TradingMarkets Mid-Day Movers
Wednesday’s session has seen a continuation
of Monday and Tuesday’s
lackluster trading. The major averages are trading in a narrow range,
either side of the unchanged mark.
The weekly EIA Petroleum Status Report showed a large rise in
inventories. Crude Oil inventories were up 4.5 Mln barrels while Gasoline
inventories rose 4.2 Mln barrels (report).
Energy futures are trading lower along with the energy sectors. A number of oil
company executives are giving testimony on Capitol Hill today as the politicians
(in a typically short sighted move) weigh the possibility of imposing a windfall
profits tax.
The US Dollar Index is trading higher, while Treasuries are
giving back most of yesterday’s gains.
Cisco Systems
(
CSCO |
Quote |
Chart |
News |
PowerRating) is scheduled to report first quarter
results for fiscal 2006 after the market closes today (click
here for an in-depth analysis).
AIG
(
AIG |
Quote |
Chart |
News |
PowerRating) announced it will restate financial results from
2002 onwards. The company plans to raise net income by $500 Mln. AIG also stated
that catastrophe losses for the third quarter will be $1.57 Bln, primarily due
to hurricanes Katrina and Rita (full
story).
For more stories as they happen go to our
Breaking
News section.
Stocks On The Move
GM
(
GM |
Quote |
Chart |
News |
PowerRating) was the worst performing Dow component on Tuesday
and is repeating in that distinction today. The stock is now down 3.8%, testing
a low set in April. DuPont
(
DD |
Quote |
Chart |
News |
PowerRating) and McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating) are also weak, each
with losses of about 1.2%.
There are no blue chips currently a gain of more than 1%.
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) is up nearly 1%, while Disney
(
DIS |
Quote |
Chart |
News |
PowerRating), Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating),
United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) and Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) are each modestly higher.
| Dow |
-0.48 | 10,539.24 |
| NASDAQ |
-2.69 | 2169.38 |
| S&P 500 |
+0.09 | 1218.68 |
| NYSE | NASDAQ | |
| Volume |
857,359,000 | 658,652,000 |
| Advances |
1410 | 1220 |
| Declines |
1638 | 1550 |
| Up Volume |
354 | 242 |
| Down Volume |
393 | 346 |
| New Hi’s |
52 | 61 |
| New Lo’s |
89 | 43 |
|
|
Weakest Sectors |
| Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
Disk Drive ( DDX | Quote | Chart | News | PowerRating) |
| Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
Oil ( XOI | Quote | Chart | News | PowerRating) |
| Airline ( XAL | Quote | Chart | News | PowerRating) |
Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
Ashton Dorkins