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http://finance.yahoo.com/marketupdate?u - 11/20/09 08:00:50 - 02/02/07 15:23:21
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10,289.22 43.22 (0.42%) 2,139.07 17.75 (0.82%) 1,088.24 6.66 (0.61%) 0.00 1,478,964,750 690,264,937.5
1,032 (29%) 899 (35%) 2,430 (68%) 1,540 (59%) 120 (3%) 162 (6%) 366 (28%) 108 (18%) 952 (72%) 476 (77%) 7 (1%) 35 (6%) 48 25 22 14 10:30 am : The stock market opened modestly lower and has recovered around half of its losses in morning trade. Meanwhile, the US Dollar Index is slightly pulling back off of this morning's high.
Crude oil traded in positive territory for half of the overnight session before beginning to trend lower. This morning, crude put in session lows of $76.20 per barrel and after attempting to rally off those lows twice, crude is trading back near its low at $76.38, down 1.4%
Natural gas tracked crude overnight and put in its own lows of $4.22 per MMBtu after falling a quick $0.10. However, natural gas reversed quickly and recovered all of its losses and recently moved back near the unchanged line and is down $0.011 at $4.331 per MMBtu.
Despite this morning's strength in the US Dollar Index, gold moved back into positive territory in recent trading and off lows of $1132.50 per ounce. However, that move was short-lived as gold is 0.2% lower at $1139.30 per ounce. Silver put in lows at $18.035 per ounce and remains in negative territory at $18.30, down 0.8%.
DJ30 -11.63 NASDAQ -14.40 SP500 -4.04 NASDAQ Adv/Vol/Dec 928/555.0 mln/1446 NYSE Adv/Vol/Dec 901/401.8 mln/1879
10:00 am : After attempting to pare opening losses and make a move toward the unchanged, stocks have fallen back under another fit of selling pressure. That has the S&P 500 and the Nasdaq at fresh morning lows. The Dow is also down, though to a lesser degree.
The Dow's ability to hold up stems from strength in shares of Merck (MRK 36.00, +0.67), which announced that one of its drugs has been recommended for approval by a committee under the European Medicines Agency.
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10,333.20 93.11 (0.89%) 2,157.98 35.16 (1.60%) 1,095.24 14.56 (1.31%) 3.349 0.017
4,208,766,500 1,845,161,625
671 (17%) 477 (17%) 3,097 (80%) 2,205 (79%) 92 (2%) 96 (3%) 597 (15%) 130 (7%) 3,350 (85%) 1,596 (92%) 13 (0%) 14 (1%) 71 30 39 24 3:30 pm : Widespread losses persist. However, the broader market is near the best levels of the afternoon. Energy is still the weakest sector this session, currently down 2.3%.
Commodities sold off with the rest of the market. Energy and soft commodities were slammed especially hard, down 1.4% and 1.5%, respectively.
Natural gas futures bucked the trend seen in the energy complex. Following a relatively in line inventory build, December natural gas futures moved into positive territory. They pulled back to the flat line before advancing once again and ended the session 2.1% higher at $4.34 per contract.
Crude oil futures sold off with the rest of the energy space. They closed down 2.6% at $77.50 per barrel.
All things considered, precious metals held up rather well this session. December gold and silver futures hit a session low at $1130.00 and $18.15 per ounce, respectively, in the mid-morning. However, both metals rose steadily for the rest of the session and managed to finish marginally higher. Gold futures closed up fractionally at $1141.90 per ounce and silver futures closed up fractionally at $18.46 per ounce.DJ30 -110.49 NASDAQ -38.38 SP500 -16.50 NASDAQ Adv/Vol/Dec 478/1.76 bln/2180 NYSE Adv/Vol/Dec 497/767 mln/2540
3:00 pm : Heading into the final hour of the session, stocks managed to pare their losses and to trade at afternoon highs. Losses remain considerable, though.
Still, a key question for many market watchers is whether buyers will step in and chase the move, squeezing it higher. If the move pops higher, then fails, many traders would regard it as a bearish signal.DJ30 -109.89 NASDAQ -38.21 SP500 -16.47 NASDAQ Adv/Vol/Dec 489/1.63 bln/2164 NYSE Adv/Vol/Dec 484/706 mln/2554
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10,426.31 11.11 (0.11%)
2,193.14 10.64 (0.48%)
1,109.80 0.52 (0.05%)
3.366 0.047 4,937,455,000 2,011,380,875
1,673 (43%) 1,052 (37%) 2,074 (53%) 1,645 (58%) 146 (4%) 134 (5%) 2,718 (423%) 841 (42%) 2,148 (334%) 1,138 (57%) 72 (11%) 32 (2%) 244 80 47 21 : Despite weakness in the U.S. dollar, stocks spent nearly the entire session mired in weakness. Losses remained contained, however.
Participants showed indifference to renewed selling against the greenback, which took the Dollar Index back toward the 52-week lows that it set earlier this week. It settled with a 0.4% loss.
Though the dollar spent the entire session in the red, the broader market struggled to shake free from its own spell of weakness. Large-cap tech issues were among the primary laggards; that caused the Nasdaq to trail the other headline indices.
Financials helped lead the broader market on a late charge back toward the neutral line, though. The sector had outperformed for the entire session and was able to finish with a 0.9% gain. Its strength was rooted in banking issues. As such, the KBW Banking Index advanced 1.4%.
Zimmer Holdings (ZMH 58.03, +1.28) helped the health care sector put together a solid 0.4% gain. Shares of the medical equipment and supplies company were upgraded by analysts at UBS.
Several consumer staples stocks ripped higher late in the session amid news from Daily Telegraph that Reckitt Benckiser is close to announcing a cross-border transaction that is suspected to involve a consumer staples play. The consumer staples sector settled flat, though.
Though the dollar's drop did little for stocks, it helped prop up precious metals prices. Gold futures hit another new all-time high of $1153.40 per ounce, but settled fractionally higher at $1141.20 per ounce.
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10,437.42 30.46 (0.29%)
2,203.78 0.00 (0.00%) 1,110.32 0.00 (0.00%) 3.319 0.00 4,480,420,500 1,924,507,750
1,704 (44%) 1,244 (44%) 2,028 (52%) 1,441 (51%) 154 (4%) 155 (5%) 2,338 (1260%) 1,071 (56%) 2,007 (1082%) 799 (41%) 136 (73%) 55 (3%) 255 123 50 22 4:25 pm : The major indices overcame broad losses to finish incrementally higher as the U.S. dollar handed back a portion of its gains this session. The greenback's pullback helped materials stocks offset weakness among retailers.
After falling to a fresh 52-week low in the previous session, the Dollar Index rebounded as much as 1% before easing back to a 0.5% gain. The greenback's bounce gave the equity market an excuse to take a breather after setting new 2009 highs in the previous session. However, stocks showed a willingness to push even higher as the dollar pared its gains; in turn, stocks trimmed their losses to find higher ground late in the session.
Materials stocks garnered particular support late. The sector settled with a 0.9% gain after being down nearly 1%. The sector's turnaround stemmed from a rebound in commodity prices, which took the CRB Commodity Index to a 0.2% gain, and news from a regulatory filing that showed George Soros added 1 million shares of Potash (POT 110.60, +6.42) to his existing stake.
Though the materials sector showed strength, it didn't hold much sway with the broader market; the sector represents a mere 3.6% of the S&P 500's overall market weight. Still, the advance by materials stocks helped mitigate weakness among retailers. Shares of retailers slid 1.4%, even though Home Depot (HD 26.99, -0.66), TJX Companies (TJX 38.91, -0.61), Saks (SKS 6.67, +0.26), and Pacific Sunwear (PSUN 3.88, -1.13) all bested earnings expectations. TJX even went on to raise its earnings outlook, while Home Depot delivered an upside forecast. Pacific Sunwear's outlook proved displeasing, though; that resulted in the stock's
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10,388.22 18.74 (0.18%) 2,191.86 5.99 (0.27%)
1,104.86 4.44 (0.40%)
3.329 0.002
1,889,164,500 811,165,437.5
1,150 (31%) 860 (32%) 2,464 (66%) 1,699 (63%) 106 (3%) 123 (5%) 619 (35%) 288 (38%) 1,152 (65%) 461 (61%) 9 (1%) 12 (2%) 149 76 39 13 06:21 am : S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -5.30.
06:21 am : Nikkei...9729.93...-61.30...-0.60%. Hang Seng...22914.15...-29.80...-0.10%.
06:21 am :
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10,406.96 136.49 (1.33%) 2,197.85 29.97 (1.38%)
1,109.30 15.82 (1.45%)
3.331 0.098
5,350,510,500 2,133,217,250
3,092 (79%) 2,100 (74%) 721 (18%) 653 (23%) 87 (2%) 92 (3%) 58 (6%) 1,674 (78%) 963 (91%) 443 (21%) 34 (3%) 17 (1%) 515 177 74 23 4:35 pm : Broad-based buying on the back of a weaker dollar drove the major indices to new highs for 2009. Strength in the broader market also helped stocks offset a late slip by financials so that the S&P 500 could settle above the 1100 mark for the first time in more than one year.
The U.S. dollar came under considerable pressure early. That helped perpetuate a positive tone among participants, who were already inspired by overseas gains in the wake of a renewed commitment by Asian officials to economic stimulus. With a 0.6% drop by the greenback against a basket of foreign currencies, the Dollar Index was left to trade near its 52-week lows.
Though the dollar's decline continues to support the broader market, energy and materials stocks benefited the most. The two sectors finished with respective gains of 2.5% and 2.3%.
In addition to broader market support, energy stocks and materials stocks were helped by higher commodity prices, which drove the CRB Commodity Index to a 2.8% gain. That was its best single-session percentage advance in more than one month. Crude oil prices were a primary underpinning of the move; contracts closed pit trade with oil priced 3.4% higher at $78.94 per barrel. Gold stood out for making its way to another new record high; this time it hit $1143.40 per ounce before it settled with a gain of 2.0% at $1139.20 per ounce.
Though a positive tone was present among both commodities and stocks for the entire session, the broader equity market pared a small part of their gains in the final hour of trade. The slip came as financials were knocked off of their perch by word from influential analyst Meredith Whitney during a CNBC interview that she expects banks to raise another round of capital. That
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0.00 (0.00%) 0.00 (0.00%) 0.00 3,914,211,250 1,904,830,750
2,216 (70%) 1,800 (64%) 823 (26%) 107 (3%) 134 (5%) 2,640 (67%) 1,413 (74%) 1,194 (31%) 79 (2%) 15 (1%) 152 33
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1,916,369,000 Weekly Recap - Week ending 13-Nov-09An early rally in equities this week helped the major averages regain more of their late-October declines. The rally was large-cap driven, as the Dow was the first index to reach a new 52-week high on Monday, followed by the Nasdaq 100 and S&P 500 on Wednesday. The larger composites trailed, particularly the Russell 2000, which only showed a modest gain on the week.
All ten sectors that make up the S&P 500 advanced. Materials (+4.2%) led the way, followed by IT (+3.3%) and Consumer Discretionary (+3.2%). Energy (+0.2%) trailed.
The biggest catalyst for equity markets remains the U.S. dollar.
The market achieved most of this week's gain on Monday, the same day the U.S. Dollar Index lost 1.1% and made a new 52-week low. It eventually touched 74.774 on Wednesday, it's lowest level since August of last year.
One reason for the currency's weakness on Monday was last weekend's G-20 meeting, where leaders pledged to keep aid flowing until the recovery was assured. The weakness helped the Commodity sector -- gold kept setting fresh 52-week highs this week, eventually touching $1,123.40 on Thursday. Banks stocks were also strong as the G-20 also opposed the utility of a tax on financial transactions as a way to dampen risky behavior.
The remainder of the week was slower, as third quarter earnings season has winded down and the economic calendar was very thin. But investors remained fixated on the dollar, and the major averages continued to move in an inverse manner to it.
There was another round of longer term Treasury auctions, selling $81 billion in 3-, 10- and 30-year Notes and Bonds. Demand remained strong for the most part,
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10,270.47 73.00 (0.72%) 2,167.88 18.86 (0.88%) 1,093.48 6.24 3.429 0.017
4,446,306,000 1,916,368,375
2,703 (70%) 1,799 (64%) 1,019 (26%) 893 (32%) 128 (3%) 135 (5%) 2,909 (1922%) 1,403 (73%) 1,461 (965%) 476 (25%) 76 (50%) 37 (2%) 186 58 56 41 4:30 pm : Stocks looked like they were going to surrender solid gains as support dwindled in afternoon trade, but as the S&P 500 approached the neutral line in the final hour buyers stepped back in to hand stocks a solid finish.
Renewed weakness in the U.S. dollar helped stocks overcome an early slip that followed a lower-than-expected preliminary consumer sentiment reading of 66.0 for November from the University of Michigan. Meanwhile, news of a deeper-than-expected trade deficit for September had little impact on stocks, even though the data will play a role in downward revisions to third quarter GDP calculations.
The dollar's decline remained the primary focus of market participants this session. Following two consecutive advances the greenback moved lower against a basket of major foreign currencies. That caused the Dollar Index to give up 0.6%. The dollar's drop came amid comments from World Bank President Zoellick that indicated the U.S. is limited in its ability to address the weak dollar, while representatives from China indicated that the country's currency would not gain against the dollar in the short term.
Amid the dollar's downturn, stocks were able to spend most of the session sporting broad-based gains, which helped the S&P 500 climb as high as 1.0%. Though the broader market surrendered some of its gains late in the session, stocks still finished firmly higher. That helped the S&P 500 finish with a weekly gain of 2.3%.