What Does The Price Of A NYSE Seat Say About This Market?
Stocks are lower
Wednesday after several companies, including Coca-Cola, guided
lower. Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) warned that earnings for the rest of the year would be
below estimates. Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating) cut estimates. Tribune
(
TRB |
Quote |
Chart |
News |
PowerRating)
said that Q3 would lag estimates.
Cyclicals are weak, including MMM, -1.81%
and CAT, -1.47%.
Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) hit a 52-week high.
Florida is the company’s third largest market and many people in hurricane paths
buy generators and lumber from the company.
A NYSE seat sold for $1.2 million, 5%
higher than the last seat sold in August for $1.15 million, which was the lowest
level since 1996. The highest price ever paid was $2.65 million in 1999.
OPEC will boost oil production by 1
million bpd.
Martha Stewart said she wants to start her
prison term as soon as possible. MSO is trading up 2%.
US Airways has a new symbol: UAIRQ. The
stock will be de-listed from the Nasdaq on September 22 but will still be traded
on the over the counter bulletin board
As of today, Taser International
(
TASR |
Quote |
Chart |
News |
PowerRating)
is selling stun guns online, at their website
www.taser.com. The Taser X26C retails for
$999. The stock was halted at 11:10; UK has approved the use of stun guns by
police.
| Dow | -71.53 | 10246.04 |
| S&P 500 | -7.26 | 1120.43 |
| Nasdaq | -21.47 | 1894.03 |
Strong today are: Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating)
+0.76%, REITs
(
RMS.X.X |
Quote |
Chart |
News |
PowerRating) +0.48%.
Weak are: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
-3.36%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.89%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating)
-1.58%
10-year Notes are +020 at 113 215
The dollar
is -0.19 at 88.36
Gold is +3.40 at 406.40
Crude Oil is +1.27 at 44.08
Volume is 598 million on
the NYSE and 829 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1149 | Up Vol 137 |
| Declining | 1932 | Down Vol 414 |
| Ratio | 1.68 | 3.02 |
| Nasdaq |
||
| Advancing | 907 | Up Vol 215 |
| Declining | 1991 | Down Vol 573 |
| Ratio | 2.19 | 2.66 |
Stocks in the News
Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating) beat estimates by a penny.
Best Buy
(
BBY |
Quote |
Chart |
News |
PowerRating) also beat by a penny.
Brice Wightman