Reply #115: 3:09 EST numbers and blather (air seeping out) [View All]

[UpInArms]

Dow 10,711.02 +22.25 (+0.21%)
Nasdaq 2,263.72 +15.25 (+0.68%)
S&P 500 1,267.40 +3.58 (+0.28%)
10-Yr Bond 4.392 +0.35 (+0.80%)

NYSE Volume 2,066,798,000
Nasdaq Volume 1,714,222,000

3:00 pm : Stocks still trade in positive territory but recent oil-induced momentum seems to have stalled renewed buying interest. Even though crude oil, heating oil and gasoline futures fell 1.5%, 1.2% and 2.8%, respectively, the closing of the commodity's market leaves investors with few catalysts to extend recent gains. Not to mention, the pullback across the energy complex has in turn sent Energy (-0.4%) back below the flat line, removing leadership from this year's best performing sector. DJ30 +25.29 NASDAQ +15.38 SP500 +3.69 NASDAQ Dec/Adv/Vol 1038/1928/1.53 bln NYSE Dec/Adv/Vol 1040/2207/1.43 bln

2:30 pm : Major averages spike to session highs, getting a boost from further deterioration in oil prices. Within the last 30 minutes, crude futures have plunged 1.5% to their worst levels of the day, nearly falling below $67/bbl, ahead of expected inventory builds. With high oil prices as a key inflation concern for 2006, given the commodity's effect on the duration of Fed policy tightening, oil's pullback has eased some of the market's early hesitation to push stocks even higher. DJ30 +45.70 NASDAQ +19.50 SP500 +5.98 NASDAQ Dec/Adv/Vol 1005/1940/1.55 bln NYSE Dec/Adv/Vol 969/2265/1.32 bln