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Stocks slide despite crude inventory increase

By Brice Wightman | TradingMarkets.com
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Despite a rise in crude inventories, investor sentiment was bearish as all major markets ended the day in red.

The Energy Department recorded a rise in crude inventories for the second week in a row.

Crude oil futures dropped below the $60 mark as Energy Dept. announces an increase in inventories.

Stocks On The Move

CMS Energy (CMS | Quote | Chart | News | PowerRating) Power Rating Posts Q4 Reported Loss Due To Huge Impairment Charges (full story).

Safeway (SWY | Quote | Chart | News | PowerRating) Power Rating Q4 Profit Falls 14% On Store Closing, Employee Buyout Charges (full story).

MGM Mirage (MGM | Quote | Chart | News | PowerRating) Power Rating Q4 EPS Up 25% As Top-line Growth Carries Through To Profit Line (full story).

Host Marriott (HMT | Quote | Chart | News | PowerRating) Power Rating Q4 FFO Up 26% On Higher Revenues; Sees Q1 FFO Below Consensus (full story).

CBS (CBS | Quote | Chart | News | PowerRating) Power Rating Q4 Loss Narrows; See Mid Single-digit Growth In FY06 EPS (full story).

Schering (SHR | Quote | Chart | News | PowerRating) Power Rating To Divest Radiopharmaceutical Business; Sees One-time Impact Of About 50 Mln Euros In FY06 (full story).

Toll Brothers (TOL | Quote | Chart | News | PowerRating) Power Rating Q1 Profit Climbs 49% On Home Sales, But Contracts Drop; Cuts FY06 Profit Forecast (full story).

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

Dow

-67.87

11,069.30

NASDAQ

-3.85

2,279.32

S&P 500

-4.89

1,287.78

NYSE

NASDAQ

Volume

2,061,084,000

1,746,209,000

Advances

1436

1332

Declines

1837

1683

Up Volume

687

756

Down Volume

1134

818

New Hi's

234

150

New Lo's

20

18

 

Strongest Sectors

Weakest Sectors

Morgan Stanley Hlth (RXH | Quote | Chart | News | PowerRating) Gold and Silver (XAU | Quote | Chart | News | PowerRating)
North American Telecoms (XTC | Quote | Chart | News | PowerRating) Amex Gold Bugs (HUI | Quote | Chart | News | PowerRating)
Nasdaq Combined Finance (OFINX | Quote | Chart | News | PowerRating) GSTI Hardware (GHA | Quote | Chart | News | PowerRating)

Economic News

Jobless Claims Unexpectedly Fell Last Week (full story).

Crude Oil Inventories Rise (full story).

John Patrick Lee
johnl@tradingmarkets.com

To sign up for Gary Kaltbaum's training classes, along with other exciting TradingMarkets educational sessions, click here.


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