Reply #13: 10:42 and flyin' high - On a Friday? Must be a good weekend to be [View All]

[54anickel]

holding stocks.

Dow 10,619.33 +64.40 (+0.61%)
Nasdaq 2,141.14 +5.06 (+0.24%)
S&P 500 1,224.26 +5.24 (+0.43%)
10-yr Bond 42.33 +0.17 (+0.40%)
30-yr Bond 44.36 +0.09 (+0.20%)
NYSE Volume 437,022,000
Nasdaq Volume 374,936,000

10:30AM : The indices have extended their reach into positive territory, aided by the outperformance of the energy services (+1.30%), materials (+0.75%) and industrial (+0.65%) sectors... Buying activity, though modest, is relatively broad-based as evidenced by the comfortable lead advancing issues hold over declining issues at the NYSE and Nasdaq (which is the opposite of what was witnessed Thursday)... IBM (IBM 83.19, +2.04) sits atop the list of Dow winners, as it responds to the bullish backing provided for its stock by Prudential this morning...
Elsewhere, Autodesk (ADSK 40.69, +2.34) is getting its just reward for a strong earnings report and reassuring outlook; ADSK is leading the gains for the Nasdaq 100, which is up 0.2%... NYSE Adv/Dec 1738/1066, Nasdaq Adv/Dec 1467/1047

10:00AM : A positive, but somewhat sluggish start for the equity market as the indices move upward in guarded fashion... Sellers, though, have yet to make their presence felt to any great degree, with the exception of some individual situations like AutoZone (AZO 96.41, -1.88), which was downgraded to Underperform from Market Perform at Piper Jaffray, and Northwest Airlines (NWAC 5.39, -0.09), which is rumored to be headed for a bankruptcy filing in the event it can't win neccesary concessions from its mechanics union over the weekend....

Overall gains are modest, but at this juncture, all 10 economic sectors are in positive territory... Energy Services (+0.88%) leads the pack as it is benefitting from today's jump in crude prices...NYSE Adv/Dec 1421/1148, Nasdaq Adv/Dec 1135/1182