| Index | Last | Chg | % Chg |
| DJ Industrials | 13660.94 | 117.54 | 0.87% |
| Nasdaq Comp | 2825.18 | 30 | 1.07% |
| S&P 500 | 1520.27 | 18.1 | 1.20% |
| DJ Wilshire 5K | 15354.81 | 180.89 | 1.19% |
| Russell 2000 | 801.77 | 11.34 | 1.43% |
| Nasdaq 100 | 2223.97 | 23.49 | 1.07% |
| Issues | NYSE | Nasdaq | Amex |
| Advancing | 2,092 | 1,693 | 784 |
| Declining | 1,157 | 1,268 | 475 |
| Unchanged | 104 | 122 | 81 |
| Total | 3,353 | 3,083 | 1,340 |
| New 52 Week High | 150 | 96 | 67 |
| New 52 Wk Low | 211 | 290 | 58 |
| Total Volume | 1,499,850,290 | 2,545,353,941 | 41,273,433 |
| Advancing | 1,080,409,520 | 1,420,459,797 | 28,907,831 |
| Declining | 403,482,640 | 1,056,163,804 | 11,042,502 |
| Unchanged | 15,958,130 | 68,730,340 | 1,323,100 |
New lows exceed new highs...of concern.
| Futures | Last | Change |
| Crude Oil | 96.9 | 2.92 |
| Natural Gas | 7.925 | -0.074 |
| Gold, Dec. | 826.6 | 15.8 |
From Briefing.com:
| Moving the Market |  | Sector Watch |
| Financial sector rebounds Oil prices top $97 before settling at $96.70; energy and material stocks rally | Strong: agriculture products; construction materials; healthcare facilities; coal & consumable fuels; electronic communication & equipment; oil & gas refineries; gold; construction & engineering; thrifts & mortgages; oil drilling Weak: IT consulting & services; airlines; food retail; advertising |
Credit concerns were set aside on Tuesday as the stock market rallied in the face of rising oil prices, which rose 3.3% to $97.10 per barrel at their high for the session. Oil prices fell back some to end the trading session at $96.70. Their upward move was fueled by multiple factors, including anxiousness that the government's weekly inventory report on Wednesday will show another decline in crude stockpiles. A bombing in Yemen that shut down an oil pipeline, a forecast for inclement weather in the North Sea, and the Energy Information Administration boosting its full-year 2008 U.S. crude price forecast from $73.50 per barrel to $79.92 per barrel also played a part. In turn, continued weakness in the dollar index, which slipped 0.5% to $76.04, served as another buying catalyst for commodity traders. The weakness in the greenback, which sparked inflation chatter, remained a healthy prop for gold prices, which hit a 27-year high at $827.20 per ounce. Gold futures for December delivery settled up 1.6% at $823.40. With the jump in commodity prices, it was little surprise to see the energy (+2.7%) and materials (+2.5%) sectors score the largest percentage gains in Tuesday's trading. Airlines, meanwhile, were among the weakest performers as they were grounded by the spike in oil prices. The most influential mover of the day was the financial sector (+1.7%) as it garnered a bargain hunting bid with Goldman Sachs (GS 223.16, +4.77) again denying rumors that it is going to announce a write-down. Citigroup (C 35.08, -0.82) remained a conspicuous laggard as participants continued to show little interest in the stock, which is down 37% year-to-date. Conversely, there remained a good deal of interest in the large-cap technology issues with many of the usual suspects leading the buying brigade. Cisco (CSCO 34.08, +1.00) was a headliner in this respect as investors were feeling optimistic ahead of its earnings report on Wednesday. Other luminaries included Google (GOOG 741.79, +16.14), Apple (AAPL 191.79, +5.61), Intel (INTC 27.49, +0.65) and Oracle (ORCL 22.83, +0.76). The latter stock was added to the Americas Conviction Buy List at Goldman Sachs. In turn, Goldman Sachs removed Microsoft (MSFT 36.41, -0.32) from the same list, a move that contributed to its relative weakness. There weren't any economic reports today, yet the Treasury market got knocked back a bit by the stock market rally that saw the major indices close at their best levels of the session. |
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