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by 7/7/2000 10:26 AM
Stocks quoted in this article:
Financial stocks are getting a pop in early trading today after a benign employment report hit the Street before this morning's opening bell. So far today, the Street appears to be interpreting the news as a signal that the Federal Reserve may not need to raise interest rates again at the August Federal Open Market Committee meeting. The PHLX KBW Banking Index (BKX - 796.14) is about two percent higher, while the S&P Insurance Index (IUX - 638.74) is up over one percent. The AMEX Securities Broker/Dealer Index (XBD - 504.35) is trailing the other two indices, as it is currently unchanged on the day. However, it is being adversely weighed upon by a four-point decline in Merrill Lynch (MER - 119-5/8). MER is paring yesterday's gains after Deustche Bank denied rumors that they were planning to acquire the brokerage house.<
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by 7/7/2000 8:49 AM
Stocks quoted in this article:
Generally solid results overseas gave U.S. markets a solid footing heading into today's non-farm payroll report. The benign report has given U.S. stock and bond futures a boost in pre-open trading. Thirteen of 18 world markets are higher thus far. On average, the overseas markets are up 0.61 percent. The top four major markets and their respective returns are Finland (HEXND - 15705), up 3.00 percent; Hong Kong (HKIND - 16830), up 2.06 percent; Sweden (AFFND - 5955), up 1.60 percent; and Singapore (SIIND - 2097.9), up 1.88 percent. The bottom four major markets and their respective returns are South Africa (JIIND - 8614.7), down 0.88 percent; Belgium (BELND - 2943.3), down 0.33 percent; Switzerland (SMIND - 7889), down 0.29 percent; and United Kingdom (FTIND - 6405), down 0.23 percent.<
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by 7/6/2000 4:13 PM
Stocks quoted in this article:
The Nasdaq market posted record second-quarter average daily share volume of 1.59 billion shares. The total first half average daily share volume came in at 1.70 billion shares. The heaviest trading day ever was April 4, when more than 2.88 billion shares crossed the tape. There were 16 days of more than two billion shares traded on the Nasdaq, the last of which was when 2.02 billion shares were traded on May 24. By comparison, today's regular session Nasdaq volume was 1.45 billion shares.
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by 7/6/2000 4:09 PM
Stocks quoted in this article:
According to a report released today by the Mortgage Banker's Association of America (MBAA), mortgage delinquencies fell to a 28-year low. The MBAA's National Delinquency Survey said this quarter marked the sixth straight quarter of falling delinquencies. The national delinquency rate fell to 3.72 percent, primarily because of a strong job market, rising incomes, and low interest rates.
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by 7/6/2000 2:07 PM
Stocks quoted in this article:
On Wednesday, Palm Inc. (PALM - 31-7/8) reached its highest intraday level since April 14, as the stock gained over one percent. This afternoon, though, the shares have erased all of yesterday's climb, slipping down by nearly two percent. However, PALM remains in the midst of a near-term uptrend, stepping up by about 60 percent since its intraday bottom on May 24. On the options front today, 1,508 contracts have crossed the tape on the July 30 call, which has open interest of 5,373 contracts. In the back-month series, numerous contracts have seen volume of more than 1,000 contracts, led by the August 20 call (4,150 contracts) and the August 10 call (3,661 contracts). These are currently two of the most-active calls on the Pacific Exchange and PHLX, respectively.
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