You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #33: Closing blather - Oh happy days are here again! [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-11-04 05:49 PM
Response to Reply #32
33. Closing blather - Oh happy days are here again!
Close: Stocks began the day trading higher, with Yasser Arafat's death sparking renewed optimism that peace can be restored in the Middle East... That in turn pressured speculators to surrender positions in December crude oil futures throughout the session, with oil falling towards $46/bbl after lunch before closing down almost 3% at $47.50/bbl... Sectors taking advantage early on were airlines and other transportation-related sectors, while energy gave up gains made a day earlier...
Cheaper oil, however, was only one factor playing into the market's slow climb higher - a sense that investors would miss out on a year-end rally prompted more buying interest and short covering throughout the day... The fact that the indices made their way through a series of resistance levels, without succumbing to selling interest, only reinforced the idea that the market was poised for further gains... Technology was the leader of the rally, as every sub-sector from semiconductor to disk drive took part in an advance that pushed the Nasdaq through levels not seen since late June...

Contributing to the tech rally was news of a new CEO at Intel (INTC 23.17 +0.31), a Merrill Lynch upgrade on Advance Micro Devices (AMD 18.59 +1.30), and growing confidence that Dell (DELL 37.25 +0.40) would again report strong quarterly results (the company reported EPS of $0.33, in line with analysts' expectations)... Such strength in these areas was enough to offset weakness in software makers Oracle (ORCL 13.14 -0.24) and PeopleSoft (PSFT 22.43 -0.36) following news PeopleSoft's management rejected Oracle's final offer price... Areas in the blue chips that exhibited relative weakness included beverage, in response to Coca-Cola's (KO 40.92 -0.25) warning that it was slashing long-term sales and profit targets...NYSE Adv/Dec 2414/885, Nasdaq Adv/Dec 2041/1063

Printer Friendly | Permalink |  | Top
  -STOCK MARKET WATCH, Thursday 11 November ozymandius  Nov-11-04 07:12 AM   #0 
  - WrapUp by Mike Hartman - GLOBAL CURRENCIES OUT OF BALANCE  ozymandius   Nov-11-04 07:35 AM   #1 
  - Parsing What the Fed Left Out  ozymandius   Nov-11-04 07:39 AM   #2 
  - Raising Red Flags About Productivity  ozymandius   Nov-11-04 07:41 AM   #3 
     - Hahahaha! The Productivity Miracle. Love this last part -  54anickel   Nov-11-04 08:42 AM   #10 
  - Economists Predict Another Rate Increase (new)  ozymandius   Nov-11-04 07:43 AM   #4 
  - Another 25 Basis Points, How Many Left?  54anickel   Nov-11-04 09:07 AM   #13 
     - Analysis: When Fed Says Jump, Investors Ask 'How High?'  UpInArms   Nov-11-04 09:36 AM   #15 
        - Hmm, so how much of it is a "bluff"? This week's articles alone make the  54anickel   Nov-11-04 10:44 AM   #23 
  - daily dollar watch  UpInArms   Nov-11-04 07:47 AM   #5 
  - G7 considers coordinated forex intervention: Italy  54anickel   Nov-11-04 07:59 AM   #7 
     - Euro pressured by ECB intervention talk  UpInArms   Nov-11-04 11:49 AM   #27 
  - Ozy, that toon! Brings tears to my eyes - and not from laughing. So  54anickel   Nov-11-04 07:54 AM   #6 
  - Initial claims were released yesterday morning.  ozymandius   Nov-11-04 08:35 AM   #9 
     - I think many of those "citizens" have been conned into the idea of  54anickel   Nov-11-04 08:57 AM   #12 
  - pre-opening blather  UpInArms   Nov-11-04 08:19 AM   #8 
  - opening numbers and blather  ozymandius   Nov-11-04 08:48 AM   #11 
  - Australian Jobless Rate Falls to Lowest in 26 Years  54anickel   Nov-11-04 09:33 AM   #14 
  - China Predicts 9.3 Percent Economic Growth  54anickel   Nov-11-04 09:36 AM   #16 
  - 54anickel, have you noticed  UpInArms   Nov-11-04 09:39 AM   #17 
  - Yeah, could it have something to do with the holiday? I read on their  54anickel   Nov-11-04 10:20 AM   #21 
  - Tiffany shares dive with 26% drop in profit  UpInArms   Nov-11-04 09:51 AM   #18 
  - 11:10am numbers and yadda  ozymandius   Nov-11-04 10:12 AM   #19 
  - In short, we are screwed (Mogambo)  54anickel   Nov-11-04 10:15 AM   #20 
  - Inflation Worriers, Dollar Pessimists (Kudlow, for a laugh)  54anickel   Nov-11-04 11:25 AM   #25 
     - OMG! this freak of nature must be on the propaganda payroll!  UpInArms   Nov-11-04 11:32 AM   #26 
  - Bush Policy: Talk a Strong Dollar But Let It Slide  54anickel   Nov-11-04 10:33 AM   #22 
  - 12:12 update  54anickel   Nov-11-04 11:15 AM   #24 
  - Bush bounce real (Bush winning)  NewYorkerfromMass   Nov-11-04 12:27 PM   #28 
  - What a bunch of puke-inducing propaganda.....  llmart   Nov-11-04 01:16 PM   #31 
  - 2:04 update - then I've gotta run for the day  54anickel   Nov-11-04 01:06 PM   #29 
  - Mortgage Rates Up on Economic Signs  UpInArms   Nov-11-04 01:07 PM   #30 
  - closing numbers  UpInArms   Nov-11-04 03:10 PM   #32 
     - Closing blather - Oh happy days are here again!  54anickel   Nov-11-04 05:49 PM   #33 
        - Whoops, forgot the buck, drifted down all day long. Currently at it's low  54anickel   Nov-11-04 05:52 PM   #34 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC