Reply #30: 11:40 - Much the same now after earlier slip

[Ghost Dog]

Dow 11,971.39 Up 10.88 (0.09%)
Nasdaq 2,364.87 Up 7.58 (0.32%)
S&P 500 1,366.95 Up 1.33 (0.10%)
10-Yr Bond 4.7880% Down 0.0180
NYSE Volume 873,861,000
Nasdaq Volume 693,240,000

11:30 am : The Dow is back in the green but there still isn't much conviction on the part of buyers. Intel (INTC 21.78 +0.18) has regained some of its earlier momentum, contributing to an uptick on all three major averages; but sharp gains of 3.9% and 3.5% on SanDisk (SNDK 61.45 +2.29) and Broadcom (BRCM 30.75 +1.03), respectively, are providing more noticeable support for the tech-heavy Nasdaq. Broadcom was added to Cowen's Focus List while upbeat analyst commentary is also giving SanDisk a boost. DJ30 +5.44 NASDAQ +6.98 SP500 +1.08 NASDAQ Dec/Adv/Vol 1084/1728/612 mln NYSE Dec/Adv/Vol 1082/1978/448 mln

11:00 am : Recent recovery efforts are short-lived as oil prices hitting session highs contribute to the Dow slipping back into the red. Oil, which was under pressure earlier following reports that OPEC cut their 2006 outlook for world oil demand ahead of its emergency meeting Thursday, has since turned positive. Crude futures are trading in sympathy with cold weather in parts of the U.S. boosting the prices of natural gas futures (+7.6%). Intel (INTC 21.65 +0.05) relinquishing most of a 2.0% gain early on that had shares at fresh nine month highs is also stalling some of the market's attempt to extend recent gains.DJ30 -6.97 NASDAQ +4.78 SOX +0.3% SP500 +0.28 NASDAQ Dec/Adv/Vol 1012/1743/480 mln NYSE Dec/Adv/Vol 1053/1932/338 mln

10:30 am : Market rebounds a bit since the last update but only enough to inch the blue chip averages above the flat line. A turnaround in Health Care has been the most noticeable reason for the market's modest improvement. Unitedhealth Group (UNH 49.39 +0.64) opened down 3.3% amid reports of a management shakeup, but further analysis of the news has removed some of the ongoing uncertainty tied to departing chairman and CEO William McGuire. UNH shares are now up 1.3%. DJ30 +9.52 NASDAQ +9.10 SP500 +1.72 NASDAQ Dec/Adv/Vol 939/1751/334 mln NYSE Dec/Adv/Vol 962/1950/222 mln