STOCK MARKET WATCH, Wednesday April 4

[ozymandius]

Source: DU

Wednesday April 4, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 656 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2291 DAYS
WHERE'S OSAMA BIN-LADEN? 1995 DAYS
DAYS SINCE ENRON COLLAPSE = 1955
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 9
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

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U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES

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AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON April 3, 2007

Dow... 12,510.30 +128.00 (+1.03%)
Nasdaq... 2,450.33 +28.07 (+1.16%)
S&P 500... 1,437.77 +13.22 (+0.93%)
Gold future... 669.70 -1.80 (-0.27%)
30-Year Bond 4.85% +0.01 (+0.21%)
10-Yr Bond... 4.66% +0.02 (+0.47%)






GOLD, EURO, YEN, Loonie and Silver

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PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

---

Read more: DU

[ozymandius]

1. Today's Market WrapUp

RATIO ANALYSIS
BY IKE IOSSIF

Ratio analysis allows us to identify extreme market conditions. Since most "turning points" occur when market conditions become extreme, ratio analysis can be rather useful in alerting us that a turning point may be near, and/or to confirm conclusions derived from employing other technical methodologies such as cycles analysis, price pattern analysis, etc. The ratios discussed in this article are some of the ones I look at on a regular basis.

-lotsa charts-

http://www.financialsense.com/Market/wrapup.htm

[ozymandius]

2. Today's Reports

10:00 AM Factory Orders Feb
Briefing Forecast 1.8%
Market Expects 1.9%
Prior -5.6%

10:00 AM ISM Services Mar
Briefing Forecast 55.0
Market Expects 54.7
Prior 54.3

10:30 AM Crude Inventories 03/30
Briefing Forecast NA
Market Expects NA
Prior -846K

http://biz.yahoo.com/c/e.html

[UpInArms]

15. 10:00 reports (disappointing results)

10. U.S. March ISM services below consensus 55.0%
10:02 AM ET, Apr 04, 2007 - 7 minutes ago

11. U.S. March ISM services 52.4% vs 54.3% in Feb.
10:02 AM ET, Apr 04, 2007 - 7 minutes ago

12. U.S. Feb. nondurable goods orders rise 0.2%
10:00 AM ET, Apr 04, 2007 - 9 minutes ago

13. U.S. Feb. durable goods orders rise 1.7%
10:00 AM ET, Apr 04, 2007 - 9 minutes ago

14. U.S. Feb. factory orders ex-transportation decline 0.4%
10:00 AM ET, Apr 04, 2007 - 9 minutes ago

15. U.S. Feb. factory orders rise 1.0% vs. 1.9% expected
10:00 AM ET, Apr 04, 2007 - 9 minutes ago

[ozymandius]

3. Oil prices fall in Asian trading

SINGAPORE - Oil prices fell in Asian trading Wednesday on guarded optimism that the standoff between Iran and Britain would be resolved diplomatically.

Light, sweet crude for May delivery declined 54 cents $64.10 a barrel in electronic trading on the New York Mercantile Exchange mid-afternoon in Singapore.

Britain on Tuesday called for direct talks with Iran to resolve a dispute over 15 captive marines and sailors after its first contact with the chief Iranian negotiator. The announcement followed the sudden release of an Iranian diplomat in Iraq that raised new hope for resolving the standoff.

-cut-

On Wednesday, Brent crude contract for May delivery fell 29 cents $67.52 a barrel on the ICE Futures exchange in London.

http://news.yahoo.com/s/ap/oil_prices

[ozymandius]

4. Big Three get March U.S. sales beating, Toyota cheers

DETROIT (Reuters) - General Motors Co. (NYSE:GM - news) and Ford Motor Co. (NYSE:F - news) posted lower March U.S. sales on Tuesday, dragged down by weak truck demand and expected cuts to car rental companies, while Asian rivals led by Toyota Motor Corp. continued to make inroads in the market.

General Motors sales fell 7.7 percent and Ford's were off by 12.4 percent, as its critical F-Series pickup truck sales dropped 15 percent.

Chrysler Group, the troubled U.S. unit of DaimlerChrysler AG (DCXGn.DE) (NYSE:DCX - news), also reported a fall of 8 percent in March, when adjusted for the number of sales days in comparable periods.

Toyota (7203.T), which is expected to overtake GM as the world's largest automaker as soon as this year, posted a 7.7-percent increase in March on the strength of its sedans, including the Prius hybrid car, and crossovers or car-based sports utility vehicles.

http://news.yahoo.com/s/nm/20070403/bs_nm/autos_sales_dc

[ozymandius]

5. DaimlerChrysler confirms Chrysler talks

BERLIN - DaimlerChrysler AG is confident a turnaround program at its Chrysler unit will return the beleaguered American brand to profitability, but Chairman Dieter Zetsche said Wednesday the automaker is in talks with unidentified potential buyers.

"As announced on Feb. 14, we are open to all options for future collaboration with Chrysler," he told some 9,000 shareholders crammed inside Berlin's exhibition center. "The statement is still true today."

-cut-

He did not disclose whether any decision to sell Chrysler had been made or if the company was any closer to a solution. Still, he did say a recovery plan that will cut 13,000 jobs in the U.S. and Canada was moving forward.

The Chrysler unit lost $1.5 billion in 2006.

http://news.yahoo.com/s/ap/20070404/ap_on_bi_ge/germany_daimlerchrysler_meeting

[Roland99]

13. That purchase never made sense to me.

Might have moved Chrysler up a bit in quality (they sure needed it). But, my last car was my last American make ('96 Sebring). Loving my '03 Mazda!

And if gas prices keep going up ($0.80 in the last 8 weeks), there's no way Ford/GM will keep up with the Japanese.

[ozymandius]

6. Fired Wal-Mart worker claims surveillance ops: report

NEW YORK (Reuters) - The Wal-Mart Stores Inc. (NYSE:WMT - news) worker fired last month for intercepting a reporter's phone calls says he was part of a larger, sophisticated surveillance operation that included snooping not only on employees, but also on critics, stockholders and the consulting firm McKinsey & Co., The Wall Street Journal reported.

As part of the surveillance, the retailer last year had a long-haired employee infiltrate an anti-Wal-Mart group to determine if it planned protests at the company's annual meeting, according to Bruce Gabbard, the fired security worker, the Journal said.

The company also deployed cutting-edge monitoring systems made by a supplier to the Defense Department that allowed it to capture and record the actions of anyone connected to its global computer network, the Journal said.

http://news.yahoo.com/s/nm/20070404/bs_nm/walmart_surveillance_dc

[ozymandius]

7. European stocks subdued amid weaker oil prices

LONDON (AFP) - Europe's major stock markets stablized on Wednesday as falling crude oil prices hit energy stocks, offsetting a bright performance overnight in New York and earlier in Tokyo.

In late morning European trade, London's FTSE 100 index of leading shares sagged 0.14 percent to 6,357.50 points, in Paris the CAC 40 eased 0.03 percent to 5,710.39 points, while Frankfurt's DAX 30 added 0.22 percent to 7,060.73.

http://news.yahoo.com/s/afp/20070404/bs_afp/stockseurope

[ozymandius]

8. Electrical stocks help Nikkei power ahead

Asian stock markets enjoyed strong gains Tuesday as investors took heart from a recent wave of global merger and acquisition activity.

Tokyo recouped virtually all of Monday's sharp decline, with the Nikkei 225 Average rising 215.64 points, or 1.3 per cent, to 17,244.05. The broader Topix index also gained 1.3 per cent, or 21.83 points, to 1,704.32. Gains were quite evenly spread across the board, with only five of 33 sub-indices losing ground. Export-focused sectors did well, in spite of ongoing global nervousness about the outlook for the US economy.

The electrical machinery sector gained 1.7 per cent, with precision machinery 2.2 per cent higher. Both sectors benefited from solid buying of blue-chip stocks by institutional investors making asset allocations at the beginning of the new fiscal year. Matsushita Electric Industrial (NYSE:MC - news), the world's biggest consumer electronics maker under the Panasonic brand, leapt 2.5 per cent to Y2,415, while Sony (NYSE:SNE - news), the consumer electronics and entertainment giant, rose 2.4 per cent to Y6,000. Nikon, the camera-maker, jumped 4.2 per cent to Y2,630.

http://news.yahoo.com/s/ft/20070403/bs_ft/fto040320071902560961

[ozymandius]

9. Good morning everyone.

:donut: :donut: :donut:

Life gets busy sometimes. So I am taking a moment to say 'bye' rather than just disappear from the thread. There is a slim chance that I will return by quittin' time.

Have a wonderful day at the Casino.

Ozy :hi:

[Roland99]

12. Have a good one, ozy! I'll be in all-day training, myself

:hi:

[Roland99]

34. Gold futures touch a 5-week high above $680

http://www.marketwatch.com/news/story/gold-futures-touch-5-week-high/story.aspx?guid=%7B4FA6BED6%2D91D0%2D44D2%2DB530%2D40BE6E43B300%7D

Gold futures climbed Wednesday to a five-week high above $680 an ounce, underpinned by weakness in the dollar, even as Iranian President Mahmoud Ahmadinejad said the captured British sailors would be freed, triggering a decline in crude-oil prices.

Gold for June delivery rose $9.20 at $678.90 an ounce on the New York Mercantile Exchange. It climbed to $681 earlier, its strongest intraday level since March 1.

...

The dollar fell against the euro and yen Wednesday after reports showed non-manufacturing sectors of the U.S. economy expanded at a slower pace in March while factory orders rose less than forecast in February. The weakness in the greenback helped fuel investment demand for gold.

[Nimrod2005]

10. Good morning OZ

Thanks again.

[AnneD]

25. Morning Marketeers.....

:donut: and lurkers. I've got to share a :rant: today.

It isn't mine but it's good. I stopped in the grocery store this am to get some ingredients for my famous banana pudding (disappears in 1 hour after I set it out). I walked past the automated check out and went to the human. "I refuse to use those things because I know it means someone loses a job." I said. "Well God bless you, because your right." She proceeded to tell me that her bank had an automatic in the bank that no one uses-and I mentioned something about the machines in Vegas and we laughed. Then she asked if I read about those poor folks at Circuit City in the Sunday Chronicle. She said that she would never shop there again and said that the CEO should be laid off and reapply for his job in 6 months at a lower salary. Her words were music to my ears. I guess some folks are beginning to wake up. This may backfire on Circuit City in a major way.

I hope, when presented with the choice, you chose to patronize a place that offer me human interaction. Technology is not bad, it is how we use it that determines this.

Happy hunting and watch out for the bears.

[Hugin]

28. Hiyas AnnD...

:hangover:

I always choose the human-in-the-loop. (Where applicable) :)

The high price society pays for a little convenience for an individual is too much.

Really.

[AnneD]

30. Just because you can...

doesn't mean you should. First rule of good decision making. ;)

[UpInArms]

11. dollar watch

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 83.09 Change -0.05 (-0.06%)

Greater Appetite for Risk Drives U.S. Dollar and U.S. Stocks Higher

http://www.dailyfx.com/story/dailyfx_reports/daily_fundamentals/Greater_Appetite_for_Risk_Drives_1175633943462.html

US Dollar - The combination of thin trading conditions, stronger economic data and subsiding tensions in the Middle East were enough to drive the dollar higher on what was otherwise a quiet trading day. After yesterday’s hawkish comments from Federal Reserve President Poole, traders came back into the markets looking for a reason to buy dollars. The Fed President made it clear that the economy would need to weaken far more significantly before he would be willing to support an interest rate cut, giving carry traders the green light to reinitiate their positions. Oil prices are also lower as signs of Iran’s willingness to find a diplomatic solution to the capture of the UK soldiers emerge. Iran’s Chief Nuclear Negotiator said earlier today that the two governments have already begun talks and if they “continue this path, they can change the situation logically…in such a way that the issue is resolved.” This has helped to fuel a greater appetite for risk as it eliminates the risk of another war being started in the oil rich Middle East. As for data, the only economic report released today was pending home sales. In contrast to the drop in new home sales, pending home sales actually increased by 0.7 percent, suggesting that the problems in the sub-prime sector have yet to spillover into the broader housing market. Looking ahead, there is enough important data tomorrow to challenge the market’s dollar bullish sentiment. This includes the service sector ISM report, ADP Employment survey and factory orders. The market’s focus will be on jobs. Yesterday’s manufacturing sector ISM report revealed a contraction in employment. If the service sector also sees slower employment growth, analysts may rush to revise their March non-farm payroll estimates. The forecast is currently calling for 133k jobs to have been added to the US economy last month. This is a lofty estimate that has more scope for downside than upside risk.

...more...

US Dollar, Equities And Treasury Markets Screen ISM Services For Action

http://www.dailyfx.com/story/dailyfx_reports/cross_markets_data_reaction/US_Dollar__Equities_And_Treasury_1175642971041.html

ADP Employment Change (MAR) (12:15GMT)

Expected: 135K
Previous: 57K

ISM Non-Manufacturing (MAR) (14:00GMT)

Expected: 55.0
Previous: 54.3

How Will The Markets React?

After two disappointing days of economic data, US market participants will now be turning their attention (and hopes for volatility) to Wednesday morning’s ISM non-manufacturing report. In its previous reading, the service-sector activity gauge slipped to its lowest level in nearly four years. Officially, the market will be working off of a consensus for a 55.0 print for the March number, versus the lowly 54.3 reading the month before. However, there are questions as to whether this cautiously bullish outlook aligns itself to the conditions for the month or if the indicator will even rouse a response for the market. For expectations, there are a number of concerns that have eroded the validity of the official forecast. From Monday’s disappointing manufacturing report, the employment and prices paid components could easily lead to similar results from the equivalent sub-gauges in the service survey. Furthermore, there are specific concerns for the non-manufacturing report related to demand and construction. Concerns were stoked two weeks ago when the housing permits data hit fresh lows. What’s more, the rise in sub-prime defaults and the critical media attention the lenient lenders received in early March could have further weighed on construction activity. More importantly, woes in the residential market may have leaked into other areas of the economy. Demand for goods and services last month likely suffered from the loss in home equity as well as rising energy prices and falling stock prices. The next question traders should ask is whether this indicator will even generate market movement. Typically, the ISM report facilitates little movement in treasuries and the dollar; and this will likely be the case tomorrow should the number print close to the market’s outlook. On the other hand, a big surprise (especially to the downside) may offer evidence the economy is weathering or folding under pressure from the manufacturing and housing sectors.

...more...

[citizen snips]

17. Euro Rises Against U.S. Dollar

BERLIN (AP) -- The 13-nation euro was up Wednesday against the dollar, eroding gains the U.S. currency made the previous day on better-than-expected U.S. housing data.

In afternoon European trading, the euro bought US$1.3358, up from US$1.3331 late Tuesday in New York. The dollar slipped to 118.78 Japanese yen from 118.88 yen, while the British pound fell to US$1.9726 from US$1.9746.

Traders were looking ahead to a report on U.S. factory orders later in the day for guidance.

Markets also were looking ahead to a U.S. jobs report Friday for indications on the economic outlook, but otherwise, the Good Friday holiday could lead the dollar to trade in a narrow range for the remainder of the week.

http://biz.yahoo.com/ap/070404/euro_dollar.html?.v=2

[UpInArms]

14. Fitch in fresh mortgage warning

http://news.yahoo.com/s/ft/20070403/bs_ft/fto040320071402580904

This year's crop of commercial property mortgages could face sharply higher defaults than in previous years amid pervasive loose lending practices and overconfidence in the sector, according to Fitch Ratings.

The warning echoes the turmoil in the risky US subprime home loan market, where lax underwriting and a sharp slowdown in the housing market have resulted in a steep increase in mortgage payment problems in recent months.

Unlike the residential market, commercial property values are still rising. But Fitch said the recent downturn in the market for subprime residential mortgages "should caution investors about the dangers of mixing aggressive underwriting with reliance on continued price appreciation".

<snip>

Fitch said properties were also increasingly financed with no money down or even with loans for more than 100 per cent of a property's value as owners borrowed greater amounts upfront to pay interest costs, betting that cash flows would improve quickly enough for the property to be self-sustaining.

"Real estate professionals are structuring loans today with the expectation that cash flow will continue to rise in a commercial real estate market that has already experienced dramatic upward trends," said Eric Rothfeld, senior director at Fitch.

...more...

[citizen snips]

16. Best Buy 4Q Profit Up, Circuit City Loss

MINNEAPOLIS (AP) -- Best Buy pulled further ahead of consumer electronics retail rival Circuit City on Wednesday, reporting an 18.5 percent rise in its fourth-quarter profit while Circuit City swung to a loss.

Best Buy Co. Inc., the nation's biggest consumer electronics chain, said it earned $763 million, or $1.55 per share, during the quarter that ended March 3, up from $644 million, or $1.29 per share, in the three months ended Feb. 25, 2006.

Revenue rose 21 percent to $12.9 billion from $10.69 billion a year ago, driven by store openings and a quarter that was a week longer than last year's.

Analysts surveyed by Thomson Financial were expecting earnings of $1.52 per share on revenue of $12.67 billion.

more...
http://biz.yahoo.com/ap/070404/earns_electronics_retailers.html?.v=6

[AnneD]

26. I'd look for Circuit City sales...

to drop like a rock. Of course, since they are screwing their employees the shares will go up until SURPRISE they go out of business.

[citizen snips]

46. Good Afternoon AnneD

I don't expect anything good from this stock it only has 3 S&P stars.

[AnneD]

54. Just the fact that they are replacing

good employees with new ones to save a few bucks tells me that the company is poorly managed. This was a PR disaster for them. :hi: Mattman, thanks for the sectors as always.

[citizen snips]

18. Oil Prices Slip, but Stay Above $64

NEW YORK (AP) -- Crude oil prices slipped Wednesday after Iran said it would release the 15 British sailors it's been holding captive, but hovered above $64 a barrel after the U.S. government reported a huge drop in gasoline stockpiles.

The standoff between Britain and Iran had raised worries in the energy market that the tensions could escalate into a larger conflict that would disrupt oil supplies exported from the Middle East. Iran is located along the Strait of Hormuz, a key channel through which many oil tankers pass. Those fears eased somewhat when Iranian president Mahmoud Ahmadinejad said the sailors, which the country said had entered Iranian waters, would be freed.

The fact that crude futures are back above $64 a barrel despite the news -- given that crude had surged about 7 percent since the sailors were taken hostage on March 23 -- is notable, said Mike Fitzpatrick, vice president for energy risk management at Fimat USA.

"There's a lot of inherent strength in the market," he said.

more...
http://biz.yahoo.com/ap/070404/oil_prices.html?.v=8

[citizen snips]

19. Harrah's Wins EU Approval for Buyout Bid

BRUSSELS, Belgium (AP) -- Harrah's Entertainment Inc., the world's largest casino company, won EU regulatory approval Wednesday to be bought by two private equity groups for US$17.1 billion (euro13 billion).

The European Commission said it automatically cleared the deal after receiving no complaints from rivals and identifying no antitrust problems within 25 working days.

The EU usually rules on combinations where companies have a joint global turnover of more than euro5 billion (US$6 billion).

Harrah's board backed the US$90-per-share buyout offer from Apollo Management Group and Texas Pacific Group in December and recommended shareholders approve the deal at an April 5 vote.

more...
http://biz.yahoo.com/ap/070404/eu_harrah_buyout.html?.v=1

[citizen snips]

20. Gasoline Stocks Fall More Than Expected

NEW YORK (AP) -- Shares of oil refiners rose Wednesday, after the federal government reported a sharper than expected drop in gasoline inventories last week.

In its weekly petroleum supply report, the Energy Information Administration said total motor gasoline stocks fell by 5 million barrels to 205.2 million barrels. Analysts expected a decline of just 1 million barrels, according to a survey by Dow Jones Newswires. Gasoline inventories are in the lower half of the average range, the EIA said.

Crude oil stocks, meanwhile, rose more than expected to 332.7 million barrels. The 4.3 million barrel increase beat analysts' expectations of a 1.7 million barrel rise.

Inventories of distillates, which include heating oil, were unchanged at 118 million barrels. Analysts had been looking for a decline of 700,000 barrels.

more...
http://biz.yahoo.com/ap/070404/oil_inventory_report.html?.v=1

[Roland99]

27. Record demand for gasoline is being labeled the culprit for lower supplies.

Anyone buy that?

[Hugin]

29. I wouldn't even borrow it...

:rofl:

[Roland99]

33. BWA HA!!

[citizen snips]

21. delete

[mojavekid]

22. The Mogombo Guru: Where is All of This Gold?

http://www.kitco.com/ind/Daughty/apr042007.html

Money must be getting tight, as Total Fed Credit was up only $1 billion last week, foreign central banks are cutting back on their gluttony (adding only $4 billion to their holdings at the Fed), and I am being forced to make the painful choice between paying for the kids' damned dental problems or getting that expensive new driver that is GUARANTEED to give me another 15 yards off the tee and cure my accursed fade-away slice problems forever, which will (in the final analysis) make me a whole lot happier, and last a hell of a lot longer, too, than anything that stupid dentist does ("See you again in six months, suckers!").

But it is not golf nor dentists that disturb my restless slumbers, but inflation that makes me wake up screaming in the night, trigger-finger spasming, my loud, irritating voice issuing both wails of fear and sulfurous curses to add to the incessant Mogambo Inflation Alert System (MIAS) buzzer, which indicates that monetary inflation is raging, raging, raging around the globe as all the central banks are busily, busily, busily creating money and credit at monstrously high rates of issuance, averaging (as I understand it) about 14% a year, and that means that inflation in prices will continue to get worse and worse, as will my aforementioned sleeping and trigger-finger problems.

And surely things are going to get heated up pretty soon, thanks to inflation, especially when the middle class starts whining, as Congress really comes alive then. And speaking of that, we have Ty Andross of TraderView.com newsletter reporting that "the broad middle class has not shared in the wealth of this expansion except for the bubblicious appreciation of their home values."

There's plenty more where this came from....! (at link)

[mojavekid]

23. The Daily Pfennig 4/4/07: Fundamentals Remain Weak...

http://www.kitcocasey.com/displayArticle.php?id=1316


Fundamentals Remain Weak...

Good day... Well, another day of little or no movement in the currencies yesterday was pretty boring to watch... But the thing to remember is that the dollar is still weaker overall, and nothing fundamentally has changed to reverse that position for the dollar... In fact, one could even argue the point that the fundamentals have gotten even worse, given the problems in the Housing Sector and the Fed's current pickle...

For instance, yesterday, I forgot to talk about the poor showing of the ISM Manufacturing Index that printed on Monday. The Index fell to 50.9 in March from February's figure of 52.3. For those of you new to class, this index uses a line in the sand at the 50 level that tells us whether the Manufacturing Sector is expanding or contracting... Any index number above 50 indicates expansion... Of course the opposite holds true for any index number below 50.

There are other things this report is used for... Take, for instance, the fact that the Fed has never raised rates when the index was below 50... And that a two-month figure of 45 or below indicates recession. So... This is a report that I follow closely, and I think that the index fell very close to the 50 level is an indication that the economic slowdown both Chris and I have been talking about is taking place.

more at link...

[mojavekid]

24. Energia gr: U.S Oil Companies Look to Invest in Riskier Regions

http://www.energia.gr/indexenbr.php?newsid=13758&lang=en

Major oil companies are looking to invest in increasingly risky corners of the world, as high oil prices and tightening access to oil reserves make these regions more attractive.

As oil prices have increased, resource-rich countries such as Venezuela and Russia have tightened their grip on oil and gas assets, shrinking the pool of available reserves for companies such as Exxon Mobil Corp., Chevron Corp., and ConocoPhillips.

The companies also have to contend with security problems in West Africa and in Iraq, which could soon attract investment.

"Oil is not always located in the most stable of environments," said Amy Myers Jaffe, an energy research fellow at the Baker Institute in Houston.

more at link...

[citizen snips]

31. Sector Snap: Electronics Retailers Down

NEW YORK (AP) -- Best Buy Co. posted a profit while Circuit City Stores Inc. had a loss in the fourth-quarter, but both electronics retailers' shares fell Wednesday, along with others in the sector.

Best Buy reported fourth-quarter profit rose 19 percent to $763 million, or $1.55 per share, while analysts polled by Thomson Financial expected net income of $1.52 per share. Revenue rose 21 percent to $12.9 billion, ahead of analyst expectations of $12.67 billion.

Best Buy also offered guidance for the current fiscal year of earnings between $3.10 to $3.25 per share on revenue of about $39 billion. Analysts were expecting earnings of $3.18 per share on revenue of $39.8 billion.

Circuit City, meanwhile, said it lost $12.2 million, or 7 cents per share, in the fourth quarter, due to charges related to store closings. Sales rose 1 percent to $3.93 billion, but fell short of analysts' $4.04 billion consensus estimate, according to a survey by Thomson Financial.

more...
http://biz.yahoo.com/ap/070404/sector_snap_electronics_retailers.html?.v=1

[citizen snips]

32. Monsanto Among Big Movers on Wall Street

NEW YORK (AP) -- Stocks that were moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Monsanto Co., up $1.85 at $57.85.

The world's largest seed company said demand for corn-based ethanol led to strong corn seed sales and boosted fiscal second-quarter profits by 23 percent.

Greenbrier Cos., down $3.72 at $23.

The company, which makes freight cars and provides services to railroads, swung to a loss in its fiscal second quarter amid lackluster demand.

more...
http://biz.yahoo.com/ap/070404/wall_street_stocks.html?.v=1

[citizen snips]

35. Bonds Linked to Subprime Loans Wane

NEW YORK (AP) -- Investors are growing increasingly skittish about bonds backed by subprime mortgages, which have fallen sharply in recent weeks on mounting concern about rising mortgage delinquency rates.

Investment banks including Lehman Brothers Holdings Inc., Morgan Stanley, Bear Stearns Cos., and Goldman Sachs Group Inc. package mortgages into bonds to sell on the debt market. Mortgage-backed securities had become among the nation's fastest growing businesses, and reaped big profit for Wall Street firms in the past few years.

But when people with shaky credit began to miss mortgage payments, it triggered concerns about the wider subprime market. Investors have punished not only punished shares of mortgage lenders, but sold off subprime mortgage-backed bonds.

About 13.3 percent of subprime loans were delinquent in the fourth quarter, according to Standard & Poors Corp. This has caused a number of lenders to go bankrupt, including New Century Financial Corp.'s Chapter 11 filing on Monday.

more...
http://biz.yahoo.com/ap/070404/market_spotlight_bonds.html?.v=1

[citizen snips]

36. Microsoft Shares Climb

NEW YORK (AP) -- Shares of Microsoft Corp. rose Tuesday after a Citigroup analyst said he is more confident in the company's ability to post an upside for its fiscal third quarter ended in March, thanks to the successful launches of the Vista operating system, Office 2007 and SharePoint server software.

In a Tuesday note to investors, Brent Thill raised his third-quarter estimates to 47 cents in earnings per share on $14.1 billion in revenue. He previously forecast income of 45 cents per share on revenue of $13.8 billion.

Microsoft previously offered profit guidance of 45 cents to 46 cents per share on sales of $13.7 billion to $14 billion. On average, analysts polled by Thomson Financial expect income of 46 cents per share on $13.9 million in revenue.

Microsoft's shares added 71 cents, or 2.6 percent, to $28.58 in afternoon trading on the Nasdaq Stock Market. In the past 52 weeks, the stock has traded between $21.45 and $31.48.

more...
http://biz.yahoo.com/ap/070404/microsoft_mover.html?.v=1

[citizen snips]

37. Sector Snap: Refiners Rise

NEW YORK (AP) -- Shares of several refiners rose Wednesday, after Banc of America Securities forecast continued strong margins and the federal government reported a sharper than expected drop in gasoline stocks last week.

Banc of America Securities analyst Philippe Lanier wrote in a research report that he expects refining margins for the industry to remain strong through 2008 amid sustained capacity constraints.

He also boosted his price target for Tesoro Corp. to $120 from $88, writing in a research report that investors should value its shares at the same multiple as its competitors. Tesoro stock suffered in recent years due to a perception of bad acquisition history, Lanier wrote.

Tesoro shares jumped $2.63, or 2.6 percent, to $105.23 on the New York Stock Exchange. Earlier in the session, they rose as high as $106.33, topping a prior 52-week high of $103 set Tuesday.

more...
http://biz.yahoo.com/ap/070404/refiners_sector_snap.html?.v=1

[citizen snips]

38. Sector Snap: Airline Stocks Mixed

NEW YORK (AP) -- Airline shares were mixed Wednesday, as a Prudential analyst suggested investors move funds out of regional airlines into certain big network carriers.

The Amex Airline Index was flat in midday trading, with six of its 11 component stocks declining.

Helping shares was a barrel of oil dropping 52 cents to $64.12 on the New York Mercantile Exchange, as jet fuel is one of an airline's top costs.

Prudential Equity Group analyst Bob McAdoo wrote in a research report that the regional airline industry, which flies on contract for the major carriers, is unlikely to see meaningful profit growth. Major airlines are adding fewer regional jets to their fleets, and regional carriers seem to be bidding more aggressively against each other to win new business, McAdoo wrote.

more...
http://biz.yahoo.com/ap/070404/airlines_sector_snap.html?.v=1

[citizen snips]

39. Sector Snap: Automotive Stocks

NEW YORK (AP) -- Shares of companies related to the automotive industry traded mixed on Wednesday after Prudential Equities Group started coverage of the sector with a "Favorable" overall rating, but viewed U.S. automakers with less enthusiasm.

Shares of General Motors Corp. lost 12 cents at $31.35 in midday trading, while Ford Motor Co. added 6 cents at $8.15, DaimlerChrysler Corp. gave up 75 cents at $82.20. All the stocks trade on the New York Stock Exchange.

U.S. automakers, including the Chrysler Group arm of DaimlerChrysler, are in the midst of massive turnaround efforts. Challenges mounted for domestic automakers last year as consumers turned away from their bread-and-butter pickup and sport-utility vehicles to more economical and fuel efficient offerings from Japanese car companies.

Mark B. Warnsman at Prudential started GM and Ford at "Unfavorable," or "Sell," citing their troubles in the changing market

more...
http://biz.yahoo.com/ap/070404/automotive_sector_snap.html?.v=1

[citizen snips]

40. Service Industries Expand at Slower Rate

WASHINGTON (AP) -- The U.S. service sector expanded at a slower rate in March than in the previous month, a trade group said Thursday, coming in below economists' expectations and adding to concerns that U.S. economic growth is slowing.

The Tempe, Arizona-based Institute for Supply Management, an organization of corporate purchasing executives, said that its index of business activity in the non-manufacturing sector registered 52.4 in March, down from 54.3 in February. Wall Street was expecting a reading of 54.7.

The index is at its lowest level since April 2003, said David Resler, chief economist at Nomura Securities.

Separately, new factory orders grew by a slower-than-expected 1 percent in February, a Commerce Department report showed. Weakness in demand for construction machinery, primary metals including steel, and electrical equipment tempered gains elsewhere including cars and other transportation equipment, computers, chemical products and clothing.

more...
http://biz.yahoo.com/ap/070404/economy_services.html?.v=5

[citizen snips]

41. Sector Snap: Staffing Shares Tumble

NEW YORK (AP) -- Shares of several staffing companies declined Wednesday after Monster Worldwide Inc., which runs job Web site Monster.com, warned that first-quarter sales would miss prior expectations.

In afternoon trading on the Nasdaq Stock Market, Monster shares tumbled $6.38, or 13.2 percent, to $42.11. The stock has ranged from $34.75 to $59.99 over the past year.

Monster projected quarterly revenue between $328 million and $329 million, versus a prior forecast of $330 million to $338 million. The company cited weakness in both its North America careers and Internet advertising and fees units.

Also weighing on staffing stocks were Goldman Sachs downgrades on Labor Ready Inc. and Heidrick & Struggles Inc.

more...
http://biz.yahoo.com/ap/070404/staffing_sector_snap.html?.v=1

[citizen snips]

42. Pier 1 Shares Rise Ahead of Earnings

NEW YORK (AP) -- Shares of Pier 1 Imports Inc. rose Wednesday, a week before the struggling home-accessories retailer reports fourth-quarter results, as investors prepare to hear from the company's new chief executive.

Shares of the company, which has been struggling with falling sales in stores open at least one year, have been rising steadily since March 29, when Pier 1 said it would cut 175 jobs.

The stock has risen 6 percent since its close on March 29, and gained another 12 cents on Wednesday, reaching $7.28 during afternoon trading on the New York Stock Exchange. The stock traded between $5.61 and $13.25 during the past year.

Pier 1, which operates about 1,160 stores, has tried to help same-store sales, or sales in stores that have been open at least one year, with bargain pricing, contemporary furniture and more marketing, but nothing has worked so far.

more...
http://biz.yahoo.com/ap/070404/pier_1_mover.html?.v=1

[citizen snips]

43. DreamWorks Animation Falls on Downgrade

NEW YORK (AP) -- Shares of DreamWorks Animation SKG Inc. declined Wednesday after a Sanders Morris Harris analyst cut a rating on the computer-animated film maker, saying expectations are running high for the film's third "Shrek" flick.

Shares shed $1.34, or 4.3 percent, to $30.06 in afternoon trading on the New York Stock Exchange. The stock has traded $20.05 and $31.58 and is up about 16 percent in the same period.

The company's "Shrek 2," which stars the lovable green creature of the same name and his friends, is the third-highest grossing film of all time, based on domestic box office figures.

The film generated $441.2 million in 2004, behind 1977's "Star Wars" and 1997's Titantic, according to industry tracker Exhibitor Relations Co.

more...
http://biz.yahoo.com/ap/070404/dreamworks_animation_mover.html?.v=1

[AnneD]

51. SKG have more good ideas in their trash can

than Sanders Morris Harris will ever have on their power points. I'd work with SMH or Lucas in a minute if I had any talent. Say , that give me an idea. Maybe I can pitch them a movie......

[citizen snips]

44. Treasuries Rise Most in Three Weeks on Employment, Service Data

April 4 (Bloomberg) -- Treasury 10-year notes rose the most in more than three weeks after industry reports on employment growth and service industries were weaker than forecast.

The data bolstered the view that a housing slump is spilling over into other parts of the economy, two days before the Labor Department's employment report for March. Interest-rate futures priced in higher odds the Federal Reserve will lower the overnight lending rate this year.

``Some people are setting up for a downside surprise in payrolls,'' said Carl Lantz, an interest-rate strategist at Credit Suisse in New York, referring to the Labor Department report. The firm is one of the 21 primary U.S. government securities dealers that trade with the Fed.

The benchmark 10-year note's yield fell more than 2 basis points, or 0.02 percentage point, to 4.64 percent at 1:38 p.m. in New York, according to bond broker Cantor Fitzgerald LP, its biggest decline since March 13. Yields move inversely to prices.

more...
http://www.bloomberg.com/apps/news?pid=20601009&sid=aY7y_s32bdHA&refer=bond

[citizen snips]

45. Copper Rises for Sixth Session on Signs of Mining Constraints

April 4 (Bloomberg) -- Copper prices in New York gained for the sixth session in a row, the longest rally since September, on signals that mine development will lag behind demand from China and other countries with surging economies.

The price of the metal, used in wires and pipes, has jumped 40 percent since early February amid falling global inventories and higher Chinese imports. New mines probably won't make up for any shortfall, said Richard Adkerson, chief executive officer of Freeport-McMorRan Copper & Gold Inc., the world's biggest publicly traded copper producer.

``The most striking thing about the industry is how limited new development opportunities are,'' Adkerson said in a presentation broadcast on the Internet. ``You don't have a situation where the industry is developing world-class types of mines.''

Copper futures for May delivery gained 7.3 cents, or 2.2 percent, to $3.33875 a pound on the Comex division of the New York Mercantile Exchange, the highest since Oct. 27. Prices have gained 11 percent in six sessions.

more...
http://www.bloomberg.com/apps/news?pid=20601012&sid=adcUleHMNj9M&refer=commodities

[loudsue]

47. It's almost 4:00 ! Do we have any NUMBERS??

Are we up or down?

:kick::kick::kick:

[Nimrod2005]

48. Let me check the Internets for you...

We are up...

[ozymandius]

49. Just got back into town. Lo! And Behold!

4:09
Dow 12,530.05 Up 19.75 (0.16%)
Nasdaq 2,458.69 Up 8.36 (0.34%)
S&P 500 1,439.37 Up 1.60 (0.11%)
10-Yr Bond 4.652% Down 0.012
NYSE Volume 2,570,766,000
Nasdaq Volume 1,709,347,000

some settling may occur...

[ozymandius]

53. closing blather

4:20 pm : The major averages held onto modest gains Wednesday as a diplomatic resolution in the Middle East and some upbeat analyst commentary provided the bulls with just enough impetus to look past more evidence of slowing economic growth.

With the Dow, S&P 500 and Nasdaq up 1.0% on average a day earlier, it wasn't surprising to see investors begin to question such sizable gains amid a lack of overwhelming news behind such a surprise rally.

However, with a nearly 6% risk premium put into oil futures last week amid growing geopolitical tensions, Iranian President Ahmadinejad announcing the release of 15 British sailors pushed oil prices to session lows and improved overall sentiment. Crude for May delivery was down as much as 1.7% and below $64/bbl; but it closed well off its lows since the geopolitical crisis involving Iran's capture of 15 Britons merely became less of a crisis as Iran continues to defy UN demands to halt its uranium enrichment program.

As evidenced by the Nasdaq outpacing its blue-chip counterparts to the upside and logging its fifth consecutive gain, Technology was the day's best performer. Microsoft (MSFT 28.50 +0.63), which is also the Nasdaq's most influential constituent and third most heavily-weighted stock on the S&P 500, was the driving force behind all three indices.

The day's best performing Dow component soared 2.3% after a Citigroup analyst raised his Q3 earnings and revenue estimates due to demand for Microsoft's Windows Vista. An analyst upgrade on Semiconductor Equipment (+1.7%), the day's seventh best performing S&P industry group, provided additional sector support.

Health Care and Consumer Staples were other bright spots today due in part to their defensive characteristics; but their modest gains struggled to offset the lack of follow-through from the likes of Financials and Industrials. REITs were among the day's biggest disappointments but Industrials was home to the day's worst performing S&P industry group. Human Resources plunged 9.5% after Monster Worldwide (MNST 42.10 -6.41) cut its Q1 revenue guidance.

Telecom and Utilities were the day's biggest laggards, but that's understandable since both are among this year's three best-performing sectors.

Separately, ISM Services unexpectedly fell in March to 52.4 in March, the lowest reading since April 2003, while the employment component slumped to just above growth at 50.8. The bears also pointed to a smaller than expected rise in February factory orders, which further underscores the weak pace for 2007 manufacturing activity, as another reason to question whether or not yesterday's surprise rally was a bit overdone. BTK +0.6% DJ30 +19.75 DJTA -0.2% DJUA -0.4% DOT -0.2% NASDAQ +8.36 NQ100 +0.3% R2K -0.1% SOX +0.9% SP400 +0.1% SP500 +1.60 XOI +0.6% NASDAQ Dec/Adv/Vol 1631/1356/1.68 bln NYSE Dec/Adv/Vol 1528/1730/1.26 bln

[loudsue]

55. Kewl!

Thanks! :hi:

[citizen snips]

50. Soybeans Fall, Grains Rise

CHICAGO (AP) -- Grain futures increased while soybeans declined Wednesday on the Chicago Board of Trade.

Wheat for May delivery rose 12 1/4 cents to $4.31 1/4 a bushel; May corn rose 13 cents to $3.59 1/4 a bushel; May oats rose 3 cents to $2.76 a bushel; May soybeans fell 2 3/4 cents to $7.61 a bushel.

Beef futures finished mixed while pork decreased on the Chicago Mercantile Exchange.

June live cattle rose .55 cent to 95.55 cents a pound; May feeder cattle fell .02 cent to $1.1150 a pound; May lean hogs fell .10 cent to 75.32 cents a pound; May pork bellies fell 1.45 cent to 99.88 cents a pound.

more...
http://biz.yahoo.com/ap/070404/board_of_trade.html?.v=4

[citizen snips]

52. DJIA Leaders & Laggards: MSFT, HD, GM

NEW YORK (AP) -- Shares of software maker Microsoft Corp. recorded the largest gain Wednesday on the Dow Jones industrial average, helping to push the index higher.

The 30-stock index rose 19.75 to finish at 12,530.05.

Citigroup analyst Brent Thill said launches of Windows Vista, Microsoft Office and SharePoint have built Microsoft's momentum. Shares rose 63 cents, or 2.3 percent, to finish at $28.50 on the Nasdaq Stock Market.

Home Depot Inc. shares rose for the second straight day, adding 48 cents to end at $38.11 on the New York Stock Exchange.

more...
http://biz.yahoo.com/ap/070404/djia_laggards_close.html?.v=1

[citizen snips]

56. Nasdaq 100 Leaders & Laggards: VRTX MNST

NEW YORK (AP) -- The Nasdaq 100 climbed Wednesday, boosted by a rise in shares of Vertex Pharmaceuticals Inc.

The Nasdaq 100, which includes 100 of the largest nonfinancial securities traded on the Nasdaq Stock Market, rose 5.43 points to end at 1,801.74. The Nasdaq Composite added 8.36 points to close at 2,458.69.

Vertex gained 96 cents, or 3.3 percent, to close at $29.85, it's third straight session of gains. The Cambridge, Mass., drug maker is slated to present results for a study of its experimental hepatitis drug on April 14.

Fellow pharmaceutical company Sepracor Inc. gained $1.48, or 3.1 percent, to close at $48.79.

more...
http://biz.yahoo.com/ap/070404/nasdaq_100_laggards.html?.v=1

[citizen snips]

57. S&P 500 Leaders & Laggards: CNX, MNST

NEW YORK (AP) -- Coal company Consol Energy Inc. helped lift the S&P 500 Wednesday amid a strike at several Foundation Coal Holdings Inc. mines and news that Arch Coal Inc. wants to make some acquisitions.

Pittsburgh-based Consol added $2.93, or 7.5 percent, to end at $42.26 on the New York Stock Exchange, while Peabody Energy Corp. also climbed, gaining $2.05, or 5 percent, to $42.79 on the Big Board.

While about 1,200 miners went on strike at three Foundation Coal mines in Pennsylvania and Illinois on Wednesday, Arch Coal said it is looking for acquisitions this year. The two news items combined to lift the entire coal sector.

The S&P index closed up 1.60, to 1439.37.

more...
http://biz.yahoo.com/ap/070404/s_p_500_laggards.html?.v=1