Down stocks on last day of the year

Gloomy day, stocks down on last day of the year. Dow declined 101 but decliners only beat advancers by 20%. NAZ slipped 22. New 52 week NYSE lows dominated news for me, over 264 on the list. Because I don't type well, here are a few symbols of stocks I recognize on the list: C, WM, F, BAC, CC, AMD, S, WB, WYE, MAT, LIZ, ANN, VFC, and on & on. This includes banks & retailers plus clothing, drugs, cell phone providers. Groups I follow saw financials up, REIT's down while junk bond funds muddled along.

Dow started at about 12½ & ended about 700 (or .7) points higher. As said last time, the second half saw a bumpy ride. Tomorrow I'll try to get in a review of the year

Stocks closing 2007 on a down note

Stocks pulled back on the last day of 2007. Volume is light but decliners outnumber advancers 2-1. A lot of NYSE stocks are hitting new lows:

new highs 24
new lows 223

On the new lows list look for: Citigroup (C), Washington Mutual (WM), Macy's (M), Ann Taylor (ANN), etc. Banking & retail remains very weak.

The Dow had a great first half, but after reaching new highs early in the second half of 2007 flattened. For much of the last 6 months it has been kicking around the mid 13s, going nowhere. It probably will continue this pattern (at best) into 2008.

Markets mixed following negative housing news

Stocks were essentialy even, little changed & advancers equaled decliners. Negative housing news continues. That took minds off sluggish retail sales & credit crunch worries.

For the month, Dow is trying to eak out a gain. It's slightly under water. Mon, the last day, will determine the outcome in what will be the worst quarter in a few years. Have a good weekend.

New home sales plunge in Nov

Stocks started out on an up tone but are holding about even, although advancers are ahead of decliners 2-1. New home sales declined 9% last month to the lowest level in 12 years. Gas prices are back to $3 a gallon & forecasted to go up 10-20% by spring. Crude oil is over 97 & the Treasury bond yield declined to 4.10% as bond prices rose. Trading in stocks remains light, chances are stocks may slip by the close. The new year will be starting with a bunch of grim statistics, something to think about.

I'm adding graphics. On the right is market data on DIA (it emulates the Dow Jones Industrials) & stocks I follow, statistics supplied by SeekingAlpha. In addition, on the street I was given a copy of the Wall Street Journal. To check their website, click on their name.

Markets decline on Bhutto assassination & durable goods orders

Stock markets pulled back on negative international news & weak durable orders data. Dow declined 192, decliners outnumbered advancers more than 3-1 while NAZ was down 48. Treasury bond yields declined 8 basis point to 4.20% (bonds found many buyers). Banks & REIT's sold off while MLPs held about even after their nice run up in recent days.

The early buzz on retail sales is pretty ugly. They're talking about the worst season in 5 years. Just looking at ads in the papers, the stores appear to be pressing hard for sales gains spelling lower margins on sales. Housing remains in a slump & the mortgage mess continues. Citigroup (C) is widely expected to cut their dividend to keep more cash on the balance sheet. This month the Dow is struggling to record a gain. Today it's touch & go.

Stocks decline after Benazir Bhutto Assassination in Pakistan

The assassination of Bhutto in Pakistan brought out sellers today. Dow is down 139, decliners are ahead of advancers almost 3-1 and NAZ is down 31. The killing raises concerns about oil, a lot comes from this part of the world. Oil is up 1.16 to 97.13 & the Treasury bond rose (flight to safety) reducing it's yield from 4.29 to 4.23%. Not helping was the report for durable goods, up only 0.1% (below expectations of a 2.2% figure).

Banks & REITs were weak among the many losses. The MLP index pulled back 2 points to 300 after a big run up in the last few days. Volume continues low. Tax loss selling for individuals is over, one good thing in this market.

Little movement in stocks, but plenty of retail worries

Stocks hardly moved in very light trading, many investors & traders were away on holiday. Dow was essentially even with advancers equaling decliners, but NAZ was up 10. Tech looked good today. Target (TGT) & Macy's (M) declined by more than 1 each. Retail sales were not strong & margins look to be weak, investors worry final numbers may not be pretty. The next 3 days should feature light volume. Junk bond funds & REIT's pulled back while MLPs were up (less affected by tax loss selling). At least tax loss selling should be over although year end portfolio adjustments (i.e. selling) is an unknown always out there.

Poor retail sales, stocks pull back

Stocks declined on poor retail sales. Dow is down 40, decliners ahead of advancers 3-2 and NAZ is down 9. Retail sales came in sluggish at best, pretty much in line with expectations. Target (TGT) announced it expects lower same store sales in Dec, down 1.45. Another big retailer, Macy's (M) was off 1.67. Master Card said holiday spending rose a modest 3.6%. Not good. Repayment of credit card debt has slipped in recent months. The home mortgage mess continues. And oil is back over $95. But volume continues light as many are away.