TradingMarkets Mid-Day Movers
The major averages are trading higher,
boosted by a further drop in Crude Oil, a rebound in Durable Goods Orders,
rising Consumer Confidence and a jump in New Home Sales.
Surprisingly it was New Home Sales that attracted the most
attention from traders after the recent run of poor housing data that has been
fueling speculation the housing boom may be coming to an end. The numbers didn’t
disappoint though and stocks pushed on to hit session highs shortly after the
data was released.
October Durable Goods Orders Up 3.4% (report).
Conference Board: November Consumer Confidence At 98.9
(report).
New Home Sales Up 13% To Rate Of 1.42 Mln. Units (report).
Go to our
Economic News section for reports and analysis.
Treasuries are trading lower, while the US Dollar Index is
trading higher. Crude Oil is trading lower but Unleaded Gas, Heating Oil and
Natural Gas are all trading higher.
Stocks On The Move
Weyerhaeuser (WY)
revealed that it planned to divest its composite panels business with a view to
strengthening shareholders returns and concentrate on its business portfolio (more).
Northrop Grumman (NOC)
revealed that the U.S. Air Force has awarded a five-year, $532 million contract
for the Joint Surveillance Target Attack Radar System Improvement Program (more).
Freeport-McMoRan Copper & Gold (FCX)
announced fourth quarter-to-date operating performance through late November
2005 is running below estimates (more).
Mylan Laboratories (MYL)
revealed that Mylan Pharmaceuticals has received final approval from the U.S.
Food and Drug Administration for its Abbreviated New Drug Application (more).
Anheuser-Busch (BUD)
now expects earnings per share for the full year 2005 to be down about 10% – 11%
(more).
Activision (ATVI)
announced that it has signed an agreement with Spider-Man Merchandising and Sony
Pictures to extend its exclusive worldwide publishing rights to the Spider-Man
motion pictures through 2017 (more).
Dendreon (DNDN)
reached an agreement with the U.S. Food and Drug Administration to amend the
design of its ongoing Phase 3 clinical trial of PROVENGE (more).
Go to our
Breaking
News section for more stories as they happen.
| Dow |
+46.34 | 10,937.06 |
| NASDAQ |
+5.54 | 2244.91 |
| S&P 500 |
+5.25 | 1262.71 |
| NYSE | NASDAQ | |
| Volume |
964,491,000 | 777,688,000 |
| Advances |
2081 | 1601 |
| Declines |
1027 | 1226 |
| Up Volume |
522 | 437 |
| Down Volume |
329 | 247 |
| New Hi’s |
96 | 81 |
| New Lo’s |
71 | 36 |
|
|
Weakest Sectors |
| Healthcare ( HMO | Quote | Chart | News | PowerRating) |
Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
| Chemical ( CEX | Quote | Chart | News | PowerRating) |
Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
| Insurance ( IUX | Quote | Chart | News | PowerRating) |
Airline ( XAL | Quote | Chart | News | PowerRating) |
Ashton Dorkins