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Dow

   Dow up 26 and Nasdaq up 6.5 on opening.

 

Yup, this has been a listless week for STI ....

 

Excellent... hopefully it would give a boost to the STI which has been aimless the past few days.

 

Yessss!!! A US rally tonite ..... S.H.I.O.K!!!



Jobless rate is lowest in 5 years

U.S. stock futures turn broadly higher

Jobs data shows labor market firm; Qualcomm dips; Whole Foods tumbles

By Steve Goldstein & Tomi Kilgore, MarketWatch

Last Update: 8:45 AM ET Nov 3, 2006

LONDON (MarketWatch) -- U.S. stock market futures shook away early caution to turn broadly higher Friday as investors viewed the October jobs report as an assurance that the labor market was on firm footing, after a string of disappointing economic data this week.

S&P 500 futures rose 3.00 points at 1,374.30 and Nasdaq 100 futures were up 4.00 points at 1,720.50. Dow industrial futures advanced 24 points at 12,060.

U.S. stocks closed with tepid losses on Thursday, with the Dow industrials losing 12 points and the S&P 500 and Nasdaq Composite down a fraction of a point. A pick-up in wage inflation and a rise in jobless claims led to the fifth loss in a row for the Dow blue chips.

Nonfarm payrolls expanded by 92,000 in October the Labor Department said, below the average economist estimate compiled by MarketWatch of 123,000. But jobs growth in August and September was revised higher by 139,000.

The unemployment rate fell to 4.4%, the lowest rate seen since April 2001, and below expectations that it would remain unchanged at 4.6%.

Average hourly earnings increased 0.4% vs. economist forecasts of a 0.3% rise.

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S&P 500 futures rose 3.00 points at 1,374.30 and Nasdaq 100 futures were up 4.00 points at 1,720.50. Dow industrial futures advanced 24 points at 12,060.

U.S. stocks closed with tepid losses on Thursday, with the Dow industrials losing 12 points and the S&P 500 and Nasdaq Composite down a fraction of a point. A pick-up in wage inflation and a rise in jobless claims led to the fifth loss in a row for the Dow blue chips.

Nonfarm payrolls expanded by 92,000 in October the Labor Department said, below the average economist estimate compiled by MarketWatch of 123,000. But jobs growth in August and September was revised higher by 139,000.

The unemployment rate fell to 4.4%, the lowest rate seen since April 2001, and below expectations that it would remain unchanged at 4.6%.

Average hourly earnings increased 0.4% vs. economist forecasts of a 0.3% rise.

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if weak data continue to pour in but the congress election coming, may hold above 12000 till then, let see what happen then...

 

Yalor, US market closed reddish FLAT last nite. Dow down 13 points to 12,018.54, while Nasdaq down 1 point to 2,334.02 .... This is Dow's 5th consecutive loss in a row, but it still managed to stay aflot 12k mark!

We all have our opinions on the market, Cashiertan .... No right or wrong - so long everyone in SJ trade responsibily with their own money to account to their happiness and families. :)

 

closed flat despite Labor Department said productivity was flat in the third quarter while wages rose nearly 4 percent. The data touched off concerns that the Federal Reserve will continue to wrestle with inflation, possibly raising interest rates again.

Generally still looks good.

 

just reread postings for this thread till 20 oct 2006 . i realised that i am the only one posting bearish comments since than and may have "offended" some optimistic forumers.

hope those "optimistic" forumer dun mind, and i hope some bros here, like me, benefitted from my bearish comments. : )

 

todays slide should be till 11980.

hope this correction ends just in time for the much awaited year end rally.

 

however do take note that DOW can correct till 11400 and still consider as a "reasonable" correction.

 

there is a strong support around 12000 (20 days sma) however if that is broken, which also means 15day sma is broken convincely (signs of bear), the next real strong support will be after a massive slide till 11800.

 

Dow heading up now above 12k mark after a see-saw session earlier. Its down 14 points, while Nasdaq is flat.

Think US market will close FLAT today.

       

      DOW                         NASDAQ

 

another bad news. The productivity of American workers slowed to a standstill in the summer, while wages were rising at the fastest clip in more than two decades -- a combination likely to raise inflation concerns at the Federal Reserve.

The Labor Department reported Thursday that productivity, the amount of output per hour of work, showed no change in the July-September quarter, while labor costs rose by 3.8 percent. For the past year, wages and other labor costs are up by 5.3 percent, the fastest increase since 1982.

 

Still sinking.......is bearish, any bad news will drive invester further to clear their positions. So Nov06 indeed a month to stay clear

 

WASHINGTON (MarketWatch) -- Orders for transportation equipment boosted factory demand in September, the Commerce Department reported Thursday, but factory orders excluding transportation fell for the second consecutive month.

U.S. factory orders rose 2.1% in September, lower than expected. Taking out transportation orders, however, factory orders fell by 2.4% in September. Nondurable goods orders, however, rose by 4.6% in September.  

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below 12000 soon, unlikely t hold it anymore tonite.

 

NEW YORK (MarketWatch) - U.S. stock futures are indicating a lower open Thursday after an economic report raised concern about wage inflation, with a weak November sales outlook from Wal-Mart Stores Inc. and a broker downgrade of Intel Corp. further undermining sentiment.

 

Most like flat tonite. A preliminary read on Q3 productivity just came in unchanged (consensus 1.1%), as unit labor costs rose 3.8% (consensus 3.5%) following an upwardly revised 5.4% gain in Q2, potentially signaling some wage-inflation worries. Bonds, which were off slightly ahead of the report, have inched even lower, as the 10-yr note is now down 7 ticks to yield 4.59%. Initial claims rose 18K to 327K (consensus 310K); however, the claims data have not had as much of an impact on trading as the productivity data since investors will now turn their focus to tomorrow's more influential employment report.

 

NEW YORK (MarketWatch) -- U.S. stocks fell Wednesday, sending the Dow Jones Industrial Average to its fourth consecutive loss, after investors absorbed disappointing factory and housing data, although strong earnings from MasterCard and Burger King minimized the gloom.

The Dow Jones Industrial Average fell 49.71 points to 12,031.02, as components Alcoa Inc. dropped 1.5%, and United Technologies gave up 2.2%. Exxon Mobil Corp. also weighed on the blue-chip index, dropping 0.5% in line with the decline in the price of oil.

The Nasdaq Composite Index lost 1.4% of its value, falling 32.36 points to 2,334.35 while the S&P 500 Index dropped 10.13 points to 1,367.81.

"What we had today was a combination of a plain old correction after the recent rally and some concerns about the bad economic numbers we had had," said Paul Nolte, director of investments at Hinsdale Associates.

"There are concerns about the implications that these economics numbers might have for other sectors of the economy," he said. "If the housing sector is this weak, we may see more job losses in the non-farm payroll numbers."

"Overall the data has been mixed to uncertain at best. Investors can glean both good news and bad news," said Jay Suskind, director of trading at Ryan Beck & Co. "But it's because the messages are mixed that the Fed will continue to remain on the sidelines."

November traditionally kicks off the best six-month period for the stock market. The Dow Jones Industrial Average has ended higher 22 out of the last 27 times on the first trading day of November, according to the Stock Trader's Almanac.

On the broader market for equities, decliners led advancers by 21 to 11 on the New York Stock Exchange, and by 22 to 7 on the Nasdaq.

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ISM fell to 51.2, expectation was 53, will be another disappointed day for DOW tonite.