Thursday, December 01, 2005
Marketwatch.com Dow, gold off to good December start
MARKET SNAPSHOT
December gets off to a strong start
Dow jumps 106 points; gold ends above $500
By Mark Cotton, MarketWatch
Last Update: 4:41 PM ET Dec. 1, 2005 [ Page 1 | 2 ]
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NEW YORK (MarketWatch) -- U.S. stocks closed sharply higher Thursday as a raft of inflation-friendly data sparked a rally in technology shares and handed the Dow Jones Industrial Average its first triple-digit gain in more than a month.
MARKETWATCH TOP NEWS
U.S. stocks end higher; Dow jumps 106 pts
White House bumps up 2005 GDP forecast to 3.5%
Imported auto parts make deep advance in U.S.
Enough bad-mouthing Merck
XL CEO O'Hara under pressure to resign, analyst says
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Metals prices also kept up their bullish pace, and gold closed above $500, a feat not seen since 1987.
The Dow ($INDU:
Dow Jones Industrial Average
News, chart, profile
Last: 10,912.57+106.70+0.99%
4:30pm 12/01/2005
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FinancialsMore $INDU$INDU10,912.57, +106.70, +1.0%) rose 106.70 points, or 1%, to 10,912.57, its first gain of more than 100 points since Oct. 28.
The Nasdaq Composite Index ($COMPQ:
Nasdaq Composite Index
News, chart, profile
Last: 2,267.17+34.35+1.54%
5:16pm 12/01/2005
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FinancialsMore $COMPQ$COMPQ2,267.17, +34.35, +1.5%) climbed 34.35 points, or 1.5%, to 2,267.17. The tech-rich index put in its best one-day performance in six weeks.
The S&P 500 Index ($SPX:
S&P 500 Index
News, chart, profile
Last: 1,264.67+15.19+1.22%
4:59pm 12/01/2005
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FinancialsMore $SPX$SPX1,264.67, +15.19, +1.2%) tacked on 15.19 points to close at 1,264.67.
"You seem to be getting this period where growth is coming through, but it isn't aggravating inflation and thereby long-bond yields," said Jim Paulsen, chief investment officer at Wells Capital Management. "For the stock market, there's not a lot that can be better than that."
Among components of the Dow, McDonald's (MCD:
McDonald's Corporation
News, chart, profile
Last: 35.33+1.48+4.37%
4:02pm 12/01/2005
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FinancialsMore MCDMCD35.33, +1.48, +4.4%) rallied to a 5 1/2-year high of $35.38 as investors bet that higher personal incomes and consumer spending will bode well for the fast-food giant. See full story.
Alcoa (AA:
alcoa inc com
News, chart, profile
Last: 28.28+0.87+3.17%
4:00pm 12/01/2005
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FinancialsMore AAAA28.28, +0.87, +3.2%) climbed as much as 3.2% to $28.28 amid a broad rally in metals.
Intel (INTC:
Intel Corporation
News, chart, profile
Last: 27.18+0.50+1.87%
4:00pm 12/01/2005
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FinancialsMore INTCINTC27.18, +0.50, +1.9%) rose 1.9% to $27.18 after analysts at Bear Stearns said the company likely will raise its fourth-quarter revenue outlook when it provides a midquarter update on Dec. 8. That helped semiconductor stocks ($SOX: phlx semiconductor index sox
News, chart, profile
Last: 501.91+20.27+4.21%
4:03pm 12/01/2005
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FinancialsMore $SOX$SOX501.91, +20.27, +4.2%) put in their best one-day gain in nearly 10 months, surging more than 4%. See full story.
Not all was happy within the Dow component stocks. Wal-Mart (WMT:
Wal-Mart Stores, Inc.
News, chart, profile
Last: 48.03-0.53-1.09%
4:02pm 12/01/2005
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FinancialsMore WMTWMT48.03, -0.53, -1.1%) fell as much as 2.1% to $47.53 after the discount retailer said it expects December same-store sales in the range of 2% to 4%, which is a narrower forecast range than its November target of 3% to 5% same-store sales growth. See full story.
On the broader market for equities, advancers outpaced decliners by more than three to one on the New York Stock Exchange and by more than two to one on the Nasdaq.
Energy ($XOI:
amex oil index
News, chart, profile
Last: 1,005.30+32.89+3.38%
4:05pm 12/01/2005
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FinancialsMore $XOI$XOI1,005.30, +32.89, +3.4%) and oil services stocks ($OSX: phlx euro style oil svc index osx
News, chart, profile
Last: 183.74+5.97+3.36%
4:04pm 12/01/2005
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FinancialsMore $OSX$OSX183.74, +5.97, +3.4%) also rallied strongly.
Volume was heavy with 1.86 billion shares traded on the Big Board, while 1.52 billion were exchanged on the Nasdaq.
On a historical basis, investors can look forward to further gains in December after a solid performance in November.
On average, the Dow industrials has gained 1.8% in December since 1950, according to the Stock Trader's Almanac. The Nasdaq Composite has risen 2.1% while the S&P 500 has gained 1.7%.
For accurate, objective Technical analysis covering the Major U.S. stock indexes go to www.shepwave.com
December gets off to a strong start
Dow jumps 106 points; gold ends above $500
By Mark Cotton, MarketWatch
Last Update: 4:41 PM ET Dec. 1, 2005 [ Page 1 | 2 ]
Disable MW live quotes | E-mail it | Print | Discuss | Alert | Reprint |
NEW YORK (MarketWatch) -- U.S. stocks closed sharply higher Thursday as a raft of inflation-friendly data sparked a rally in technology shares and handed the Dow Jones Industrial Average its first triple-digit gain in more than a month.
MARKETWATCH TOP NEWS
U.S. stocks end higher; Dow jumps 106 pts
White House bumps up 2005 GDP forecast to 3.5%
Imported auto parts make deep advance in U.S.
Enough bad-mouthing Merck
XL CEO O'Hara under pressure to resign, analyst says
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Metals prices also kept up their bullish pace, and gold closed above $500, a feat not seen since 1987.
The Dow ($INDU:
Dow Jones Industrial Average
News, chart, profile
Last: 10,912.57+106.70+0.99%
4:30pm 12/01/2005
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FinancialsMore $INDU$INDU10,912.57, +106.70, +1.0%) rose 106.70 points, or 1%, to 10,912.57, its first gain of more than 100 points since Oct. 28.
The Nasdaq Composite Index ($COMPQ:
Nasdaq Composite Index
News, chart, profile
Last: 2,267.17+34.35+1.54%
5:16pm 12/01/2005
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FinancialsMore $COMPQ$COMPQ2,267.17, +34.35, +1.5%) climbed 34.35 points, or 1.5%, to 2,267.17. The tech-rich index put in its best one-day performance in six weeks.
The S&P 500 Index ($SPX:
S&P 500 Index
News, chart, profile
Last: 1,264.67+15.19+1.22%
4:59pm 12/01/2005
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FinancialsMore $SPX$SPX1,264.67, +15.19, +1.2%) tacked on 15.19 points to close at 1,264.67.
"You seem to be getting this period where growth is coming through, but it isn't aggravating inflation and thereby long-bond yields," said Jim Paulsen, chief investment officer at Wells Capital Management. "For the stock market, there's not a lot that can be better than that."
Among components of the Dow, McDonald's (MCD:
McDonald's Corporation
News, chart, profile
Last: 35.33+1.48+4.37%
4:02pm 12/01/2005
Add to portfolio
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FinancialsMore MCDMCD35.33, +1.48, +4.4%) rallied to a 5 1/2-year high of $35.38 as investors bet that higher personal incomes and consumer spending will bode well for the fast-food giant. See full story.
Alcoa (AA:
alcoa inc com
News, chart, profile
Last: 28.28+0.87+3.17%
4:00pm 12/01/2005
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FinancialsMore AAAA28.28, +0.87, +3.2%) climbed as much as 3.2% to $28.28 amid a broad rally in metals.
Intel (INTC:
Intel Corporation
News, chart, profile
Last: 27.18+0.50+1.87%
4:00pm 12/01/2005
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FinancialsMore INTCINTC27.18, +0.50, +1.9%) rose 1.9% to $27.18 after analysts at Bear Stearns said the company likely will raise its fourth-quarter revenue outlook when it provides a midquarter update on Dec. 8. That helped semiconductor stocks ($SOX: phlx semiconductor index sox
News, chart, profile
Last: 501.91+20.27+4.21%
4:03pm 12/01/2005
Add to portfolio
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FinancialsMore $SOX$SOX501.91, +20.27, +4.2%) put in their best one-day gain in nearly 10 months, surging more than 4%. See full story.
Not all was happy within the Dow component stocks. Wal-Mart (WMT:
Wal-Mart Stores, Inc.
News, chart, profile
Last: 48.03-0.53-1.09%
4:02pm 12/01/2005
Add to portfolio
Analyst
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FinancialsMore WMTWMT48.03, -0.53, -1.1%) fell as much as 2.1% to $47.53 after the discount retailer said it expects December same-store sales in the range of 2% to 4%, which is a narrower forecast range than its November target of 3% to 5% same-store sales growth. See full story.
On the broader market for equities, advancers outpaced decliners by more than three to one on the New York Stock Exchange and by more than two to one on the Nasdaq.
Energy ($XOI:
amex oil index
News, chart, profile
Last: 1,005.30+32.89+3.38%
4:05pm 12/01/2005
Add to portfolio
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FinancialsMore $XOI$XOI1,005.30, +32.89, +3.4%) and oil services stocks ($OSX: phlx euro style oil svc index osx
News, chart, profile
Last: 183.74+5.97+3.36%
4:04pm 12/01/2005
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FinancialsMore $OSX$OSX183.74, +5.97, +3.4%) also rallied strongly.
Volume was heavy with 1.86 billion shares traded on the Big Board, while 1.52 billion were exchanged on the Nasdaq.
On a historical basis, investors can look forward to further gains in December after a solid performance in November.
On average, the Dow industrials has gained 1.8% in December since 1950, according to the Stock Trader's Almanac. The Nasdaq Composite has risen 2.1% while the S&P 500 has gained 1.7%.
For accurate, objective Technical analysis covering the Major U.S. stock indexes go to www.shepwave.com
