TradingMarkets Mid-Day Movers
Stocks are seeing some strength in late
morning trading on Monday, although buying interest has remained subdued as
traders look ahead to the Federal Reserve’s announcement of its decision on
interest rates as well as a slew of key economic data.
Leading the S&P 500 today is Bristol Myers Sqibb
(
BMY |
Quote |
Chart |
News |
PowerRating), which reportedly is in merger talks with Sanofi-Aventis
(
SNY |
Quote |
Chart |
News |
PowerRating).Â
This would create the world’s largest drug company. BMY shares are trading
higher by nearly 6%.
After seeing some weakness earlier in the
session, the price of gold has turned higher over the course of the trading day
on Monday. Gold for February delivery is currently up $3 at $647.70 an ounce
after hitting a low of $640.80 an ounce.
The price of oil is giving back some
ground in morning trading on Monday. Crude for March delivery is currently down
$0.29 at $55.13 a barrel after rising 3.8 percent over the course of last week.
The price decrease comes as traders are
doing some profit taking even though forecasts call for a continuation of colder
weather across the U.S. East Coast into at least the first week of February. The
colder weather will lead to increased heating oil demand.
The
PowerRatings
Heat Maps*
from Friday’s close is showing action that has historically led to weakness with
the Diversified Services and Metals and Mining sectors looking the most
vulnerable.
Stocks on the Move
Phelps Dodge
(
PD |
Quote |
Chart |
News |
PowerRating) Q4 Net Income Surges On Higher Revenues, Stronger
Metal Prices (full
story). PD shares are trading lower by 0.75%.
Merrill Lynch
(
MER |
Quote |
Chart |
News |
PowerRating) To Buy First Republic Bank
(
FRC |
Quote |
Chart |
News |
PowerRating) In
$1.8 Bln Cash-stock Deal (full
story). MER shares lose 1.4%, while FRC shares soar by 40%.
Mattel
(
MAT |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up 3%, On 14% Sales Growth (full
story). MAT shares rise 1%.
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) To Buy Prudential’s Egg Banking For $1.13 Bln Cash (full
story). C shares lose 1%.
Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) Q4 Profit Increases On Higher Prescription
Drug Sales, Cholesterol Joint Venture Profit (full
story). SGP shares are trading lower by 1%.
For more stories as they happen, go to our
Breaking News section.
Market Snapshot
|
Dow | +22.91 | 12,509.93 |
| NASDAQ | +3.95 | 2,439.44 |
|
S&P 500 | +1.08 | 1,423.26 |
|
NYSE |
| |
|
Volume | 1,013,976,000 | 752,585,000 |
|
| 1981 | 1724 |
|
Declines | 1114 | 1140 |
|
Up Volume | 527 | 409 |
|
Down Volume | 355 | 275 |
|
New Highs | 139 | 125 |
|
| 9 | 28 |
Strongest/Weakest Sectors
| Strongest Sectors | Weakest Sectors |
|
Amex Airline Index | Nasdaq Other Finance Index (OFIN) |
Morgan Stanley Healthcare Providers Index (RXH) | S&P Chemicals Index (CEX) |
Nasdaq Transportation Index (TRANX) | Nasdaq Telecommunications Index (IXTC) |
Economic News
No economic reports released today.
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