Reply #41: 11:15 Hesitating

[Ghost Dog]

Dow 12,471.88 Up 55.12 (0.44%)
Nasdaq 2,465.95 Up 12.10 (0.49%)
S&P 500 1,430.43 Up 4.94 (0.35%)
10-Yr Bond 4.5280% Down 0.0670
NYSE Volume 1,197,014,000
Nasdaq Volume 951,330,000

11:00 am : The market continues to show a good deal of resilience to selling efforts. That is understandable today given the broad-based leadership and the hopeful view that the November CPI report will encourage the FOMC to embrace the option of cutting interest rates sooner rather than later. Separately, the bullish bias is reflected in the fact that 8 Dow components hit new 52-week highs today. General Electric (GE 37.09, +0.88) highlights the list and is followed by Coca-Cola (KO 49.11, +0.11), AT&T (T 35.93, +0.27), DuPont (DD 48.63, +0.23), Citigroup (C 53.70, +0.59), Microsoft (MSFT 30.09, +0.02), Disney (DIS 34.71, -0.01) and McDonald's (MCD 43.60, -0.09). The latter two stocks are recommended holdings in Briefing.com's Active Portfolio.DJ30 +60.97 NASDAQ +11.95 SP500 +5.33 NASDAQ Dec/Adv/Vol 1061/1685/825 mln NYSE Dec/Adv/Vol 1116/1871/679 mln

10:25 am : There hasn't been much follow through after the initial burst of buying interest. The hesitation could be owed to a sense of angst that, coupled with yesterday's rally, today's gains could invite some profit taking ahead of the weekend. There is still a lot of time left in the session, though, and with both the technology (+0.41%) and financial (+0.31%) sectors still outperforming at this juncture, the market isn't likely to roll over without a fight. Volume is running higher than average on account of today's quarterly options expiration.DJ30 +46.47 NASDAQ +11.06 SP500 +3.79 NASDAQ Dec/Adv/Vol 983/1671/654 mln NYSE Dec/Adv/Vol 1046/1815/537 mln

10:00 am : The Dow has extended its reach into record territory as investors have responded favorably to the November CPI report's unchanged reading. The latter was better than the 0.2% increase that was expected and it has served as a source of encouragement that the Fed is succeeding in keeping inflation under wraps. The dip in the year-over-year rate for core-CPI to 2.6% from 2.7% has also contributed to that belief. The Treasury market certainly liked what it saw as gains have been registered across the yield curve. The benchmark 10-year note is up 23 ticks and its yield has dropped 9 basis poiints to 4.51%. That move has been a boon for the homebuilders, which are among today's leadership groups.DJ30 +49.99 NASDAQ +15.21 SP500 +4.69 NASDAQ Dec/Adv/Vol 837/1644/478 mln NYSE Dec/Adv/Vol 748/1783/399 mln