TradingMarkets Mid-Day Movers

  • January 16, 2007
  • Darren Wong

After turning in
strong performances last week, the U.S. stock markets are showing a lack of
direction in morning trading on Tuesday. The major averages have been
unable to sustain any significant moves.

After turning higher over the course of
the previous session, the price of oil has pulled back sharply in morning
trading on Tuesday. Crude for February delivery is currently down $1.44 at
$51.55 a barrel.

The decrease by the price of oil comes on
the heels of news that Saudi Arabia’s oil minister said that there is no need
for OPEC to hold an emergency meeting, saying that previously announced
production cuts are working.

The price of gold has moved lower in
morning trading on Tuesday, giving back some ground after showing a notable
upward move in the previous session. After ending Friday’s trading up $13 an
ounce, gold for February delivery is currently down $2.40 at $624.50 an ounce.


By looking at our new PowerRatings
Heat Maps*,
most sectors are showing considerable weakness with Drugs, Electronics, and
Internet sectors showing the most weakness. 

Stocks on the Move

Freeport-McMoRan Copper & Gold
(
FCX |
Quote |
Chart |
News |
PowerRating) Q4 EPS Falls On Lower
Production (full
story).  FCX shares fall by 2.25%.

TD Ameritrade
(
AMTD |
Quote |
Chart |
News |
PowerRating) Q1 Profit Surges 69%, Revenue Climbs 93%,
Back FY07 EPS Forecast (full
story).  AMTD shares jump 6% in early trading.

Forest Labs
(
FRX |
Quote |
Chart |
News |
PowerRating) Q3 Profit Surges 28% Helped By Namenda, Lexapro
Sales, Boosts FY07 EPS Outlook (full
story).  FRX shares fall by 2.2%.

IndyMac
(
NDE |
Quote |
Chart |
News |
PowerRating) Cuts Q4 EPS Outlook On Slowdown In Mortgage, Housing
Markets; To Maintain Quarterly Dividend At Current Level (full
story).  NDE shares drop nearly 7%.

For more stories as they happen, go to our
Breaking News section.

Market Snapshot

Dow


+4.96
12,561.04

NASDAQ
-1.23
2,501.59

S&P 500


+0.47
1,431.20

NYSE


NASDAQ

Volume
1,128,076,000
993,734,000


Advances
1652
1546

Declines
1475
1380

Up Volume
484
380

Down Volume
521
506

New Highs
227
179


New Lows
8
20


Strongest/Weakest Sectors



Strongest Sectors

Weakest Sectors

Amex Airline Index (XAL)
Amex Gold Bugs Index (HUI)

S&P Chemical
Index (CEX)
Nasdaq Telecommunications Index (IXTC)

Dow Jones Equity REIT Index (DJR)

Amex Oil Index (XOI)


Economic News

NY Empire State Index 9.1 vs 20.0 consensus

Darren Wong
darrenw@tradingmarkets.com



P.S.

Click here to use PowerRatings to identify stocks that could potentially
move higher in the next few days.

* PowerRatings Heat Maps is a powerful tool, which can help you make sense of
the markets in an instant.  For a free trial to PowerRatings Heat Maps
click
here.Â