| Index | Last | Chg | % Chg |
| DJ Industrials | 12958.44 | 215 | 1.69% |
| Nasdaq Comp | 2580.8 | 39.81 | 1.57% |
| S&P 500 | 1428.23 | 21.01 | 1.49% |
| DJ Wilshire 5K | 14399.52 | 190.57 | 1.34% |
| Russell 2K | 743.27 | 8.2 | 1.12% |
| Nasdaq 100 | 2033.76 | 44.4 | 2.23% |
Comments: One day down, one day up.
| Issues | NYSE | Nasdaq | Amex |
| Advancing | 2,229 | 1,689 | 572 |
| Declining | 1,080 | 1,318 | 638 |
| Unchanged | 76 | 128 | 98 |
| Total | 3,385 | 3,135 | 1,308 |
| | | | |
| New 52 Week High | 23 | 16 | 13 |
| New 52 Week Low | 353 | 231 | 103 |
| | | | |
| Total Volume | 1,648,376,430 | 2,176,393,707 | 45,038,581 |
| Advancing Volume | 1,227,994,070 | 1,724,285,302 | 21,498,371 |
| Declining Volume | 404,042,960 | 432,138,294 | 21,642,110 |
| Unchanged Volume | 16,339,400 | 19,970,111 | 1,898,100 |
| Futures | Last | Change |
| Crude Oil | 93.87 | -0.55 |
| Natural Gas, Jan | 7.79 | -0.027 |
| Gold, Dec. | 807.5 | -6.5 |
From Briefing.com:
| Moving the Market |  | Sector Watch |
| Abu Dhabi Investment Authority is investing $7.5 billion for a 4.9% stake in Citigroup Crude drops on increased Saudi Arabian production, speculation that OPEC will increase output November Consumer Confidence declines | Strong: education services; specialty stores; health care facilities; real estate management & development; distillers & vintners; computer storage & peripherals; Internet retail; retail REITs; biotech; investment banks Weak: oil & gas refineries; homebuilding; oil & gas exploration; consumer electronics; oil & gas equipment; oil & gas drilling; integrated oil & gas |
There was another large swing in stock prices Tuesday, only this time they swung higher thanks to gains in the financial sector (+2.6%) that were forged on the back of news that Abu Dhabi Investment Authority is going to invest $7.5 billion for a 4.9% stake in Citigroup (C 30.32, +0.52). The Citigroup news, and word from Barclays (BCS 43.87, +3.49) that it expects to report 2007 earnings broadly in-line with expectations, got the market started on a positive note, yet the bullish bias was soon tested by a weaker than expected consumer confidence reading for November. Specifically, the Conference Board reported that its confidence reading dipped to 87.3 (consensus 91.0) from 95.2 in October. Stock prices retreated as the confidence number hit the wires, but they shook off the headline disappointment knowing that (a) the decline wasn't really that surprising given the negative headlines of late and (b) Thanksgiving sales reports exposed the weak link between confidence and actual spending activity. A noticeable dip in oil prices (-3.4% to $94.42), which was driven by talk of increased production from OPEC, provided a measure of support that helped prop up a number of beaten-down discretionary and transportation stocks. Homebuilding stocks, which showed strength earlier in the session after Pulte Homes (PHM 9.08, -0.08) reaffirmed its fourth quarter outlook, ended up as notable laggards again. A contention from fellow builder D.R. Horton (DHI 10.41, -0.17) that 2008 will be worse than 2007, and the S&P/Case-Shiller Home Price Index showing a 4.5% year-over-year decline, succeeded in undoing the early rebound effort. Overall, the market showed good resilience to selling activity that picked up again in the afternoon trade. Unlike Monday, it closed near its highs for the day thanks to late buying interest. The financial sector led the charge, but had plenty of company. Altogether there were seven sectors that registered gains in excess of 1.0%. The only sector to lose ground today was energy (-0.5%), which moved lower in conjunction with oil prices. In expected fashion, the stock market rally took some wind out of the Treasury market as some risk aversion trades came off. The 10-year note was down 27 ticks when stocks closed for the day, bringing its yield up to 3.94%. |
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