Read Larry Connors' blog – Short Term Trading Strategies
Major indices trade lower after slew of data. Crude oil futures rise in morning trading by 1.7% to $59.55.
Monday's market action created a 10-day intraday high as on the the Nasdaq (explanations below), which is a bearish signals. It will be interesting to see if we get more bearish signals next week and if any trigger on the SPX, which is nearing its 52-week high level (click here for more info).
Sales Growth Drives Wal-Mart's (WMT | Quote | Chart | News | PowerRating) Q3 Profit Up 12%; EPS Beats Estimate; Cuts FY07 View (full story). WMT shares rise by 2%.
Home Depot (HD | Quote | Chart | News | PowerRating) Q3 Profit Drops 3%; EPS Up, Misses Consensus; Revenues Rise 11%, Comps. Drop; Trims FY06 Growth View (full story). HD shares trade lower by 0.7%.
Staples (SPLS | Quote | Chart | News | PowerRating) Q3 Profit Rises 29%, Revenues Up 12%, Guides Q4, Sees FY06 EPS To Exceed Its Earlier Target (full story). SPLS shares fall by 2.25%.
Express Scripts (ESRX | Quote | Chart | News | PowerRating) Sees 2007 EPS Of $3.90 To $4.02, Analysts Expect $3.84 (full story). ESRX shares rise by over 3%.
American Eagle Outfitters, Inc. (AEOS | Quote | Chart | News | PowerRating) reported third quarter EPS of $0.66, compared to $0.47 last year (full story). AEOS shares rise by 1.2%.
China Medical Technologies Inc. (CMED | Quote | Chart | News | PowerRating) Confirms Q3 Targets (full story). CMED shares fall by nearly 4%.
For more stories as they happen, go to our Breaking News section.
|
Dow |
-39.86 |
12,092.02 |
|
NASDAQ |
-6.69 |
2,399.69 |
|
S&P 500 |
-3.98 | 1,380.48 |
|
NYSE |
NASDAQ | |
|
Volume |
1,287,006,000 |
772,322,000 |
|
Advances |
1579 |
1154 |
|
Declines |
1498 |
1725 |
|
Up Volume |
611 |
294 |
|
Down Volume |
561 |
411 |
|
New Hi's |
186 |
118 |
|
New Lo's |
17 |
48 |
|
Strongest Sectors |
Weakest Sectors |
|
PHLX Oil Services Sector Index (OSX) |
PHLX Gold and Silver Sector Index (XAU) |
| Amex Disk Drive Index (DDX) | Amex Gold Bugs Index (HUI) |
| Computer Hardware Index (HWI) | Amex Airline Index (XAL) |
Producer prices fell 1.6% in October matching a 5 year low.
Retail sales fell 0.2%.
Business inventories rose 0.4% in September vs. 0.6% expected increase.
Darren Wong
darrenw@tradingmarkets.com
Use our most popular trading tool to find out how your stocks will move in the next 5 days.
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