Indices
S&P 500 1,268.25 +2.05%
DJIA 10,931.62 +1.97%
NASDAQ 2,263.01 +1.92%
Russell 2000 683.58 +2.46%
DJ Wilshire 5000 12,675.34 +2.09%
S&P Equity Long/Short Index 1,081.61 +1.37%
S&P Barra Growth 606.42 +1.84%
S&P Barra Value 657.45 +2.24%
Morgan Stanley Consumer 595.64 +.46%
Morgan Stanley Cyclical 776.42 +2.46%
Morgan Stanley Technology 536.06 +2.05%
Transports 4,179.14 +2.37%
Utilities 404.01 +1.63%
S&P 500 Cum A/D Line 8,423.00 +13.61%
Bloomberg Crude Oil % Bulls 34.0 -23.84%
Put/Call .89 +25.35%
NYSE Arms .89 +32.84%
Volatility(VIX) 10.88 -3.29%
ISE Sentiment 321.00 +76.37%
AAII % Bulls N/A
US Dollar 92.04 +.17%
CRB 314.67 +.47%
Futures Spot Prices
Crude Oil 58.71 +.53%
Unleaded Gasoline 145.76 -1.58%
Natural Gas 11.62 -5.76%
Heating Oil 168.92 -2.07%
Gold 492.90 +2.95%
Base Metals 144.16 +2.09%
Copper 185.35 -1.09%
10-year US Treasury Yield 4.42% -1.56%
Average 30-year Mortgage Rate 6.28% -1.26%
Leading Sectors
Oil Service +5.07%
Steel +4.35%
Computer Hardware +4.03%
Lagging Sectors
Computer Services -.77%
Software -1.27%
Airlines -3.79%
One-Week High-Volume Gainers
One-Week High-Volume Losers
*5-Day % Change
Friday, November 25, 2005
***Alert***
The exchanges close at 1 pm EST today. I will post the Weekly Scoreboard later in the afternoon.
Today's Headlines
Bloomberg:
- High-yield, high-risk debt may reward investors in 2006 with returns of 8%, or five times higher than this year, according to John Lonski, chief economist at Moody’s Investors Services.
- The US dollar is rising against the yen after Japan’s Finance Minister Tanigaki said mild deflation “still persists” in the world’s second-biggest economy and the central bank must cooperate with the government to end a seven-year bout of falling prices.
- Taser International said the Nasdaq Stock Market may stop trading its shares because the company has failed to file a quarterly report with the SEC.
- US Treasuries are rising on speculation the Fed may signal it is nearing the end of a series of interest-rate increases on signs inflation remains contained.
Wall Street Journal:
- Tribune’s Chicago Tribune and the Los Angeles Times newspapers may reduce the number of stocks and mutual-funds they list to cut costs.
- Louisiana’s levees may have sprung leaks in countless locations during Hurricane Katrina in addition to the three main breaches, citing engineers and a study by the National Science Foundation.
Chicago Tribune:
- DECT Corp., a Japanese investment group, plans to buy Chicago’s 181 West Madison tower for about $307 million.
SparkSpread:
- Lehman Brothers Holdings hired former Goldman Sachs Group and Amerada Hess oil trader in London as part of an effort to expand into European energy trading.
Detroit Free Press:
- GM CEO Wagoner said the automaker is selling more vehicles in other countries than in the US for the first time.
Business Week:
- Krispy Kreme Doughnuts is looking to build smaller 1,500- to 2,000-square-foot stores that are closer to the size of a traditional doughnut-chain shop, citing CEO Cooper.
- High-yield, high-risk debt may reward investors in 2006 with returns of 8%, or five times higher than this year, according to John Lonski, chief economist at Moody’s Investors Services.
- The US dollar is rising against the yen after Japan’s Finance Minister Tanigaki said mild deflation “still persists” in the world’s second-biggest economy and the central bank must cooperate with the government to end a seven-year bout of falling prices.
- Taser International said the Nasdaq Stock Market may stop trading its shares because the company has failed to file a quarterly report with the SEC.
- US Treasuries are rising on speculation the Fed may signal it is nearing the end of a series of interest-rate increases on signs inflation remains contained.
Wall Street Journal:
- Tribune’s Chicago Tribune and the Los Angeles Times newspapers may reduce the number of stocks and mutual-funds they list to cut costs.
- Louisiana’s levees may have sprung leaks in countless locations during Hurricane Katrina in addition to the three main breaches, citing engineers and a study by the National Science Foundation.
Chicago Tribune:
- DECT Corp., a Japanese investment group, plans to buy Chicago’s 181 West Madison tower for about $307 million.
SparkSpread:
- Lehman Brothers Holdings hired former Goldman Sachs Group and Amerada Hess oil trader in London as part of an effort to expand into European energy trading.
Detroit Free Press:
- GM CEO Wagoner said the automaker is selling more vehicles in other countries than in the US for the first time.
Business Week:
- Krispy Kreme Doughnuts is looking to build smaller 1,500- to 2,000-square-foot stores that are closer to the size of a traditional doughnut-chain shop, citing CEO Cooper.
Thursday, November 24, 2005
Friday Watch
Late-Night Headlines
Bloomberg:
- Canadian stocks rose to the highest in five years, led by dividend-paying companies such as Toronto-Dominion Bank and BCE Inc., after the government lowered taxes on the payouts and decided against taxing income trusts.
- Jordan’s King Abdullah II appointed a new prime minister and called on the government to undertake a war on terrorism in the wake of the hotel bombings Nov. 9 in the capital, Amman, that killed at least 57 people.
- Nokia Oyj said the company’s handset sales in the greater China region rose 77% in the first nine months compared with a year earlier on increasing demand.
Financial Times:
- The US newspaper industry is under threat as classified advertising moves onto the Internet and circulations continue to fall, citing News Corp. Chairman Rupert Murdoch.
Commercial Times:
- China Steel forecasts its first-quarter sales will fall by $90 million from the fourth quarter on declining product prices and the closure of one of its major plants for maintenance.
Late Buy/Sell Recommendations
Goldman Sachs:
- None of note
Night Trading
Asian Indices are -.25% to +.25% on average.
S&P 500 indicated -.13%.
NASDAQ 100 indicated -.15%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- None of note
Upcoming Splits
- None of note
Economic Releases
- None of note
Bloomberg:
- Canadian stocks rose to the highest in five years, led by dividend-paying companies such as Toronto-Dominion Bank and BCE Inc., after the government lowered taxes on the payouts and decided against taxing income trusts.
- Jordan’s King Abdullah II appointed a new prime minister and called on the government to undertake a war on terrorism in the wake of the hotel bombings Nov. 9 in the capital, Amman, that killed at least 57 people.
- Nokia Oyj said the company’s handset sales in the greater China region rose 77% in the first nine months compared with a year earlier on increasing demand.
Financial Times:
- The US newspaper industry is under threat as classified advertising moves onto the Internet and circulations continue to fall, citing News Corp. Chairman Rupert Murdoch.
Commercial Times:
- China Steel forecasts its first-quarter sales will fall by $90 million from the fourth quarter on declining product prices and the closure of one of its major plants for maintenance.
Late Buy/Sell Recommendations
Goldman Sachs:
- None of note
Night Trading
Asian Indices are -.25% to +.25% on average.
S&P 500 indicated -.13%.
NASDAQ 100 indicated -.15%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- None of note
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian indices are mixed as gains in Taiwan are offsetting losses in Japan. I expect US equities to trade mixed into the early close at 1 pm EST as short-covering offsets profit-taking. The Portfolio is 100% net long heading into the day.
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