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Semis and Hardware Support Nasdaq Rise
Jan 11, 4:37 PM EST |
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| Apple marched 3% higher for the second day in a row. Oil gyrated after weekly petroleum report. Gold rose. Casinos rallied on Macau Hope. |
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| Tech stocks led broader averages rise during the day. Computer hardware, semis and large cap tech stocks led rally. Oil gyrated after the weekly energy report. financial services and brokerage stock rallied for the second day in a row. Gold rose in projections of $600 price before the year end. Casino stocks were intense focus of speculation as estimates on Macau related gambling were revised. |
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Casinos Roll on Macau Hope
Jan 11, 1:46 PM EST |
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| Wynn Resorts, Las Vegas Sands gained on MGM Mirage' expansion plan for a casino resort in Macau, expected to cost $1.06 B and open in 2007. |
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| Lowered fourth-quarter profit guidance from DuPont and BP PLC sent stocks below the unchanged mark. However, brokerage upgrades on Apple Computer and Hewlett-Packard provided support. Banc of America Securities and UBS raised their price target on the stock. Apple climbed 3.4% extending a multi-year high, boosted by its decision to use Intel''s microprocessors. Boeing signed its largest satellite contract in nine years with the deal worth between $550 M and $1 B. |
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Boeing and Air India in $11 B Deal
Jan 11, 11:28 AM EST |
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| Crude oil inventories dropped by 2.9 million barrels for the week ended Jan 6 to 318.7 million barrels. Gasoline inventories rose 4.5 million barrels. |
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| U.S. stocks opened below the flat line on lowered Q4 profit guidance from DuPont and BP PLC. However, brokerage upgrades on Apple Computer and Hewlett-Packard provided support. Banc of America Securities raised its Apple price target to $87 from $78 and UBS raised its price target on the stock to $100 from $86. Apple climbed 3.4% extending gains on new products announcements and positive revenue. The stock hit a new multi-year high. |
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DuPont Cuts Outlook
Jan 11, 11:29 AM EST |
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| Oil prices steadied at $63.50 a barrel ahead of oil inventory report. European gold traded higher. The dollar gained vs. the yen and pound. |
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| Asian-Pacific markets closed mostly strong on upbeat economic data from China with the Nikkei in the lead, rising 1.5% to 16.363.59. Among the losers, China Shanghai Composite dropped 0.8% and South Korean Kospi dropped 0.2%. European shares advanced at mid-day supported by merger-and-acquisition activity, led by the DAX 30, up 0.6%. |
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