What’s Happening In The Market Now..
- After falling over 4% yesterday, stocks were up at the open this morning.
- The Commerce Department reported the trade deficit in December fell 4 percent to $39.9 billion, from $41.6 billion in November. It was slightly higher than the $36 billion deficit economists expected. For the year, the deficit shrank by 3.3 percent to $677.1 billion. It was the second straight annual decline after five straight years of record deficits.
- Banking leaders who benefited from a federal bailout appeared before Congress today to answer questions regarding how the funds were used.
- Investors are also awaiting a resolution on a more than $800 billion economic stimulus package that passed in the Senate on Tuesday.
- Sectors starting the day out strong include real estate services, insurance brokers, diversified financial services and regional banks while railroads, construction materials and independent power producers are down.
- Volume leaders include NVIDIA Corp (NVDA), Citigroup Inc (C), Research In Motion Ltd (RIMM), Spectra Energy Corp (SE) and Morgan Stanley (MS).
Stocks Most Watched Today
American Express Company (AXP), Best Buy Co. Inc. (BBY), Reynolds American Inc. (RAI), Palm, Inc. (PALM), Intrepid Potash, Inc. (IPI), Morgan Stanley (MS), Genzyme Corp (GENZ), Sanofi Aventis (SNY), Illinois Tool Works Inc (ITW), AngloGold Ashanti Ltd (AU), Macrovision Corp (MVSN), Fidelity National Information Services Inc (FIS), WellPoint Inc (WLP), Great Plains Energy Inc (GXP) and J B Hunt Transport Services Inc (JBHT)
Today’s News Leaders…
Research In Motion Ltd (RIMM), ArcelorMittal (MT), General Electric (GE), Toll Brothers (TOL) and Reynolds American Inc (RAI).
Goldman Sachs Group Inc (GS), Schlumberger NV (SLB), Caterpillar Inc (CAT), Expeditors International of Washington Inc (EXPD) and Cardinal Health Inc (CAH).
ETFs and HOLDRs Watched Today…
iShares Dow Jones US Finance Sector Index Fund (IYF), ProShares Ultra Dow30 (DDM), Regional Bank HOLDRs Trust (RKH), Select Sector SPDR Energy Fund (XLE) and Materials Select Sector (XLB).
Tip of the Day…
Many retirees these days have multiple retirement accounts. Don’t forget the importance of determining which accounts will be drawn down and when. Include both taxable and non-taxable accounts in your planning.