TradingMarkets Mid-Day Movers
While comments from Federal
Reserve Chairman Ben Bernanke generated a considerable amount of
buying interest in the previous session, stocks have been unable
to sustain any significant moves in morning trading on Wednesday.
Some traders may be staying
on the sidelines ahead of the release of the Labor Department’s
report on wholesales prices in the month of January on Friday. The
data may shed some light on the viability of Bernanke’s optimistic
comments about the pace of inflation.
Positive earnings news
continues to contribute to some strength among healthcare
provider, health insurance, and disk drive stocks, while energy
stocks remain under pressure amid a steep decline by the price of
oil.
Crude continues to move lower as forecasts call
for warmer weather along the East Coast in the coming weeks.Â
Crude is currently down 1.7% to $57.04 per barrel. Gold for
April delivery is also pulling back currently down 0.7% to $668.20
an ounce.
Our
Daily Market Bias page has been updated with new indicators to
determine if there is a strong bias for the market to move higher
(or lower) the following day. These tables can help you to
pinpoint market conditions that have historically led to
significant up or down moves over the next 1 to 5 days.Â
Click here for more information on our Daily Market Bias
indicators.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com