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iPunter 06-Jan-2007 09:51
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hehe... my sifu "nextdoor" dozed off while watching the Dow...
Then when he woke up, his computer has shut down by itself!

Dow down 88pts...

But if you look at the 6-month chart for the Dow, it's really nothing to worry about, as the Dow's uptrend is still very much intact now.

nextdoor 06-Jan-2007 00:00
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-64 now!

nextdoor 05-Jan-2007 23:57
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Dow is down 55 pts! :-(

iPunter 05-Jan-2007 07:20
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It may be just the beginning...

maxsyn 05-Jan-2007 06:47
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Tech's turn to bull in '07?

iPunter 05-Jan-2007 06:35
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If Nasdaq's really the leader, the Techies's the way to go, man, go!

billywows 05-Jan-2007 05:31
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Wow! Nasdaq rallied to close up 30 points, while Dow closed up flat at 6 points .... Maybe its going to be a TECH rally year in 2007 after all?!

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MARKET SNAPSHOT

Stocks end higher as tech gains offset weak energy

Intel and techs jump, offsetting weak energy, lackluster retail sales

By Nick Godt & Tomi Kilgore, MarketWatch

Last Update: 4:13 PM ET Jan 4, 2007

NEW YORK (MarketWatch) -- U.S. stocks closed higher Thursday, after investors opted out of a fast-falling energy sector and put their money to work in technology, offsetting earlier disappointment over lackluster holiday sales from retailers.

Meanwhile, a continued sell-off in commodities, especially in copper and crude, signaled for some concerns about the economy. See full story.

Yet, investors pulling out of the energy sector chose to put their money to work into the tech sector.

"It looks like technology is going to be the leader of this market in the first quarter," said Art Hogan, market strategist at Jefferies & Co. "Even as energy is falling, money is going straight out of there and going into techs."

The Dow Jones Industrial Average closed up 6.17 points at 12,480.69, recovering from earlier losses that took the blue-chip barometer to a morning low of 12,403.

The S&P 500 rose 1.74 points to 1,418.34, while the technology-rich Nasdaq Composite rose 30.27 points to 2,453.43, reversing earlier losses of as much as 9.41 points.

Helping spark stocks' bounce was a sharp gain in semiconductor maker Intel, shares of which rallied 4.3% after Banc of America raised its earnings estimate for the fourth quarter and 2007.

"Nobody wants to get caught short in this market," said Michael Malone, trading analyst at Cowen & Co. "Any sell-off is going to be met with some buying activity because there's still a lot of liquidity out there."

Wal-Mart Stores rose 0.5 % after reporting same-store-sales that were in line with its latest forecast, laying out its growth target for January and affirming its quarterly profit outlook.

But the overall picture was grim for retailers over the holidays.

"There's definitely some disappointment over the retail results for December," Malone said.

Other Dow gainers included Merck, which gained 2.5%, and General Motors, which advanced 0.7%.

Dow decliners were led by Exxon Mobil, which fell 1.9% as oil prices continued sharply lower for a second day. McDonald's, Alcoa and AT&T were also notable losers.

Among tech gainers, Google Inc. rose 3.4%.

Declining issues and gainers were in roughly equal balance on the NYSE, while rising issues barely outpaced decliners by 17 to 13 on the Nasdaq stock market.

Volume was 1.729 billion shares on the Big Board and 2.146 billion shares on the Nasdaq.

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cashiertan 05-Jan-2007 04:00
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nasdaq rally is pulling the dow up. wonder what news in nasdaq to cauzse the rally?

cashiertan 05-Jan-2007 02:28
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i think dow is going to go for a mini correction before 1 last push upwards .. Dow hasnt been following the TA since November and the correction is long overdue. just like june correction the longer the delay, the sharper the dip..

ihatcoy 05-Jan-2007 00:04
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if oil price continues to slide; then to monitor plastic counter closely.
MEIBAN.FUYU, HI-P etc etc.

billywows 04-Jan-2007 23:55
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Recovering again! .... Dow down only 18 points and Nasdaq up 12 points now. Oil price below $57 liao.

billywows 04-Jan-2007 23:38
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What a see saw! Dow down 38 points and Nasdaq up 1 point now.

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MARKET SNAPSHOT

U.S. stocks lower amid weak retail sales

Sell off in commodities, energy shares also weighs on broad market

By Nick Godt, MarketWatch

Last Update: 10:22 AM ET Jan 4, 2007

NEW YORK (MarketWatch) -- U.S. stocks were lower in morning trade on Thursday, as weaker-than-expected retail sales during the key holiday season and dim forecasts from the likes of Gap Inc, Federated Department Stores Inc. and Limited Brands Inc. stirred concerns about the resilience of consumers in a slowing economy.

A sell-off in commodities, especially in crude oil and copper, was also weighing on the broad market.

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A sell-off in commodities, especially in crude oil and copper, was also weighing on the broad market.

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billywows 04-Jan-2007 23:12
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Wah .... ISM service data signaling growth whacks the market?! Dow down 58 points and Nasdaq down 8 points now!

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U.S. Dec. ISM services index dips to 57.1%, signaling growth

By Rex Nutting

Last Update: 10:05 AM ET Jan 4, 2007

WASHINGTON (MarketWatch) -- The nonmanufacturing sectors of the U.S. economy continued to expand at a brisk pace in December, the private Institute for Supply Management reported Thursday. The ISM nonmanufacturing index fell to 57.1% from 58.9% in November, close to expectations. Readings over 50% in the diffusion index indicate growth. The new orders index dropped to 54.4% from 57.1%. The prices paid index rose to 59.1% from 55.6%.

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billywows 04-Jan-2007 22:49
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Recovering ... Dow down 9 points and Nasdaq up 2 points now.

billywows 04-Jan-2007 22:39
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Opening bells! Dow down 25 points and Nasdaq down 5 points now. Relax ya ....

iPunter 04-Jan-2007 22:38
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Dow +0.88

billywows 04-Jan-2007 22:29
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Europe & Asia down today due to US market last nite. I think US market will chiong tonite after 'braking' last nite ..... :)

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MARKET SNAPSHOT

U.S. stocks to open lower amid weak retail sales

By Nick Godt, MarketWatch

Last Update: 9:06 AM ET Jan 4, 2007

NEW YORK (MarketWatch) -- U.S. stocks are expected to open lower on Thursday, as weaker-than-expected retail sales during the key holiday season and dim forecasts from the likes of Gap Inc, Federated Department Stores Inc. and Limited Brands Inc. stirred concerns about the resilience of consumers in a slowing economy.

Futures for the Dow Jones Industrial Average were down 5 points at 12,525, while those for the S&P 500 were down 1.60 point at 1,423. Nasdaq 100 futures were down 2.50 points at 1,776.

"There's definitely some disappointment over the retail results for December," said Michael Malone, trading analyst at Cowen & Co. "I wouldn't be surprised to see weakness in the market because of this."

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Futures for the Dow Jones Industrial Average were down 5 points at 12,525, while those for the S&P 500 were down 1.60 point at 1,423. Nasdaq 100 futures were down 2.50 points at 1,776.

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maxsyn 04-Jan-2007 21:58
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Weaken European markets may effect the sentiment.

billywows 04-Jan-2007 21:20
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Today's econ data to be out in US:

2130hrs: Jobless claims (in 10 mintues time)
2300hrs: Factory orders
2300hrs: ISM services
2330hrs: Energy Dept. oil stocks
0530hrs: Money supply (M2)

billywows 04-Jan-2007 07:27
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What a ride UP, and then FLAT! FOMC minutes the cause ....

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MARKET SNAPSHOT

U.S. stocks close mixed as Fed minutes derail rally

One Fed member sees slowing growth but overall tone lowers hope of rate cut

By Nick Godt

Last Update: 4:31 PM ET Jan 3, 2007

NEW YORK (MarketWatch) -- U.S. stocks closed mixed on Wednesday, after taking a tumble and drastically reversing a strong morning performance, as the minutes from the Federal Reserve's latest meeting on interest rates revived concerns about U.S. growth while giving little ammunition for those hoping for rate cuts.

The market had chalked up triple-digit gains earlier on the first trading session of 2007, with the Dow Jones Industrial Average stretching into fresh record territory.

But the Dow shed most of its gains to close up 11 points at 12,474, well below its all-time high of 12,580, hit in morning trade.

The S&P 500 fell 1 point to 1,416. The Nasdaq Composite, meanwhile, gained 7 points to close at 2,423.

A sharp drop in crude oil prices, which fell $2.73, or 4.5%, to close at $58.35 a barrel, weighed on energy shares and helped bring down the broad average.

"The Fed has indicated a slightly increase in downside risks, while we didn't get indications of when the Fed will cut rates," said Jeffrey Kleintop, chief investment strategist at PNC Advisors.

In the minutes of its Dec. 12 meeting, the Fed said its main concern remained inflation but several members indicated concerns about economic growth and a fast-falling housing market.

Only one member of the central bank's rate-setting committee thought that slowing economic growth might soon warrant the Fed to change its stance, which might open the door for possible rate cuts.

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The market had chalked up triple-digit gains earlier on the first trading session of 2007, with the Dow Jones Industrial Average stretching into fresh record territory.

But the Dow shed most of its gains to close up 11 points at 12,474, well below its all-time high of 12,580, hit in morning trade.

The S&P 500 fell 1 point to 1,416. The Nasdaq Composite, meanwhile, gained 7 points to close at 2,423.

A sharp drop in crude oil prices, which fell $2.73, or 4.5%, to close at $58.35 a barrel, weighed on energy shares and helped bring down the broad average.

"The Fed has indicated a slightly increase in downside risks, while we didn't get indications of when the Fed will cut rates," said Jeffrey Kleintop, chief investment strategist at PNC Advisors.

In the minutes of its Dec. 12 meeting, the Fed said its main concern remained inflation but several members indicated concerns about economic growth and a fast-falling housing market.

Only one member of the central bank's rate-setting committee thought that slowing economic growth might soon warrant the Fed to change its stance, which might open the door for possible rate cuts.

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