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Reply #43: 1:09 EST numbers and blather (WHEE!) [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-25-04 12:11 PM
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43. 1:09 EST numbers and blather (WHEE!)
Dow 10,161.30 +62.67 (+0.62%)
Nasdaq 1,853.99 +17.10 (+0.93%)
S&P 500 1,102.33 +6.14 (+0.56%)
10-Yr Bond 4.256% -0.027

1:00PM: Stocks extend their reach into positive territory, benefiting from the encouraging turn in nearly every sector... With the exception of airline and homebuilding, every major industry group has made its way into the green and helped the market in its buying drive... Financial, health care, energy, and tech are all boasting moderate gains and serving to keep the market at new weekly highs... The fact that crude oil has stabilized around its lows has also contributed to the positive tone...NYSE Adv/Dec 2024/1150, Nasdaq Adv/Dec 1643/1229

12:30PM: The market approaches its best levels of the day as crude oil - its source of direction for many months - moves to its lows... Crude oil has dropped $0.56 to $44.65/bbl and neared its lowest prices in nearly 2 weeks... This marks the fourth day of losses for the commodity and has been a welcome relief considering its ascent last week - when it nearly hit $50/bbl... It remains to be see how much lower it can move with supply constrictions pressing (Mideast, Russia, and Venezuela), but the fall has been encouraging and supported the indices' recent uptick...

Up volume is now leading down volume by a healthy margin at the NYSE and Nasdaq...NYSE Adv/Dec 1801/1324, Nasdaq Adv/Dec 1524/1327

12:00PM: A fairly uneventful morning for the equity market, as the indices have hugged the unchanged mark in a session that has provided few true buying - or selling - catalysts... The morning's largest news item - the simultaneous crash of two Russian planes - has been undeniably negative, but the Federal Security Service has reported no signs of terrorist acts...
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