01/09/06:
The Latest January Effect-- Dow 11,000
SUSIE GHARIB: The Dow finally did it, closing above 11,000
for the first time since June of 2001. The blue chip average rose 52
points to 11,011, but that`s still more than 700 points below its all-time
high set six years ago. The NASDAQ gained 13 points to its highest level
in nearly five years.
GHARIB: Our guest tonight is
bullish for 2006 and expects the major market averages to increase by
double digits. His forecast calls for the Dow closing out the year at
12,360 and the S&P 500 at 1425. Joining us now, Vince Farrell, managing
director of Scotsman Capital. Hi Vince, happy new year to you.
VINCENT FARRELL, MANAGING DIRECTOR, SCOTSMAN CAPITAL MANAGEMENT: Hi.
Thank you, Susie.
GHARIB: I just want to get your gauge of what was the significance of
this move by the Dow? How important was it?
FARRELL: Not important except it comes early in January and as goes
early January, so goes the month and so goes the year. So it`s very nice
we continue the pattern of up market days. 11,000 is not significant but
it`s just nice we had another strong day to really put a terrific start to
the year under our belt.
GHARIB: And what about this psychological impact that many people talk
about? Does this influence the way individual investors will decide whether
or not to invest in the markets?
FARRELL: I don`t think so. I think it maybe influences more the very
short-term trader that might try to play off the psychology. But if you`re
thinking it and I`m thinking it and they`re thinking it, it probably
negates itself. I think, though, a continued strong trend in the market
might encourage individual investors in that the real estate boom has kind
of faded a bit to give perhaps the stock market a safe place to put your
feet back in.
GHARIB: So what is driving this positive momentum that we`ve had the
last couple of sessions? Is it small cap stocks? Is it large cap stocks? Is
it a particular sector?
FARRELL: What`s driving it I think going back a couple weeks ago is
the minutes from the Fed where they very clearly indicated they`re close
the end of raising interest rates. And then what really started to move
the market at that point were tech stocks. The thought is the concern
would be a little bit slower this year than they have been because if
interest rates are up, the equity cash out of your home might be less
advantageous. So capital spending is going to pick up. If capital spending
picks up, the best area to spend your money to grow your business is in
technology because that`s where the productivity enhancements can be had.
So tech stocks recently have led this market and there`s still -- many of
them are still reasonably priced. So I think it`s a sound underpinning for
the market rally we`ve had.
GHARIB: So give us your best recommendations for 2006, your top three
recommendations.
FARRELL: Well, remember we typically are going to own about 25 stocks
but I pick in the tech area, I`ll give you three: Microsoft, Cisco, Intel.
We like all three. They are massive free generators of cash flow,
reasonable valuations. We like that energy patch, especially BP. They`re
going to be buying back about $18 billion worth of stock this year and pay
a very healthy dividend beside. We also like some of the higher dividend
paying financial stocks. Citigroup and Bank of America for example, both
pay very generous dividends, are trading at a very low multiple compared to
where they usually trade.
GHARIB: Do you own these stocks personally Vince?
FARRELL: I own them personally and own them for clients, yes.
GHARIB: OK. Everybody right now is feeling very positive and upbeat
because of this Dow 11,000. But is there anything out there that gives you
pause, any risks out there that you worry about?
FARRELL: Oh, absolutely. Our targets for the end of the year are for
a gain of about 10 percent. We`re looking for low double digit gains.
What could upset that very easily is one, if the Fed raises interest rates
a lot higher than you would have thought. I don`t think that`s a real
risk. I think the bigger risks are that the consumer retrenches very
dramatically, which is not in the cards as far as we can see, but the
economy doesn`t slow. The economy stumbles and then earnings gains are
going to be very hard to come by. The second really big risk is that the
price of oil were to go up, up, up. We`ve been able to accommodate $60 to
$70 oil. The economy`s grown quite nicely. But suppose there`s a
disruption or suppose there`s something that puts the price of oil to $100
a barrel. That would take the wind out of the sails and really change our
market outlook. So the two things, the consumer slows down very
dramatically and/or the price of oil goes up a whole lot.
GHARIB: OK. Vince, thank you very much. We really appreciate your
thoughts as always.
FARRELL: Good to be with you; Susie.
GHARIB: We`ve been speaking with Vince Farrell, managing director of
Scotsman Capital.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright
(c) 2005 Community Television Foundation of South Florida,
Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06: Alcoa's 4th Quarter Is Tarnished
SUSIE GHARIB: The euphoria on Wall Street was dampened by a disappointing
earnings report from Dow component Alcoa after the closing bell. Excluding
one-time items, Alcoa earned $0.35 a share in the fourth quarter, $0.02
below estimates. Sales rose 12 percent to $6.67 billion, but also slightly
below expectations. The world`s biggest aluminum producer blamed the lower
earnings on hurricanes, strikes and restructuring costs. Alcoa stock fell
as much as 4 percent in after hours trading. Those Alcoa results
officially kick off the earnings season for the fourth quarter. Corporate
profits are expected to show another quarter of strong growth. Erika
Miller has details.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Wall Street is
expecting a strong finish to a strong year for corporate earnings. Using
analysts estimates, Thomson Financial predicts fourth quarter earnings for
Standard & Poor`s 500 firms will be up more than 13 percent. That would
mark 10 straight quarters of double digit earnings growth. Much of that
strong showing is expected to come from energy companies.
EDWARD KEON, CHIEF INVESTMENT STRATEGIST, PRUDENTIAL EQUITY GROUP:
Energy is going to be by far the strongest. Growth will be over 40
percent. Clearly the very high prices for energy have propelled tremendous
earnings out of the energy companies. That will be clearly the leader in
earnings growth.
MILLER: Without energy, Thomson Financial says the S&P 500`s profit
gain would be closer to 9 percent. Only one sector is expected to post a
decline in profits for the fourth quarter. Basic materials, which includes
steel and paper, is predicted to be down 2 percent. Already analysts are
beginning to worry about the outlook for profits in 2006. Currently Wall
Street analysts are expecting a continuation of double digit earnings
growth in all four quarters of the year.
KEON: What`s really interesting is that, yes, we`re going to expect
to see throughout `06 the double digit earnings growth trend continuing or
at least that`s what the Wall Street analysts are telling us right now. If
that happens, that will be 14 consecutive quarters of earnings growth.
That will be the longest streak in the last 50 years.
MILLER: But some analysts think those estimates are way too
optimistic.
MICHAEL THOMPSON, DIRECTOR OF RESEARCH, THOMSON FINANCIAL: We`ll
slowly see earnings go to a glide path -- more like in the 6 to 8 percent
range for the year as a whole. Although that`s about equal to the long-
term historical average, we`ve become spoiled a little bit by this double
digit earnings growth, and we`re going to go back to something more normal
over the course of the next couple of quarters, it seems to me.
MILLER: Although the earnings season is officially under way, this
week is not expected to be a heavy one for numbers. Just three more
members of the S&P 500 are expected to report this week. Erika Miller,
NIGHTLY BUSINESS REPORT, New York.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06: The North American International Auto Show Could Get U.S. Car Makers Revved Up
PAUL KANGAS: Auto companies from around the world are wooing American
consumers in Detroit this week. Luxury sedans, muscle cars and hybrids are
all on display at the North American international auto show. As Diane
Eastabrook reports, the event is especially important this year for the
struggling U.S. auto industry.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: It is the
year of the crossover at the North American international auto show in
Detroit. Ford, whose pickups and sport utilities have been burned by high
gas prices, debuted two of the fuel-efficient truck-like cars. The edge
and the Lincoln MKX arrive in showrooms later this year.
MARK FIELDS, PRESIDENT, AMERICAS FORD MOTOR CO.: This year we expect
the actual crossover market to be larger and eclipse the SUV market.
EASTABROOK: General Motors is also counting on crossovers to help win
back customers. The Buick Enclave concept could hit showrooms in a couple
of years. And a new hybrid electric version of the Saturn Vue goes on sale
this fall.
RICHARD WAGONER, CHAIRMAN & CEO, GENERAL MOTORS: We think a lot of
people that have traditionally bought SUVs, which has been a huge growth
segment, have done so because they offered a lot of the features they
wanted, but also offered features they didn`t need. And I think the
crossovers get through some of that.
EASTABROOK: Analysts call this a pivotal year for the entire auto
industry. U.S. companies recently saw their combined market share slip
below 60 percent for the first time. And auto makers, both domestic and
foreign, are battling each other fiercely with a wider array of products.
JEFFERY SCHUSTER, EXEC. DIRECTOR,FORECASTING, J.D. POWER & ASSOC.:
You essentially have every vehicle type available to consumers, so the
choices are higher, the competitive pressures are greater on each of the
brands -- even the brands that have done very well.
EASTABROOK: Chrysler wants to leverage the success of its 300 sedan
with the Imperial concept. The Imperial would be longer, more luxurious
and probably pricier than the 300.
TOM LASORDA, PRESIDENT, CHRYSLER GROUP: We see growth there, the LX a
great platform. It`s a very, very efficient platform for us and we can
compete there. So we`ll have more out there in the future.
EASTABROOK: Chrysler products could eventually come equipped with
blue-tech, a clean diesel technology DaimlerChrysler is rolling out in some
of its Mercedes Benz vehicles. Meanwhile, Honda wants to grab more young
buyers with its new Fit. As a lure to them, the subcompact offers iPod
connectivity. But Nissan`s Urge concept goes after echo boomers even more
aggressively. The hip roadster features an Xbox 360 video game system that
can be played when the car is parked. The video screen folds down from the
rear view mirror and the steering wheel and pedals act as game controls.
CARLOS GHOSN, CHAIRMAN & CEO, NISSAN: Every little single thing which
moves the car out of the commodity business, making it more complicated,
more fitting the needs of the consumers -- we`re ready for you.
EASTABROOK: Analysts say the next 18 months will be crucial for the
U.S. auto industry. Both Ford and General Motors must execute cost-cutting
plans and they say all three auto companies have to convince American
buyers that they have the kinds of products Americans want to buy. Diane
Eastabrook, NIGHTLY BUSINESS REPORT, Detroit.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06: Supreme Court Nominee Samuel Alito, Jr. Gets Grilled On The Hill
SUSIE GHARIB: On Capitol Hill today, Supreme Court nominee Samuel
Alito faced Senate lawmakers in day one of his confirmation hearings for
the high court. The day was reserved for opening statements, with Judge
Alito telling the Senate Judiciary Committee that no one is above the law
or beneath it. Stephanie Dhue reports.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Supreme Court
nominee Samuel Alito says a judge can`t have any agenda or preferred
outcome in a case and he says the best judges delay reaching a conclusion
until all the evidence and opinions have been considered.
SAMUEL ALITO, SUPREME COURT NOMINEE: Good judges are always open to
the possibility of changing their minds.
DHUE: Senators set the stage for what Chairman Arlen Specter called a
"subtle minuet," with senators questioning and the nominee only answering
enough to be confirmed. Democrats on the committee put Judge Alito on
notice that they want answers.
SEN. JOSEPH BIDEN (D) DELAWARE: I believe we - you and I and this
committee -- owe it to the American people, in this one democratic moment,
to have a conversation about the issues that will affect their lives
profoundly.
DHUE: But Republicans say nominees should not be in the position of
pre-judging issues they will likely hear in the future.
SEN. JON KYL (R) ARIZONA: Our courts provide a neutral forum for the
adjudication of disputes under the law, not based on economic or political
power, on race, on sex or any other personal characteristics. Big guy,
little guy, it should make no difference. The rule of law demands
neutrality.
DHUE: Among Alito`s views under scrutiny are his opinions on the
balance of state and Federal power. In one high profile case, Judge Alito
dissented in a decision to uphold a Federal law banning machine gun
possession. Senator Diane Feinstein says she`s concerned Alito will
continue the high court`s trend of narrowing congressional power.
SEN. DIANNE FEINSTEIN,(D) CALIFORNIA: This trend, I believe, if
continued would restrict and could even prevent the Congress from
addressing major environmental and social issues of the future.
DHUE: Judge Alito has won the support of business groups. Both the
Chamber of Commerce and the National Association of Manufacturers have
endorsed him. But on most business issues, Alito`s record is limited.
MARK LEVY, COUNSEL, KILPATRICK STOCKTON: Securities law, anti-trust
law, preemption, punitive damages, class actions -- he`s decided a few
cases, but not very many. I think business rather is looking to him first
of all as a very intelligent judge, one who will take seriously and
appreciate the arguments that are made on both sides of the case.
DHUE: Judge Alito`s views may become more clear this week as he
answers questions from lawmakers. But if the recent confirmation of Chief
Justice Roberts is a guide, Samuel Alito is more likely to be judged on
just how well he performs the minuet. Stephanie Dhue, NIGHTLY BUSINESS
REPORT, Washington.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06: "Commentary"-What's
Ahead for the Next Fed. Head
LINDA O'BRYON: In tonight`s commentary, a few thoughts on the challenges facing the
next Federal Reserve chairman. Here`s Alice Rivlin, economist at the
Brookings Institution and former vice chair of the Federal Reserve.
ALICE RIVLIN, ECONOMIST, THE BROOKINGS INSTITUTION: Paul Volcker was
the Federal Reserve chairman who slew the inflationary dragon that attacked
the American economy in the 1970s. Alan Greenspan was the skillful fine-
tuner who steered the economy through a series of shocks: the 1987 stock
market crash, the Asian financial crisis, exuberance -- rational and
irrational in the 1990s, the market crash of 2000 and the stresses that
followed 9/11.
As he becomes chairman, Ben Bernanke must wonder what his legacy will
be. I suspect he will not rise to glory as an inflation-fighter. That
dragon is a tamer beast. Domestic producers are more flexible and unions
less powerful. Electronic products have negligible marginal costs, and
global competition holds down American wages. These factors reduce the
likelihood of runaway inflation demanding drastic central bank action.
Rather, Bernanke will have to maintain economic stability as the rest
of the world tires of financing American profligacy at low interest rates.
The dollar will fall, perhaps precipitously. The Fed will have to work
closely with other central banks to avoid a financial crisis that could
push the world into recession. Promises made to the elderly also cannot be
kept with borrowed money. The Fed will need a steady hand as benefits are
cut and taxes raised to bring the budget deficit under control. The new
chairman may yearn for the less complex challenges of mere inflation
fighting. I`m Alice Rivlin.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06: "Paul Kangas' Stocks In The News"
PAUL KANGAS: Encouraged by last week`s big gains on Wall Street, buyers
took the upper hand this morning with the help of analyst upgrades on
General Motors, Merrill Lynch and Cisco, which overrode a downgrade on IBM.
At noon, the Dow was up 25 points; NASDAQ rose 11. Just after 1:00 p.m.,
the Dow, then up 43 points, moved above the 11,000 level with the help of a
strong home building sector and a backing down in oil prices. So the Dow
industrial average went on to close with a gain of 52 1/2 points at
11,011.90. The NASDAQ rose 13 points to 2318.69, while the Standard &
Poor`s 500 was up 4.70 ending at 1290.15. Over in the bond market, the 10-
year note was up 3/32 to 101 2/32, putting the yield at 4.37 percent.
Most active big board issue on 18.4 million shares was Sprint Nextel
(S) moving down $0.13.
But then a stellar day for General Motors (GM) up $1.61, very nice
move there. Goldman Sachs upgraded it from "sell" to "hold" and GM`s
chairman downplayed talk of bankruptcy, saying financial results should
improve this year for GM.
Lucent Technology (LU) a $0.04 loss.
Ford Motor Co (F) moved up a dime.
Tyco Intl (TYC) rising $1.06. The "Wall Street Journal" today reports
Tyco is considering splitting into three separate segments. Wall Street
seemed to like the idea.
Pfizer (PFE) no change.
EMC Corp (EMC) down $0.13.
There you see Boston Scientific (BSX) down $0.36. Now its $25 million
bid you just heard about for Guidant is worth about $72 a share for
Guidant, whose stock moved up $1.65 to 69. That`s a lot better than the $64
a share bid for Guidant from Johnson & Johnson.
Time Warner (TWX) was down $0.17.
AT&T (T), tenth in volume, a $0.09 gain.
IBM (IBM) fell $1.22. As I touched on, downgrade, this time from
JPMorgan from "over weight" to just a "neutral" rating for big blue.
JPMorgan Chase (JPM) moved up $0.65. Prudential upgraded it from
"under weight" to "neutral," boosted its price target from $33 to $40 a
share. Think they`re going to have to do some more boosting after today.
Merrill Lynch (MER) was up nearly $1. Prudential upgraded it from
"neutral" to "over weight" and also boosted its price target for Merrill
Lynch from $64 to $80 a share.
Tektronix (TEK) moved up $2.22. The Baird brokerage upgraded it from
"neutral" to "out perform," likes the company`s outlook for sales and
that`s one of the reasons for the upgrade.
Abbott Labs (ABT) up $1.52. Now, if Boston Scientific does acquire
Guidant, it will sell its vascular intervention business to Abbott for $4.3
billion. Meanwhile today, JPMorgan upgraded Abbott stock from "neutral" to
"over weight," so a nice move up there.
Water Pik Technologies (PIK) up $5.56. The company that`s 80 percent
owned by Carlisle Group will acquire Water Pik for $27.75 a share in cash.
Toll Brothers (TOL) up $2.29. Merrill Lynch said today that the
valuation of the large home building stocks is compelling. Let`s look at
some of the other stocks in the housing sector.
Centex (CTX) more than a $4 gain.
And DH Horton (DHI), Lennar (LEN), Pulte Homes (PHM) all up more than
$2 a share today.
National Financial Partners (NFP), one of the big losers and very few,
down $2.95. Merrill Lynch issued one of its rare "sell" recommendations on
NFP today.
Volume leader as usual on NASDAQ, Google (GOOG) up $1.24. That`s at a
new record closing high.
Then came Apple Computer (AAPL) with a $0.25 loss.
Sandisk (SNDK) doing well, up $3.16. Verizon says it`s going to use
Sandisk`s new flash memory cards to store music on its phone.
Cisco Systems (CSCO) a $0.29 gain there. Prudential Securities
upgraded it from "neutral" to "over weight."
Microsoft (MSFT) a $0.05 loss. That was fifth in dollar volume.
Intel (INTC) $0.16 gain.
Juniper Networks (JNPR) was down $1.01. Prudential downgraded it from
"over weight" to "neutral" and cut its price target by $4, down to $24 a
share.
Rambus (RMBS) up $5.26. A federal judge ruled a case against rival
Hynix semiconductor can proceed. Hynix wanted it dismissed.
Dell (DELL) $0.68 gain.
Yahoo! (YHOO) up $0.21.
Then finally, Urban Outfitters (URBN), the fashion apparel retailer,
got an upgrade from Lehman Brothers from "equal weight" to "over weight."
And those are the stocks in the news tonight.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
01/09/06:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 11011.90 +52.59 + .5
HIGH 11020.15
LOW 10944.43
NASDAQ COMP. 2318.69 +13.07 +.6
HIGH 2322.63
LOW 2303.13
VOLUME 1,669.9
PREVIOUS 1,775.1
UP VOLUME 1,070.0
DOWN VOLUME 563.6
DOW TRANSPORTS 4238.34 +24.06 + .6
DOW UTILITIES 413.21 -1.94 - .5
CLOSING TICK +474
S&P 500 1290.15 +4.70 + .4
S&P 100 586.69 +1.67 + .3
MIDCAP 400 768.71 +5.93 + .8
REUTERS/CRB 337.33 -2.14 - .6
NYSE COMPOSITE 8053.42 +21.76 + .3
VALUE LINE 428.93 +3.22 + .8
RUSSELL 2000 706.24 +6.85 + 1.0
DJW 5000 12962.91 +61.22 + .5
U.S. TREASURIES
5-YEAR NOTE 4.375%
Dec. 15,2010 100 10/32 +3/32 4.31
10-YEAR NOTE 4.50%
Nov. 15,2015 101 +3/32 4.37
30-YEAR NOTE 5.375%
Feb. 15, 2031 112 7/32 +6/32 4.55
LEHMAN BROS.
LONG BOND INDEX 1773.70 -1.10
DOW CLOSE 11011.90 +52.59 + .5
ADVANCES 2258
DECLINES 1101
NEW HIGHS 393
NEW LOWS 13
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
S Sprint Nextel 23.13 -.13 -.6
GM General Motors 22.41 +1.61 +7.7
LU Lucent Tech 2.73 -.04 -1.4
F Ford Motor Co 8.62 +.10 +1.2
TYC Tyco Intl 31.04 +1.06 +3.5
PFE Pfizer 24.85 unch. unch.
EMC EMC Corp 13.60 -.13 -1.0
BSX Boston Scientific 25.88 -.36 -1.4
TWX Time Warner 17.56 -.17 -1.0
T AT&T 25.02 +.09 +.4
NASDAQ CLOSE 2318.69 + 13.07 + .6
VOLUME 2,030.5
PREVIOUS 2,335.5
ADVANCES 1869
DECLINES 1195
NASDAQ ACTIVES
GOOG Google 466.90 +1.24 +.3
AAPL Apple Computer 76.05 -.25 -.3
SNDK SanDisk 77.11 +3.16 +4.3
CSCO Cisco Systems 19.06 +.29 +1.6
MSFT Microsoft 26.86 -.05 -.2
INTC Intel 26.47 +.16 +.6
JNPR Juniper Networks 21.05 -1.01 -4.6
RMBS Rambus 28.20 +5.26 +22.9
DELL Dell 31.32 +.68 +2.2
YHOO Yahoo! 43.42 +.21 +.5
AMEX CLOSE 1809.02 + 4.56 + .3
INDEX SHARES
DIA DIAMONDS TRUST 109.98 +.48 +.4
QQQ NASDAQ 100 42.85 +.17 +.4
SPY S&P DEP.RECEIPTS 128.77 +.33 +.3
STOCKS IN THE NEWS
IBM IBM 83.73 -1.22 -1.4
JPM JPMorgan Chase 40.67 +.65 +1.6
MER Merrill Lynch 69.68 +.98 +1.4
TEK Tektronix 30.57 +2.22 +7.8
ABT Abbott Labs 42.41 +1.52 +3.7
PIK Water Pik Tech 27.18 +5.56 +25.7
TOL Toll Brothers 39.52 +2.29 +6.2
CTX Centex Corp 78.26 +4.27 +5.8
DHI D.R. Horton 39.95 +2.70 +7.3
LEN Lennar 65.24 +2.62 +4.2
PHM Pulte Homes 44.08 +2.46 +5.9
NFP National Financial 52.00 -2.95 -5.4
URBN Urban Outfitters 29.07 +3.72 +14.7
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