Stocks improved and turned mildly positive late Monday, ahead of the start of first-quarter earnings season. Dow component Alcoa (AA) will report after the close. The aluminum giant is expected to earn 8 cents a share on sales of $5.89 million.
The Nasdaq and the S&P 500 rose 0.3% each. They were off by as much as 0.3% apiece at Monday's lows. Meanwhile, the Dow Jones industrial average turned fractionally higher. Despite the market's action, turnover was again tracking sharply lower in the stock market today.
Tractor Supply (TSCO) rose 3% to an all-time high in fast trade. It's adding to Friday's breakout and now stands 2% past a 105.47 buy point from a flat base. Volume in Friday's breakout was only 7% above average. Generally, turnover should be at least 40% above average on a breakout. But volume was heavy Monday and has already surpassed Friday's pace with about two hours left in the session.
Toyota Motor (TM) climbed 2% to a five-year high. It's now 2% past a 106.10 buy point from a flat base cleared Friday. Even though the market sold off last week, the auto giant jumped 4% on news of big stimulus measures by the Bank Of Japan.
Elsewhere, Dunkin' Brands Group (DNKN) cut early losses and rose 1% to a two-month high. The stock, which has found support at its 50-day line recently, is nearing a 40.10 buy point in a flat base. Mutual fund ownership of Dunkin' climbed in the past three quarters. Leading funds such as Fidelity Contra , Fidelity OTC and Columbia Marsico own shares.
Despite market volatility, some restaurant stocks have showed strength recently.
Marketwide, leaders down in volume were few, but Google (GOOG) lost 2% and was on pace for its fourth straight loss. The stock is now 4% past a 738.38 buy point from a cup-with-handle base. It had been up as much as 14%.
garbage pail kids st bonaventure ncaa tournament 2012 peyton manning 49ers andy pettitte tyler clementi kevin kolb
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.