Wednesday, October 06, 2010

MIDDAY LUNCH

Dow 10964.43  +19.71, Nasdaq 2387.72  -12.11,S&P 1160.99  +0.24 

Natural resource stocks have help push the market into positive territory today.  The basic material sector is up +1.40% with shares of United States Steel (X) 44.34 +1.34, +3.12% and Freeport McMoran (FCX) 94.19 +3.01, 3.31% among the most active.

Shares of Monsanto  (MON) 49.75, +1.23, +2.54% are also among the most active and are trading to the plus side even after missing earnings and giving lower future guidance. The company reported earnings of -0.09 missing estimates by -0.03.

The CRB Commodity Index is up +0.6% and is now at its best level since the beginning of January. Oil is trading at 83.88 +1.06, Nat Gas 3.862 +0.119, Gold 1349.50 +9.2 and Copper 375.50 +3.05.

Other gainers today include Conglomerates up +1.50% with GE (GE) 16.99 +0.48, +2.91% and 3M (MMM) 89.72 +0.86, +0.97% among the most active.

In economic data the ADP employment report missed estimates for September coming in at -39,000.  Economists were looking for a gain of +18,000.

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