TradingMarkets Mid-Day Movers
The major averages are sticking to
the now familiar routine of lackluster trading that we have witnessed for the
past 5-days. Disappointing guidance from Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) is
weighing on the NASDAQ. The Dow and S&P500 are being pressured General Motors
(
GM |
Quote |
Chart |
News |
PowerRating),
which plans to restate 2001 financial results.
A number of economic reports failed to inspire traders to take
any decisive action and with the bond market closed tomorrow for Veteran’s Day
it’s unlikely Friday will see a pickup in activity. A number of our commentators
are expecting an increase in volatility soon and are preparing to take advantage
of it (see
Rob Hanna‘s column from earlier today).
In economic news; Import Prices fell 0.3%, the first decline
in 5-months (report).
Initial Jobless Claims rose 2000, to 326,000 (report)
and the University of Michigan Consumer Sentiment Index preliminary reading for
November was 79.9. Meanwhile the Trade Deficit rose to a new record high of
$66.1 Bln in September (report).
Go to our
Economic News section for the numbers when they are released and analysis.
Treasuries are trading higher, with the US Dollar Index.
Energy prices are falling sharply again today, especially Unleaded Gas (-3.63%)
and Natural Gas (-3.90%) after the EIA reported Natural Gas Inventories were up
61 Bln Cubic Feet. Yesterday’s Petroleum Status Report showed a large build in
crude oil and gasoline inventories.
Energy stocks are sitting near their intraday lows, with
losses of more than 3.3% in the oil, oil service and natural gas sectors. The
utility sector is also weak, as the Dow Jones Utilities Index has fallen
steadily through the morning and is now showing a loss of 1.8%. The gold sector
started the session to the upside, but has been falling since the first few
minutes of trading, now lower by 1.6%.
For more stories as they happen go to our
Breaking
News section.
Stocks On The Move
AMR
(
AMR |
Quote |
Chart |
News |
PowerRating) is extending an uptrend that began in early
October, moving to a new 52-week high. Hospira
(
HSP |
Quote |
Chart |
News |
PowerRating) has jumped above
resistance on quarterly results released before the opening bell, breaking to a
fresh peak. Netflix
(
NFLX |
Quote |
Chart |
News |
PowerRating) has climbed to a new high on a BusinessWeek
story concerning a possible merger.
Movie Gallery
(
MOVI |
Quote |
Chart |
News |
PowerRating) has dropped to a new 52-week low
after reporting a loss for the third quarter compared to a profit in the same
period last year. GM
(
GM |
Quote |
Chart |
News |
PowerRating) has extended its low on a planned restatement, news
that has also dragged competitor Ford
(
F |
Quote |
Chart |
News |
PowerRating) to a fresh nadir. Auto parts maker
Lear
(
LEA |
Quote |
Chart |
News |
PowerRating) has set a new low as well.
| Dow |
+2.40 | 10,548.61 |
| NASDAQ |
-8.81 | 2167.00 |
| S&P 500 |
-2.41 | 1218.24 |
| NYSE | NASDAQ | |
| Volume |
999,889,000 | 856,994,000 |
| Advances |
1141 | 968 |
| Declines |
1959 | 1883 |
| Up Volume |
323 | 238 |
| Down Volume |
588 | 563 |
| New Hi’s |
63 | 74 |
| New Lo’s |
120 | 55 |
|
|
Weakest Sectors |
| Airline ( XAL | Quote | Chart | News | PowerRating) |
Oil ( XOI | Quote | Chart | News | PowerRating) |
| Healthcare ( HMO | Quote | Chart | News | PowerRating) |
Oil Service ( OSX | Quote | Chart | News | PowerRating) |
| Banks ( BIX | Quote | Chart | News | PowerRating) |
Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
Ashton Dorkins