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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-11-05 11:20 AM
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40. 12:17 lunchtime check-in
Dow 10,515.60 +66.46 (+0.64%)
Nasdaq 2,130.88 +18.00 (+0.85%)
S&P 500 1,218.38 +6.52 (+0.54%)
10-Yr Bond 41.40 +0.31 (+0.75%)

NYSE Volume 846,332,000
Nasdaq Volume 916,386,000

12:00PM : Market holding steady at sharply higher levels midday, as falling oil prices, fresh M&A news and growing optimism about upcoming earnings reports lift virtually every sector... Ongoing weakness in crude oil futures ($58.35/bbl -$1.28), amid reports that Hurricane Dennis caused less damage and fewer supply disruptions than initially anticipated, has helped calm investors' nerves about high energy prices weighing on corporate profit margins, as Q2 earnings season gets underway...

Current estimates have Q2 aggregate EPS growth for the S&P checking in around 7%, but final EPS growth rates every quarter come in about 2-5% above the forecast at the start of the earnings reports, which could leave Q2 EPS growth around 9-12% when it's all said and done, much closer to the 13% growth realized in Q1... Several new M&A deals, such as VNU's $7 bln bid for IMS Health (RX 26.46 +0.57) and Pogo Producing's (PPP 54.34 -0.44) $1.8 bln bid for Unocal's (UCL 65.89 +0.15) Northrock Resources, have also helped improve sentiment across the board...

Meanwhile, The Materials sector, benefiting in part from dollar weakness, continues to lead the charge to the upside, after Deutsche Bank reiterated their Buy rating on DuPont (DD 44..26 +0.76) and a CSFB upgraded the Metals/Mining industry on valuation... Technology, however, has been a more influential leader to the upside, benfiting in part from positive comments from Bear Stearns about DRAM pricing (i.e. MU)... Health Care has traded higher, getting a boost from an analyst upgrade on Schering-Plough (SGP 19.31 +0.34) and upside Q1earnings guidance from Mylan Labs (MYL 19.94 +0.53)...

Even though benchmark yields have hit their highest levels since mid June, interest-rate sensitive areas like Financial and Utilities have shown relative strength, with the former taking advantage of strength in brokerage, banks and a relief rally in insurance following the downgrade of Hurricane Dennis to a tropical depression... The Treasury market has been weak across the board, as investors rotate out of fixed income products and into stocks... The 10-year note is off 10 ticks to yield 4.13%... A recent turnaround in Energy, which opened lower amid falling oil prices, has also provided some early support, as analysts' expectations of Q2 EPS growth for the sector have been raised to about 33% (from 27% last week)... DJTA +1.1, DJUA +0.8, DOT +1.3, Nasdaq 100 +0.7, Russell 2000 +1.4, SOX +1.5, S&P Midcap 400 +0.7, XOI +0.2, NYSE Adv/Dec 2241/855, Nasdaq Adv/Dec 2083/804

11:30AM : Market continues to climb at the expense of ongoing deterioration in oil prices... Crude oil futures recently falling to fresh session lows around $58.10/bbl (-$1.53) has helped pave the way for strong follow-through buying interest in equities... Despite hitting record levels last week, declines in the commodity on Thursday and Friday, coupled with encouraging employment data, helped the Dow, S&P and Nasdaq record strong gains of 1.4%, 1.5% and 2.7%, respectively, heading into the weekend... NYSE Adv/Dec 2215/828, Nasdaq Adv/Dec 2031/818

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  -STOCK MARKET WATCH, Monday 1 July ozymandius  Jul-11-05 05:31 AM   #0 
  - WrapUp by Tim W. Wood  ozymandius   Jul-11-05 05:36 AM   #1 
  - Great toon Ozy. Those future charts are even a bigger laugh this  54anickel   Jul-11-05 07:26 AM   #2 
  - Back to the Drawing Board (Roach)  54anickel   Jul-11-05 07:31 AM   #3 
  - From the trenches, I can say you are fairly accurate in your analysis.  geckosfeet   Jul-11-05 09:38 AM   #28 
     - The bill will not come due until the "wealth illusion" finally pops and  54anickel   Jul-11-05 10:57 AM   #37 
  - Dollar's strength weakens overseas earnings  54anickel   Jul-11-05 07:34 AM   #4 
  - Goodbye Middle Class; Hello House Poor  54anickel   Jul-11-05 07:41 AM   #5 
  - Luxury home buying, improvement rising - Coldwell  UpInArms   Jul-11-05 08:34 AM   #16 
  - Glad to see some folks are doing well in these seemingly difficult  54anickel   Jul-11-05 09:09 AM   #22 
  - U.K./U.S. Housing and the Upcoming Liquidity Trap  54anickel   Jul-11-05 08:58 AM   #21 
  - Oil Falls a Third Day as Hurricane Dennis Misses U.S. Gulf Rigs  54anickel   Jul-11-05 07:49 AM   #6 
  - Guess that'll shoot the Dow over 10,500 today  Roland99   Jul-11-05 07:54 AM   #7 
     - That appears to be this mornings target from the Futures page  54anickel   Jul-11-05 08:00 AM   #8 
     - I just fear a crash well below 10k is coming...and not far off  Roland99   Jul-11-05 08:08 AM   #9 
     - it's almost there  UpInArms   Jul-11-05 08:52 AM   #20 
  - China's Trade Surplus Swells as Exports Reach Record  54anickel   Jul-11-05 08:09 AM   #10 
  - daily dollar watch  UpInArms   Jul-11-05 08:14 AM   #11 
  - Heh-heh, look at the 1 year chart and we've almost come full circle  54anickel   Jul-11-05 11:43 AM   #43 
  - Dollar falls; trade data awaited  UpInArms   Jul-11-05 08:20 AM   #12 
  - China June trade surplus swells five-fold  UpInArms   Jul-11-05 08:21 AM   #13 
  - If a foreign based company sets up shop in China, and sells the product  54anickel   Jul-11-05 08:33 AM   #15 
  - This thread is of particular interest to me, and I suspect many others.  geckosfeet   Jul-11-05 08:27 AM   #14 
  - 8:39 EST numbers and pre-opening blather  UpInArms   Jul-11-05 08:40 AM   #17 
  - U.S. Treasuries slip at start of data-heavy week  UpInArms   Jul-11-05 08:44 AM   #18 
  - U.S. 2-Year Treasuries May Fall as Fed Fights Housing `Froth'  54anickel   Jul-11-05 09:29 AM   #25 
  - Treasury trims size of 5-year note, 10-year TIP auction  UpInArms   Jul-11-05 10:25 AM   #36 
  - Firms pile up earnings warnings  54anickel   Jul-11-05 08:46 AM   #19 
  - Good morning 54anickel and everyone.  ozymandius   Jul-11-05 09:12 AM   #23 
  - Good morning Ozy! Yes, it seems their goal is to put on the "This is  54anickel   Jul-11-05 09:21 AM   #24 
  - morning Ozy (and all)!  UpInArms   Jul-11-05 09:29 AM   #26 
  - Warnings don't mean squat anymore.  Roland99   Jul-11-05 09:57 AM   #32 
  - PCAOB Probing Deloitte Audit  54anickel   Jul-11-05 09:33 AM   #27 
  - Fed's Lacker-too early to foresee Fed pause  UpInArms   Jul-11-05 09:44 AM   #29 
  - Jaw-bonin' it's about all they've got left aside from Ben's printing  54anickel   Jul-11-05 09:51 AM   #31 
  - G-8 Meet To `Manage' Hedge-Fund Crisis  54anickel   Jul-11-05 09:47 AM   #30 
  - Bride of Frankenmarket  54anickel   Jul-11-05 10:03 AM   #33 
  - Trust Fund & Step-Father (Jim Wille)  54anickel   Jul-11-05 10:14 AM   #34 
  - 11:21 EST numbers and blather (no fear of flying)  UpInArms   Jul-11-05 10:23 AM   #35 
  - Decoupling the gold price  54anickel   Jul-11-05 11:12 AM   #38 
  - KKR, Blackstone Fuel Record Buyout Fees for Investment Bankers  54anickel   Jul-11-05 11:17 AM   #39 
  - 12:17 lunchtime check-in  54anickel   Jul-11-05 11:20 AM   #40 
  - Sprint To Acquire US Unwired For $1.3 Billion  54anickel   Jul-11-05 11:35 AM   #41 
  - UPDATE 4-Unocal to sell Canada assets to Pogo for $1.8 bln  54anickel   Jul-11-05 11:38 AM   #42 
  - Mitsubishi Heavy says may bid for Westinghouse  54anickel   Jul-11-05 11:46 AM   #44 
  - UPDATE 2-GE, Canadian firm to buy U.S. gas pipeline system  54anickel   Jul-11-05 11:49 AM   #45 
  - 12:53 numbers and blather  ozymandius   Jul-11-05 11:55 AM   #46 
  - Stocks Extend Advance As Oil Prices Dip  ozymandius   Jul-11-05 11:59 AM   #47 
     - PHFFT! In other words, people have no place else to go...  54anickel   Jul-11-05 12:07 PM   #49 
     - Stocks Rise on News of Corporate Deals  54anickel   Jul-11-05 01:33 PM   #59 
  - Payrolls Reality Check  54anickel   Jul-11-05 12:05 PM   #48 
  - Check out Papau's latest look at the birth/death figures over in the  54anickel   Jul-11-05 12:28 PM   #52 
  - Whoa. Slipping a bit there.  ozymandius   Jul-11-05 12:14 PM   #50 
  - WTF is up with bonds again?...n/t  54anickel   Jul-11-05 12:17 PM   #51 
     - Perhaps today's 2-year auction is hammering the 10-year too.  ozymandius   Jul-11-05 01:05 PM   #54 
  - Sceptical US reports some progress in China talks  54anickel   Jul-11-05 12:35 PM   #53 
  - 2:23pm numbers  Roland99   Jul-11-05 01:23 PM   #55 
  - another twin!  UpInArms   Jul-11-05 01:26 PM   #57 
     - Woo hoo!  Roland99   Jul-11-05 01:32 PM   #58 
  - 2:23 EST numbers and blather  UpInArms   Jul-11-05 01:25 PM   #56 
  - 10,500 still just out of reach? Thought for sure they'd jump that hurdle  54anickel   Jul-11-05 01:41 PM   #61 
     - They're pacing themselves now.  Roland99   Jul-11-05 02:20 PM   #65 
  - Pollution case against US miner  54anickel   Jul-11-05 01:39 PM   #60 
  - Retail gasoline price reaches new record: AAA  UpInArms   Jul-11-05 01:51 PM   #62 
  - Well, he's been on the horn with OPEC and his Saudi friends, of course  54anickel   Jul-11-05 01:56 PM   #63 
     - when he made that spigot statement  UpInArms   Jul-11-05 02:04 PM   #64 
  - Federal Deficit Reality: An Update (Ugh!)  54anickel   Jul-11-05 02:41 PM   #66 
  - Cripes, check the 3:30 blather  54anickel   Jul-11-05 03:01 PM   #67 
  - This would suggest an impending selloff.  ozymandius   Jul-11-05 03:36 PM   #69 
  - close with blather  ozymandius   Jul-11-05 03:24 PM   #68 
  - WTF is that about?  54anickel   Jul-11-05 08:46 PM   #70 
  - Oil reclaims lost ground in after hours (Cripessake!)  54anickel   Jul-11-05 09:24 PM   #71 

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