Reply #34: 11:46 pre-lunch break check

[54anickel]

Dow 10,493.56 +32.00 (+0.31%)
Nasdaq 2,031.32 +11.37 (+0.56%)
S&P 500 1,171.57 +3.16 (+0.27%)
10-yr Bond 4.191% +0.002
30-yr Bond 4.668% -0.007
NYSE Volume 636,277,000
Nasdaq Volume 869,223,000

11:30AM : Modest profit taking halves gains on the Dow despite solid results from another component... Altria (MO 61.75 -0.54) has recently posted Q4 results, beating analysts' expectations by $0.02 with EPS of $1.08, despite a 4.2% year-over-year decline in operating earnings, and issued in line FY05 guidance... The tobacco giant, along with 27 other components, had found early support at higher levels, but recent consolidation after the Dow's biggest rally in five weeks, has invited some selling pressure...NYSE Adv/Dec 2084/958, Nasdaq Adv/Dec 1739/1057
11:00AM : The broader market averages show their resilience following a mixed weekly oil inventories report... Weekly crude supplies have risen by 3.4 mln barrels(consensus +1.0 mln) while distillate stockpiles have fallen by 2.3 mln barrels (consensus -1.8 mln)... Crude oil prices, which initially spiked 1.2% in reaction to the data, have since reversed course, falling below $49/bbl before rebounding to trade at $49.35/bbl (-$0.29)...

The commodity had been inching closer and closer to $50/bbl, amid continued supply concerns and uncertainty over OPEC's forthcoming output decision - a level that, if breached, could arguably weigh on an improving market sentiment...NYSE Adv/Dec 1987/955, Nasdaq Adv/Dec 1695/1031

10:30AM : Stocks hold steady at higher levels as buyers remain in control of the action... Blue chips on the rise include Dow component SBC Communications (SBC 24.54 +0.09), which beat expectations by a penny despite a 17% decline in quarterly profits, and Eli Lilly (LLY 56.66 +1.81), which beat forecasts by a penny, earning $0.75 a share on strong sales of its prescription drugs...

Shares of ConocoPhillips (COP 90.20 +1.30) have also surged after it more than doubled profits due to high oil and gas prices while General Dynamics (GD 100.36 +1.59) has climbed after growing Q4 earnings 20.4%, beating estimates by $0.03...NYSE Adv/Dec 2090/778, Nasdaq Adv/Dec 1756/879