TradingMarkets Mid-Day Movers
The major averages are
mixed having spent the morning trading in a choppy fashion. The
session started brightly when third quarter GDP was revised to show faster
growth than expected. The news sent stocks higher in early trading despite the
earlier report from the MBA that mortgage loan applications fell again last
week.
However, it was the weekly EIA Petroleum Status
report that sent stocks lower as a large inventory drawdown was reported. The
news pushed all the energies higher with Natural Gas and Unleaded Gas leading
the way.
Treasuries are trading lower while the US Dollar
Index is flat.
Economic Recap
The Mortgage Bankers Association‘s Weekly
Market Index Down 1.8%; Purchase Index Up 0.8%, Refi Index Down 6.3% (report).
GDP Revised To 4.3% Growth In Q3 (report).
Chicago PMI At 61.7 In Nov.
EIA: Crude Oil Inventories Down 4.2 Mln.
Barrels. Gasoline Inventories Down 500,000 Barrels (report).
Stocks On The Move
Tiffany (TIF)
reported third-quarter net earnings that rose 37% to $23.8 million from $17.4
million in the same quarter last year (more).
REX Stores (RSC)
announced third-quarter financial results, reporting earnings that increased
from last year, on higher revenues (more).
Stewart & Stevenson Services (SVC)
announced third quarter net earnings that rose from last year on higher sales (more).
Sasol (SSL)
said it expects earnings growth for the full year to be more in line with the
profit outlook given in September 2005 (more).
Jack in the Box (JBX)
reported fourth-quarter net earnings of $21.5 million, including a $2 million
after-tax charge (more).
BioCryst Pharmaceuticals (BCRX)
and Roche announced an exclusive license agreement to develop and commercialize
BioCryst’s phase I clinical compound BCX-4208 (more).
Nu Skin Enterprises (NUS)
announced that it has reduced its fourth quarter revenue and earnings forecast
primarily due to the continued strengthening of the U.S. dollar against foreign
currencies (more).
Go to our
Breaking
News section for up to the minute market news.
| Dow |
-12.01 | 10,876.15 |
| NASDAQ |
+3.81 | 2236.52 |
| S&P 500 |
-1.61 | 1255.87 |
| NYSE | NASDAQ | |
| Volume |
896,084,000 | 749,453,000 |
| Advances |
1840 | 1714 |
| Declines |
1252 | 1111 |
| Up Volume |
405 | 429 |
| Down Volume |
343 | 257 |
| New Hi’s |
73 | 89 |
| New Lo’s |
45 | 29 |
|
|
Weakest Sectors |
| Disk Drive ( DDX | Quote | Chart | News | PowerRating) |
Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
| Oil Service ( OSX | Quote | Chart | News | PowerRating) |
Banks ( BKX | Quote | Chart | News | PowerRating) |
| Semiconductor ( SOX | Quote | Chart | News | PowerRating) |
Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
Ashton Dorkins
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