Tuesday, September 2, 2008

Oil Rebounds From Lows...Still Down...Stocks Pull Back...Still Up

10:54 ET DJIA +159...SPX +10...Nasdaq +20... RUT +3...SOX +4...Oil -$6.12 The broad indices have pulled back from their early morning highs as oil has rallied from its early morning lows. The small-cap RUT has had the largest pullback from early morning highs. All sectors except XLE -3.88% and XLB -1.31% are higher this morning. XLY, consumer discretionary, +2.92% is leading the way and XLF is up 1.03%. The five major airlines are up 9% to 13% this morning. Commodity related stocks; oil, coal, gold, steels and Ag are lower this morning with oil being down. Tuesday's Early Action Moving Up: PCLN, STRA, BIDU, AMZN, AAPL, DECK, RIMM, GS, ESRX, UAUA, IBM, NIHD, INFY, MS, WRC, CELG, LCC, LAMR, FMCN, KMT, NDAQ, PNRA, SINA Moving Down: FSLR, CF, BUCY, POT, X, ANR, MEE, MOS, CLF, DRYS, BTU, CNX, MON, SCHN, AGU, AEM, IPI, FWLT, GDX, LDK, MTL

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