TradingMarkets Mid-Day Movers
The big news today was the release of
the October Employment Report (full
story). The Labor Department reported that Non-Farm Payrolls rose 56,000,
less than the 110,000 forecast, and the Unemployment Rate was 5%, slightly
better than expected.
The US Dollar Index is trading higher following the report as
the market figures that the report will not put an end to the Federal Reserve
rate increase. The Dollar hit a 26-month high versus the Yen and its highest
level of the year against the Euro.
Treasuries are trading slightly lower (yields higher) across
the curve. Energy futures are also trading lower with Natural Gas and Heating
Oil leading the decline.
After an initial move higher, the major averages are trading
flat to slightly lower on the session with relative strength in the NASDAQ.
Energy stocks have continued to decline. The natural gas sector is down 2.6%,
while the oil service sector is showing a loss of 2%. After rallying to new
highs over the past several days, the Dow Jones Transportation Average is coming
back a bit with a modest retreat.
Gaming stocks are higher. Earnings news is having a mixed
influence on the sector, with Boyd Gaming
(
BYD |
Quote |
Chart |
News |
PowerRating) up more than 6.5% on
quarterly results, while Scientific Games
(
SGMS |
Quote |
Chart |
News |
PowerRating) is more than 5.5% lower on
its own earnings report.
Stocks On The Move
Verity
(
VRTY |
Quote |
Chart |
News |
PowerRating) is among the biggest
percentage gainers after it agreed to be acquired by Autonomy for about $500
million in cash. VRTY is currently up 27%.
ZipRealty
(
ZIPR |
Quote |
Chart |
News |
PowerRating) is among the morning’s most notable standouts to the
downside on quarterly results. ZIPR is currently posting a decline 38%.
Â
| Dow |
-20.41 | 10,502.18 |
| NASDAQ |
+0.68 | 2160.90 |
| S&P 500 |
-2.63 | 1217.31 |
| NYSE | NASDAQ | |
| Volume |
879,824,000 | 820,978,000 |
| Advances |
1046 | 1169 |
| Declines |
1989 | 1645 |
| Up Volume |
246 | 328 |
| Down Volume |
528 | 429 |
| New Hi’s |
58 | 75 |
| New Lo’s |
59 | 37 |
|
|
Weakest Sectors |
| Biotechnology ( BTK | Quote | Chart | News | PowerRating) |
Oil Service ( OSX | Quote | Chart | News | PowerRating) |
| Healthcare ( HMO | Quote | Chart | News | PowerRating) |
Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
| Banks ( BIX | Quote | Chart | News | PowerRating) |
Oil ( XOI | Quote | Chart | News | PowerRating) |
Ashton Dorkins