Market commentary for Thursday, June 2, 2005
June 3, 2005 (Press Release) --
Widely-held stocks delivered a modest move up today. Still, the stock market began trading with a boring trading session to start the day. Throughout the day the market traded up, down, and sideways to finally rally for the session by only a small percent.
Comments about the economy, war, and world events provided traders a good deal to consider. Virtually all hedgefund managers feel that big news like, General Mills: SEC Ending Investigation, Citigroup to Buy Federated, May Accounts, and Dell Apologizes for E-Mail About Lenovo, did not factor much the way stocks traded today.
You could find a couple stocks with nice percent moves, however. Equities that delivered substantial strides include, among others, Chicago Mercantile Ex Hd (NYSE:CME), Delta Air Lines Inc (NYSE:DAL), and Hawaiian Holdings Inc (AMEX:HA). Investors took a long, hard look at Hawaiian Holdings Inc (AMEX:HA).
Quite a few short-sellers hold the opinion that the market is at a crossroads. Considering the uncertainty in the news these days in terms of inflation, it's amazing the broad markets didn't move lower. As a matter of fact, a trader may be wondering how come the market moved higher in the final hour anyway.
One commentator commented, " We're seeing a little pause here, but we're in the middle of a powerful uptrend, and traders should be looking at every dip in the market to find a new entry point." - Ken Tower, chief market strategist for Schwab's CyberTrader
Equities you need to add to your watchlist when trading resumes include Cisco Systems Inc (Nasdaq:CSCO), Applied Materials Inc (Nasdaq:AMAT), and Sirius Satellite Radio (Nasdaq:SIRI). Trading volume was quite strong those stocks. Investors should see the same type of trading for the next market session.
Comments about the economy, war, and world events provided traders a good deal to consider. Virtually all hedgefund managers feel that big news like, General Mills: SEC Ending Investigation, Citigroup to Buy Federated, May Accounts, and Dell Apologizes for E-Mail About Lenovo, did not factor much the way stocks traded today.
You could find a couple stocks with nice percent moves, however. Equities that delivered substantial strides include, among others, Chicago Mercantile Ex Hd (NYSE:CME), Delta Air Lines Inc (NYSE:DAL), and Hawaiian Holdings Inc (AMEX:HA). Investors took a long, hard look at Hawaiian Holdings Inc (AMEX:HA).
Quite a few short-sellers hold the opinion that the market is at a crossroads. Considering the uncertainty in the news these days in terms of inflation, it's amazing the broad markets didn't move lower. As a matter of fact, a trader may be wondering how come the market moved higher in the final hour anyway.
One commentator commented, " We're seeing a little pause here, but we're in the middle of a powerful uptrend, and traders should be looking at every dip in the market to find a new entry point." - Ken Tower, chief market strategist for Schwab's CyberTrader
Equities you need to add to your watchlist when trading resumes include Cisco Systems Inc (Nasdaq:CSCO), Applied Materials Inc (Nasdaq:AMAT), and Sirius Satellite Radio (Nasdaq:SIRI). Trading volume was quite strong those stocks. Investors should see the same type of trading for the next market session.
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