| 11:00 ET Dow +3, Nasdaq +22, S&P +3.09: [BRIEFING.COM] Indices posting modest gains, yet the participation in the advance has been narrow in scope... Most of the buying interest has been focussed on the tech sector; meanwhile, the blue chips are lagging behind, weighed down by a weak showing from the financial, apparel, and oil service issues... With respect to the tech sector, the chip, chip equipment, and software components are pacing the action... Philip Morris (MO -2.71) feeling the heat after losing a $3 bln jury verdict... As to be expected, industry peers like R.J. Reynolds (RJR -2.56), UST, Inc. (UST -1.09), British American Tobacco (BTI -0.49) and Loews (LTR -2.99) are trading lower in sympathy as the verdict has reignited concerns surrounding the negative impact of tobacco litigation, which had diminished in the wake of the rotation into the defensive-oriented tobacco group as the tech sector cratered, the tobacco companies' previous success in the courtroom, and the Republican victory in the Presidential Election... NYSE Adv/Dec 1312/1372... Nasdaq Adv/Dec 1641/1481. |
