Reply #42: High noon numbers Single color...red

[54anickel]

Dow 10,566.48 -30.31 (-0.29%)
Nasdaq 2,052.92 -22.14 (-1.07%)
S&P 500 1,187.56 -5.63 (-0.47%)
10-yr Bond 4.173% +0.03
30-yr Bond 4.592% +0.01
NYSE Volume 652,618,000
Nasdaq Volume 918,714,000

11:30AM : Little change since the last update as a firmly bearish bias remains intact... Decliners on both the NYSE and the Nasdaq hold a more than 2 to 1 margin over advancers while the ratio of down to up volume also reflects a similar lead at both the Big Board and the Composite, as down volumes convincingly outpace up volumes... Meanwhile, both the Dow and S&P have failed to hold support at key levels of 10575 and 1189, respectively, while the Nasdaq has recently fallen through a secondary support level (2056), as technology paces the way to the downside...NYSE Adv/Dec 1011/2010, Nasdaq Adv/Dec 887/1937

11:00AM : Indices continue to languish near their lows of the session as buying interest remains scarce across the board... Bucking the bearish trend, however, has been telecom services (+0.4%)... The sector has been in focus following a spate of M&A activity, with reports today suggesting that Qwest Communications (Q 4.26 +0.06) is in talks to acquire MCI Inc. (MCIP 20.16 +0.48) for roughly $6.3 bln, as is Verizon Communications (VZ 36.05 +0.17)... Shares of SBC Communications (SBC 24.56 +0.17), which just recently confirmed (Jan 27) talks to acquire AT&T (T 19.57 -0.03), have also climbed...

Sprint (FON 24.24 -0.24), which is merging with Nextel (NXTL 29.28 -0.20) in a $35 bln deal, has also made headlines after nearly quadrupling profits and reaffirming its FY05 outlook, but shares have fallen since Q4 results missed analysts' forecasts by a penny...NYSE Adv/Dec 1081/1858, Nasdaq Adv/Dec 925/1832

10:30AM : Market continues to head lower as investors sift through mixed economic data... The January ISM services index fell 4.7 points to a strong 59.2% (consensus 61.0) as all of the survey's components (outside inventory sentiment) showed declines but still stood at relatively strong levels... Dec factory orders rose just 0.3% (consensus +0.6%), as the revision of 1.1% to durable goods orders nearly doubled what was initially reported, but were met by a surprise 0.6% decline in nondurable goods...

Earlier, Q4 productivity rose only 0.8% (consensus +1.8%), growing at the slowest rate in nearly four years, but not necessarily suggesting a change in productivity trends while weekly jobless claims fell 9K to 316K (consensus 330K), marking the third straight week below 324K...NYSE Adv/Dec 1012/1820, Nasdaq Adv/Dec 931/1700



Advances & Declines
NYSE Nasdaq
Advances 1133 (34%) 972 (32%)
Declines 1964 (60%) 1890 (62%)
Unchanged 175 (5%) 159 (5%)

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Up Vol* 189 (31%) 212 (24%)
Down Vol* 400 (67%) 645 (74%)
Unch. Vol* 6 (1%) 7 (0%)

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New Hi's 141 80
New Lo's 16 30


And the buck:
Last trade 84.01 Change +0.49 (+0.59%)

Settle 83.52 Settle Time 23:37

Open 83.65 Previous Close 83.52

High 84.11 Low 83.52