Market Soapbox 04/25/07
WEN, triple digit jump, DJIA +136 on average volume with sparkling internals. All UP. Bonds down 10yr yield +3 bps 4.65, $ up vs 118.727y & down vs 1.3637E, WTI crude up 2% $65.84, gold down $687.4
Yesterday a 3.5% surge in IBM put the DJIA within 10 of 13K as a 2% drop in crude went suspiciously unnoticed by the transports, while discretionary and telecom fell.
Today, Alcoa surged 6% and IBM added 1.2% to spike the DJIA over 13k while the NAZ got pumped up by Amazon's 24% surge despite Sun Micro's 11% and Samina's 7% plunge.
Manufacturing a shortage.... Crude bouncing back as gasoline supplies fell for an 11th straight week on a refinery utilization plunge of 2.6% to 87.8%
NDX hitting 1883 intraday. Afterhours: Qualcomm world's #2 maker of mobile phone chips, Q2 profit +22% on sales +21%
Tomorrow, initial claims, GDP, chain deflator, and numerous reports. Will bad numbers cause a pull back or will this party just keep jumping? Often wrong, but never in doubt, this is the Nattering Naybob and your not!!!
Yesterday a 3.5% surge in IBM put the DJIA within 10 of 13K as a 2% drop in crude went suspiciously unnoticed by the transports, while discretionary and telecom fell.
Today, Alcoa surged 6% and IBM added 1.2% to spike the DJIA over 13k while the NAZ got pumped up by Amazon's 24% surge despite Sun Micro's 11% and Samina's 7% plunge.
Manufacturing a shortage.... Crude bouncing back as gasoline supplies fell for an 11th straight week on a refinery utilization plunge of 2.6% to 87.8%
NDX hitting 1883 intraday. Afterhours: Qualcomm world's #2 maker of mobile phone chips, Q2 profit +22% on sales +21%
Tomorrow, initial claims, GDP, chain deflator, and numerous reports. Will bad numbers cause a pull back or will this party just keep jumping? Often wrong, but never in doubt, this is the Nattering Naybob and your not!!!
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