearish signals today/this week since the S&P continues to trade near the top of the recent
trading range (click
here for more info).
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>
Stocks on the
Move
JDS Uniphase Q4 Loss Narrows On Higher Revenue,
Sees Weaker-than-expected Q1 Revenue, Shares Fall (full
story). JDSU shares get slashed by over 13%.
Federated Department August Same-Store Sales
Rise 3.8% (full
story). FD shares close higher by 1.5%.
Goldcorp, Glamis Gold To Merge In
US$21.3 Bln Stock Deal (full
story). GG shares close down over 9%, while GLG shares jump nearly
19%.
Target Sales Trend Heads South-Aug. Sales Rise
9.2%; Same Store Sales Up 2.8% (full
story). TGT shares close fractionally lower.
Ford Explores Possible Sale Of Aston Martin
Luxury Brand (full
story). F shares rise by over 1%.
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
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Dow
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-1.92
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11,380.99
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NASDAQ
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-1.98
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2,183.75
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S&P 500
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-0.53
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1,303.74
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size=2>NYSE
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size=2>NASDAQ
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Volume
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1,921,565,000
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1,663,057,000
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Advances
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2051
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1636
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Declines
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1178
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1354
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Up Volume
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955
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646
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Down Volume
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680
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843
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New Hi’s
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181
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99
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New Lo’s
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17
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30
Strongest
Sectors
Weakest
Sectors
Healthcare Index (HMO)
Sector Index (XAU)
Networking Index (GIP)
Index (UTY)
href=”https://tradingmarkets.com.site/news/Economic%20News/”>
Economic
News
Fed Chairman Sees Continued Strong Productivity Growth (full
story).
Natural Gas Inventories Up 48 BCF
Factory Orders Fall Less Than Expected In July (full
story).
Personal Income And Spending Rise In Line With Estimates (full
story).
Jobless Claims Fall Compared To Upwardly Revised Reading (full
story).
Helvetica>
Darren Wong
darrenw@tradingmarkets.com
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Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
Adv.
Issues > Dec. Issues 3 Days In A Row- Too many stocks rising in one
day or over multiple days usually precede a market that will be quiet or drop.
Too many stocks declining in one day or over multiple days usually precede a
market rally, especially when the market is above its 200 day ma.
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