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Dow +63pts!
10:17: Nasdaq Comp. hits 6-yr. high of 2,478.44 in intraday trade
Dow just crossed over the 12.5k mark! Shiok!
Dow up 57 points and Nasdaq up 17 points now!
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MARKET SNAPSHOT
U.S. stocks open higher amid earnings news
Tech enthusiasm overrides weakness in Apple after Cisco launches lawsuit
By Nick Godt & Leslie Wines, MarketWatch
Last Update: 10:08 AM ET Jan 11, 2007
NEW YORK (MarketWatch) - U.S. stocks opened higher on Thursday, as investors looked past took in news that Cisco Systems Inc. is suing Apple Inc. over use of the name iPhone to focus on the fourth-quarter earnings season.
The Dow Jones Industrial Average was up 28 points at 12,470, with 23 of its 30 components posting gains.
The S&P 500 was up 6 points to 1,420, while the Nasdaq Composite gained 15 points to 2,474.
Intel Corp. was the biggest gainer among blue-chips, advancing 2%.
Investors continued to show interest in the tech sector, where Apple sparked renewed enthusiasm on Tuesday with the launch of a new multimedia device, the iPhone.
However, Apple -- whose stock had surged 13% since the iPhone launch on Tuesday -- was falling back 1.3% after news that Cisco launched a lawsuit against the company. Cisco is alleging that it owns the rights to the name iPhone and says it has owned the trademark since 2000.
But the market received still found interest in other tech shares, which have been the favored destination of money leaving a fast-falling energy sector.
Investors are also hopeful that the fourth-quarter earnings season will provide a boost for the overall market, especially after better-than-expected earnings from Alcoa Inc. on Wednesday. Alcoa always kicks off the earnings season and its results tend to be viewed as an indicator of things to come.
"Alcoa's earnings ushered in a positive tone," said Marc Pado, chief U.S. market strategist at Cantor Fitzgerald.
"For the earnings season, expectations are for S&P 500 earnings growth of 10%." Pado said. "That growth rate is expected to drop to 8% in the first quarter. Companiess giving guidance will set the tone."
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Yes, Maxsyn! Dow aiming at 12.5k mark again, its up 40 points at 12,482. Nasdaq up 13 points now.
20 more pts.....back to 12500 pts again
Dow up 29 points and Nasdaq up 13 points now! The latter is stronger ....
Brrring .... US market open liao! Pleasant surprise: Dow up 14 points and Nasdaq up 6 points now.
U.S. stocks to open at slightly lower levels
Dollar, Treasurys react to a surprise Bank of England rate hike
By Leslie Wines, MarketWatch
Last Update: 9:11 AM ET Jan 11, 2007
cuurent correction was meanly trigger by fall in crude oil affecting oil energy related company.
China up bank reserve given an excuse for investors to take profit.
BOJ may up interest next month causing Nikkei sell down.
Primary market is still uptrend.
ok ok. Maybe i will just hope that US suddenly freezes over
flowergirl u so bad de...:-(
I hope the US market crashes cos I bought some put warrants on the DOW
water means money : )
.. heavy downpour @ Shenton Way now , hope it can nourish STI mkt tommorrow ;-)
European mkts all GREEN......good sign for DOW tonight.
But then again, yesterday it was red and DOW ended green.
Is green! Hope it can give a boost to Asia markets.
US market MIXED and recovering ..... Dow down 14 points and Nasdaq up 2 points now.
down further. below 12,400
US market opens RED .... Dow down 37 points and Nasdaq down 13 points now!