| Index | Last | Change | % Chg |
| DJ Industrials | 13806.7 | 134.78 | 0.99% |
| Nasdaq Comp | 2804.19 | 53.33 | 1.94% |
| S&P 500 | 1535.28 | 20.88 | 1.38% |
| DJ Wilshire 5K | 15518.12 | 207.24 | 1.35% |
| Russell 2000 | 821.39 | 15.28 | 1.90% |
| Nasdaq 100 | 2194.59 | 33.07 | 1.53% |
| Issues | NYSE | Nasdaq | Amex |
| Advancing | 2,425 | 1,973 | 821 |
| Declining | 845 | 1,006 | 397 |
| Unchanged | 102 | 119 | 93 |
| Total | 3,372 | 3,098 | 1,311 |
| New 52 Wk High | 256 | 121 | 75 |
| New 52 Wk Low | 60 | 113 | 16 |
| Total Vol | 1,402,343,980 | 2,552,616,518 | 38,160,375 |
| Advancing Vol | 1,156,096,640 | 1,738,462,353 | 26,970,440 |
| Declining Vol | 233,950,370 | 780,126,390 | 8,311,635 |
| Unchanged Vol | 12,296,970 | 34,027,775 | 2,878,300 |
| Futures | Last | Change |
| Crude Oil | 91.87 | 1.41 |
| Natural Gas, Dec | 7.761 | -0.055 |
| Gold, Dec. | 789.1 | 18.1 |
| WEEK CHANGE: | ||
| Index | 1 Wk % Chg | Prior Wk |
| DJ Industrials | 2.11% | -4.05% |
| Nasdaq Comp | 2.90% | -2.87% |
| S&P 500 | 2.31% | -3.92% |
| DJ Wilshire 5K | 2.26% | -3.89% |
| Russell 2000 | 2.83% | -5.04% |
| Nasdaq 100 | 2.98% | -2.15% |
| Crude Oil | 3.98% | |
| Natural Gas, Dec | 0.53% | |
| Gold, Dec. | 2.43% |
From Briefing.com:
| Moving the Market |  | Sector Watch |
| Microsoft has an outstanding earnings report; raises FY08 earnings guidance Countrywide misses Q3 earnings expectations, but issues positive Q4 profit guidance Oil tops $92 before backing off | Strong: systems software; coal & consumable fuel; thrifts & mortgages; investment banks & brokerages; diversified metals & minerals; real estate management & development; homebuilding; steel; gold; fertilizer & agriculture chemicals Weak: environmental and facilities services; education services; metal & glass cos; managed health; paper packaging |
| 16:25 ET | Dow +134.78 at 13806.70, Nasdaq +53.33 at 2804.19, S&P +20.88 at 1535.28 |
[BRIEFING.COM] If you are a market bull, you can't ask for anything more than to see the financial and technology sectors take leadership positions. When that is the case, the stock market has an excellent shot of trading higher considering the two sectors combined account for approximately 35% of the S&P's market capitalization. On Friday those two sectors led a broad-based advance that punctuated what was already shaping up to be a positive week. Credit for the market rally can be largely attributed to Microsoft (MSFT 35.03, +3.04) and Countrywide Financial (CFC 17.30, +4.23). The former company reported blowout earnings for its fiscal first quarter and provided full-year guidance that was ahead of the market's expectations. Countrywide, meanwhile, had a lousy third quarter report, but surprised the street with its pronouncement that it believes the third quarter marked an earnings trough and that it expects to be profitable in the fourth quarter. In a way, Countrywide stole Microsoft's thunder, but at the end of the day, it turned out that there was plenty of buying interest to go around. All 10 economic sectors ended the session with a gain and seven - financial (+2.5%), technology (+2.4%), materials (+1.7%), utilities (+1.5%), energy (+1.1%), telecom (+1.1%) and consumer discretionary (+1.0%) - scored gains of 1.0% or more. Microsoft led the way for the tech sector after posting a 27% jump in revenues, a 32% increase in operating income, and earnings of $0.45 per share that topped the consensus estimate by six cents. The software maker also raised its PC unit growth forecast to 10-12% from 9-11% and, in doing so, gave a wide swath of technology companies a boost. Countrywide for its part reported a loss of $2.85 per share, or $2.12 per share excluding an item, but it sent the shorts running for cover when it forecast a fourth quarter profit between $0.25 and $0.75 per share. The relatively upbeat assessment was far better than many had feared. In similar fashion to Microsoft, Countrywide's good news gave a wide swath of financial companies a much-needed boost. Separately, Merrill Lynch (MER 66.09, +5.19) was another standout in the financial sector as investors rallied around a New York Times article that said embattled CEO Stanley O'Neal allegedly approached Wachovia (WB 46.54, +1.45) to float the idea of a merger. The added kicker there is that the article alleged O'Neal did so without first getting approval from the firm's Board of Directors. That breach of protocol fostered speculation that O'Neal may soon lose his job. Time will tell what happens to O'Neal, but on Friday, the tale of the tape for the broader market was unmistakably bullish. The gains that were recorded left the S&P 500 just 1.9% shy of its all-time closing high. Friday's move was all the more remarkable considering it came with oil prices running to a record high of $92.22 per barrel. The price eventually settled at $91.86, but the weakening dollar and concerns about the growing tension between the U.S. and Iran kept most sellers sidelined. Conversely, the Treasury market did some backpedaling Friday as the stock market rally curtailed some flight-to-quality interest. The 10-year note shed just five ticks, though, as bond investors didn't go too far, cognizant that the FOMC meets in the coming week. Briefing.com sides with the market's expectation that there will be a 25 basis point cut in the fed funds rate. |
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