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Market Update Analysis: 
Ctrip Rises 9%
Author: Elena Todorova
123jump.com
Last Update: 11:57 AM EDT May 18 2006


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Stocks turned to lackluster trading in late morning as investors remained worried about inflation and interest-rate hikes. The negative sentiment was limited by gains for Hewlett-Packard and Shares Corp. Hewlett-Packard rose 2.3% after Morgan Stanley upgraded the stock. Shares of Sears rose 12.4% after the company reported a much bigger-than-expected quarterly profit. Among other gainers, Trend Micro rose 6.5%, while Ctrip climbed nearly 9% on strong full-year results.

 
Light crude oil was trading 14 cents down at $68.55 a barrel by 0742 GMT, continuing yesterday’s 84-cent loss. London Brent gained 3 cents to $69.07. Gold declined in early trade to $687.50 an ounce, down from $696.70, along with silver which also lost ground to$13.10 an ounce, down from $13.30 an ounce. The dollar fell against the euro. The euro bought $1.2792, up from $1.2741 late Wednesday. The British pound traded at US$1.8880, up from US$1.8816 and the yen was slightly stronger. The dollar traded at 110.65 Japanese yen, down from 110.96 yen.
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