Wednesday, November 30, 2005
CNBC.com November ends on a downdraft
CNBC Market Dispatches11/30/2005 4:25 PM ET
November ends on a downdraft
Still, it's the second-best month for stocks this year. Will December follow? Legal woes knock Research in Motion down 6.6%. The economy proves itself remarkably strong.
advertisement
Article Tools
E-mail this articlePrint this articleSend us your commentsTop Gainers Symbol %Change
DOC +42.37%
GRIN +41.89%
BCRX +37.51%
Top Losers Symbol Change
VOCLD -25.31%
JCTCF -17.39%
CHNR -14.11%
View all lists and trends
Exchange Rates Currency US Dollar
British Pound Futures Spot Price 1.729200
Euro in US Dollar 1.178400
Japanese Yen Futures Spot Price 0.008347
Canadian Dollar in US Dollar 0.857633
More
On the last day of November, there was good economic news -- very good economic news, in fact. Investors, however, were clearly not impressed.
At the close, the Dow Jones industrials were down more than 82 points. The Standard & Poor's 500 Index lost eight points. The Nasdaq Composite was up slightly, thanks to strength among semiconductors.
The good news came from the latest report on third-quarter economic growth. The Commerce Department said the economy grew at a revised annual rate of 4.3%, up from a preliminary estimate of 3.8%. That's the best performance since the first quarter of 2004.
So, what about Katrina and Rita and the strike at Boeing (BA, news, msgs)? Most economists guess the trio knocked growth down by a percentage point. If you kick those out, the economy might have grown as much as 5% on an annualized basis.
And the stock market didn't care. Actually, a better way to look at the day: The stock market cared that the bond market cared. The yield on the 10-year Treasury note bumped up to 4.5% this afternoon, up from 4.48% yesterday and 4.41% on Monday.
For objective Elliott Wave Theory analysis go to www.shepwave.com
November ends on a downdraft
Still, it's the second-best month for stocks this year. Will December follow? Legal woes knock Research in Motion down 6.6%. The economy proves itself remarkably strong.
advertisement
Article Tools
E-mail this articlePrint this articleSend us your commentsTop Gainers Symbol %Change
DOC +42.37%
GRIN +41.89%
BCRX +37.51%
Top Losers Symbol Change
VOCLD -25.31%
JCTCF -17.39%
CHNR -14.11%
View all lists and trends
Exchange Rates Currency US Dollar
British Pound Futures Spot Price 1.729200
Euro in US Dollar 1.178400
Japanese Yen Futures Spot Price 0.008347
Canadian Dollar in US Dollar 0.857633
More
On the last day of November, there was good economic news -- very good economic news, in fact. Investors, however, were clearly not impressed.
At the close, the Dow Jones industrials were down more than 82 points. The Standard & Poor's 500 Index lost eight points. The Nasdaq Composite was up slightly, thanks to strength among semiconductors.
The good news came from the latest report on third-quarter economic growth. The Commerce Department said the economy grew at a revised annual rate of 4.3%, up from a preliminary estimate of 3.8%. That's the best performance since the first quarter of 2004.
So, what about Katrina and Rita and the strike at Boeing (BA, news, msgs)? Most economists guess the trio knocked growth down by a percentage point. If you kick those out, the economy might have grown as much as 5% on an annualized basis.
And the stock market didn't care. Actually, a better way to look at the day: The stock market cared that the bond market cared. The yield on the 10-year Treasury note bumped up to 4.5% this afternoon, up from 4.48% yesterday and 4.41% on Monday.
For objective Elliott Wave Theory analysis go to www.shepwave.com
