In today's first half of trading, traders are
still deciphering what today's economic reports reflect and many are still
uncertain about earnings for some companies. The U.S. unemployment rate
unexpectedly fell to 5.6% in January, the lowest in five months. This could be
another sign the recession may be ending.
In a separate report, the factory index of the
Institute for Supply Management rose to 49.9. That's its highest level since the
manufacturing slump began 1 1/2 years ago and shows orders and production
increased. This may help spark hiring in coming months and fuel a rebound for an
economy that slipped into recession last March.
U.S. stocks are falling today, led by General
Electric
(
GE |
Quote |
Chart |
News |
PowerRating), Citigroup
(
C |
Quote |
Chart |
News |
PowerRating), American Express
(
AXP |
Quote |
Chart |
News |
PowerRating)
and
(
INTC |
Quote |
Chart |
News |
PowerRating) on concerns shares are too expensive compared with
forecasts for corporate profits this year. Waste Management
(
WMI |
Quote |
Chart |
News |
PowerRating) is
trading lower after the country's largest waste hauler's fourth quarter profit
missed estimates. Morgan Stanley Dean Witter & Co. MWD dropped after
the brokerage's Japan unit received a five-week ban from trading stocks for its
own account for violating securities regulations.
The Amex Biotechnology Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
is moving off of support levels. Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) is leading the Index
up with the good news that they won approval to sell Neulasta, the drug that
will replace Neupogen. Yesterday, Amgen tested its support level at 55.00. Today
it gapped at the morning opening and continues to hold on to its 2.00 increase.
Stocks With Unusually High Volume
Photon Dynamics
(
PHTN |
Quote |
Chart |
News |
PowerRating) is breaking
above its 40.00 resistance level.
ESS Tech
(
ESST |
Quote |
Chart |
News |
PowerRating) is breaking above its
22.00 resistance level.
OSI Systems
(
OSIS |
Quote |
Chart |
News |
PowerRating) is hitting a
52-week high. OSIS has been breaking out of an ascending triangle.
Career Education
(
CECO |
Quote |
Chart |
News |
PowerRating) is trading
above its 36.00 resistance level.
Accredo Health
(
ACDO |
Quote |
Chart |
News |
PowerRating) is trading in a
Trend Pivot Pullback. ACDO has a TradingMarkets.com
3-month RS ranking of 84. It is up .77 at 48.75.
Atlantic Coast Airlines
(
ACAI |
Quote |
Chart |
News |
PowerRating) is pulling
back to the 20-day moving average. ACAI is down 0.52 to 26.83 and is
carrying a 3-month
relative strength rank of 88 from TradingMarkets.com.
Click here for New
60-day Highs on Double-Volume
