10:30 ET Dow +55, Nasdaq +23, S&P +5.37: [BRIEFING.COM] The index of Leading Indicators rose the expected 0.1% in April and the March decline was revised to -0.2% from -0.3%... The April result was only the third increase in the last 12 months and offers some hope that the anticipated economic recovery in the latter half of the year will indeed materialize... That realization helped the indices surge to new session highs shortly after the release was made public... The indices have pulled back in the past few minutes, however, as today's gains coupled with yesterday's massive gains have led to an overbought condition that has prompted some profit taking among technical traders... Overall action remains encouraging as participation is widespread while volume is picking up from the doldrums seen not too long ago... NYSE Adv/Dec 1696/964... Nasdaq Adv/Dec 2103/1056.
10:00 ET Dow +50, Nasdaq +36, S&P +5.84: [BRIEFING.COM] Market catching its breath after staging an expeditious advance off the opening lows; however, the bullish bias remains intact as traders have shown an inclination to buy dips... Also noteworthy that the participation in the early advance has been rather broad-based and that notable losses are limited mostly to individual stocks... The technology issues are pacing the gains with telecom equipment, semiconductor, and software shares among the frontrunners... Major indices are at, or near, their highs for the session with retail, paper, and gold stocks providing some added support for the broader market... Leading Indicators report due to be released any minute... Consensus expectations are for a 0.1% gain... NYSE Adv/Dec 1597/881... Nasdaq Adv/Dec 2044/862. |
