Market Thur 11/06

ron · #1 (**permalink**) 12-06-2007, 01:33 PM

The Bank of England decided to cut its lending rate 25 basis points to 5.50%.

ron · #2 (**permalink**) 12-06-2007, 01:36 PM

stock market is trading in a tight manner, modestly above the unchanged mark. The major indices have remained in the green this morning, with the exception of the first few minutes following the opening bell.

ron · #3 (**permalink**) 12-06-2007, 01:38 PM

In economic news, new claims for unemployment for the week ended Dec. 1 fell to 338,000 from 353,000 the week before...- on a related note, according to the Mortgage Bankers Association, third quarter U.S. mortgage delinquencies rose to a 20-year high and foreclosures hit an all-time high. The President's plan, which was in the works well before this release, will attempt to decrease delinquencies and foreclosures.

ron · #4 (**permalink**) 12-06-2007, 01:41 PM

the stock mrkt opened mixed to slightly weaker but have worked modestly higher into midday...Dow and S&P 500, which have broken above last week's highs, have recently edged to new session peaks w/Naz hovering just below the morning high (2685) with last wk's peak/Oct low/50% retrace of Oct-Nov at 2696/2701....Dow currently up 58.77, Naz +18.57, Ndx +8.83 rtq.

ron · #5 (**permalink**) 12-06-2007, 03:05 PM

mrkts continue to remain in tight trading range. Most likely this will be main theme into Fed's 11 meeting...Dow up 45.12 Points, Naz +15.22, Ndx 5.61 rtq. (real time quote)