TradingMarkets Mid-Day Movers
The major averages are trading higher today, adding to the recent strength in the equity markets.
With the economic calendar packed with market moving events today and tomorrow,
plus testimony from Alan Greenspan, the headline grabbing news came from Merck
(
MRK |
Quote |
Chart |
News |
PowerRating)
which won the case in its Vioxx trial (full
story). MRK spiked sharply higher immediately after the news broke on very
heavy trading volume.
On the economic front; Initial Jobless Claims fell 8000 to
323,000 (more),
Productivity rose 4.1%, more than expected (more),
the ISM Manufacturing Index for October was 60.0, above expectations of 57.0 (more),
Factory Orders were down 1.7% in September, worse than expected (more)
and weekly Natural Gas stocks rose 29 BCF.
Statements by Fed Chairman Alan Greenspan and Vice President
Roger Ferguson were released today, highlights can be found in our
Economic
News section.
The US Dollar Index is trading higher, Treasuries and Gold are
trading lower. Energy futures are trading higher.
Stocks On The Move
Symbol Technologies
(
SBL |
Quote |
Chart |
News |
PowerRating) is one of the
biggest percentage gainers in the early going on earnings and guidance released
after the closing bell on Wednesday. SBL is currently up 19%.
First Marblehead
(
FMD |
Quote |
Chart |
News |
PowerRating) is one of the worst performers in the early going
after it announced that the Bank of America has opted out of the automatic
annual renewal of its direct-to-consumer program. FMD is currently down 26%.
| Dow |
+72.74 | 10,545.47 |
| NASDAQ |
+19.75 | 2164.06 |
| S&P 500 |
+7.36 | 1222.12 |
| NYSE | NASDAQ | |
| Volume |
1,153,032,000 | 1,031,779,000 |
| Advances |
1908 | 1868 |
| Declines |
1139 | 952 |
| Up Volume |
711 | 663 |
| Down Volume |
305 | 242 |
| New Hi’s |
161 | 160 |
| New Lo’s |
54 | 30 |
|
|
Weakest Sectors |
| Semiconductor ( SOX | Quote | Chart | News | PowerRating) |
Gold Bug ( HUI | Quote | Chart | News | PowerRating) |
| Biotechnology ( BTK | Quote | Chart | News | PowerRating) |
Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
| Oil ( XOI | Quote | Chart | News | PowerRating) |
Airline ( XAL | Quote | Chart | News | PowerRating) |
Ashton Dorkins