Reply #52: lunchtime check-in with dizzy blather [View All]

[ozymandius]

12:06
Dow 11,188.96 -50.59 (-0.45%)
Nasdaq 2,351.86 -7.89 (-0.33%)
S&P 500 1,305.07 -6.49 (-0.49%)
10-Yr Bond 49.03 +0.64 (+1.32%)
NYSE Volume 1,019,824,000
Nasdaq Volume 990,095,000

11:30 am : The major averages have very slightly improved over the past half hour, but they remain comfortably below the flat line. Modest gains in the Technology (+0.1%) and Materials (+0.2%) sectors are lending a bit of support. With respect to the latter area, metal prices continue to surge, and that price action continues to drive buyers to related stocks. Nickel, up 5.5% on the day, is leading the pack. Gold, meanwhile, today hit $600 per troy ounce for the first time in 25 years. Aluminum, silver, and copper also continue to rise. Speaking of copper, Phelps Dodge (PD 88.51 +0.93), one of our stock picks, declared a special $2 per share dividend today. PD also raised its quarterly dividend to $0.20 per share from $0.1875. DJ30 +31.62 NASDAQ -2.24 SP500 -3.38 NASDAQ Dec/Adv/Vol 1625/1186/833.1 mln NYSE Dec/Adv/Vol 1804/1209/577.3 mln