Nasdaq leads the major indices to the downside
finishing lower by over 1%.
Crude oil futures close higher by 0.7% at $60.75.
Thursday's
market action created new 10 day intraday highs as well as advancers beating
decliners by 2-1 on both the S&P 500 Index and Nasdaq Composite
(explanations below), which are bearish signals. It will be interesting
to see if we get more bearish signals today and through next week (click
here for more info).
Stocks on the
Move
Cemex (CX | news | PowerRating | PR Charts ) Plans US$12.8 Bln Takeover Bid
For Australia-based Rinker Group (RIN | news | PowerRating | PR Charts ) (full
story). CX shares fall 4.5%, while RIN shares jump 33%.
Red Hat (RHAT | news | PowerRating | PR Charts ) Board OKs $325 Mln Buyback
Of Stock, Debenture (full
story). RHAT shares rise by over 5%.
Revenue Growth Lifts Coventry Health Care (CVH | news | PowerRating | PR Charts )
Q3 Profit By 11%, Guides Q4, FY07 EPS Below Estimates (full
story). CVH shares fall by 0.6%.
Chevron (CVX | news | PowerRating | PR Charts ) Q3 Profit Surges 40%, EPS
Tops Analysts' View. CVX shares close fractionally higher.
Inco (N | news | PowerRating | PR Charts ) Says It Approves Plan To De-List
From NYSE; Reveals Resignation Of Board Members (full
story). N shares rise by 0.4%.
Pharmaceutical Segment Revenues Lift Cardinal
Healthcare (CAH | news | PowerRating | PR Charts ) Q1 EPS; Reiterates FY07 EPS Outlook (full
story). CAH shares fall by over 1%.
Baker Hughes (BHI | news | PowerRating | PR Charts ) Q3 Profit Surges; EPS
From Cont. Ops. Tops Consensus By A Penny; Revenue Climbs 29%; Lifts FY06
Forecast (full
story). BHI shares fall by over 5%.
For more stories as they happen, go to our Breaking
News section.
Market Snapshot
|
Dow |
-73.40 |
12,090.26 |
|
NASDAQ |
-28.48 |
2,350.62 |
|
S&P 500
|
-11.74 |
1,377.34 |
|
|
NYSE |
NASDAQ |
|
Volume |
2,380,918,000 |
2,191,137,000 |
|
Advances |
1147 |
1007 |
|
Declines |
2125 |
2005 |
|
Up Volume |
128 |
145 |
|
Down Volume |
1627 |
1368 |
|
New Hi's |
254 |
165 |
|
New Lo's |
18 |
35 |
Strongest/Weakest Sectors
|
Strongest
Sectors |
Weakest
Sectors |
|
Morgan Stanley Healthcare
Providers Index (RXH) |
PHLX Oil Services Sector (OSX) |
| Morgan Stanley Healthcare Payors Index (HMO) |
Amex Disk Drive Index (DDX) |
| GSTI Internet Index (GIN) |
GSTI Semiconductor Index (GSM) |
Economic
News
Q3 GDP Price Index - Up 1.8%
Oct. U. Of Mich.
Consumer Sentiment Index At 93.6
Darren Wong
darrenw@tradingmarkets.com
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
10
Day High Alert- This is an alert that the market has hit a 10 day new
high intra-day today. Historically this has meant that when the market is above
its 200 day ma, little progress has been seen over the next 2-5 days (on
average) as the market is either overbought or nearing overbought conditions.
It's a good place to be taking profits. When the market is below its 200 day ma
and the market hits a new 10 day high, it has been, on average, a good place to
be looking to put on short positions.
Adv.
Issues > Dec. Issues 3 Days In A Row- Too many stocks rising in one
day or over multiple days usually precede a market that will be quiet or drop.
Too many stocks declining in one day or over multiple days usually precede a
market rally, especially when the market is above its 200 day ma.
