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TradingMarkets just released a proprietary stock rating method called PowerRatings. This method ranks stocks 1-10 and the higher the rating, the greater the one-week historical gain has been.
PowerRatings were created by Cesar Alvarez, Director of Research for Connors Capital, LLC. Cesar looked back at more than 5.5 million trades between Jan 1, 1995 and Dec 1, 2005. The results are based on the average 5-day performance.
To find out more about PowerRatings click here.
Stocks are trading notably higher on Wednesday
, boosted by earnings from FedEx (PowerRating) (FDX | Quote | Chart | News | PowerRating) and M&A news before the open. All the major sectors are trading in positive territory.In today's economic news, the Mortgage Bankers Association reported a drop in loan applications (report). 3rd Quarter GDP was revised downward (report) and Crude Oil Inventories rose (report).
Treasuries are falling for the 3rd consecutive day after today's reports; meanwhile the US Dollar is rallying for the 3rd straight session. Crude Oil is trading lower after the unexpected rise in inventories.
Google (PowerRating) (GOOG | Quote | Chart | News | PowerRating) announced last night that it is to buy a 5% stake in AOL for $1 Bln, a wholly owned subsidiary of Time Warner (PowerRating) (TWX | Quote | Chart | News | PowerRating).
Seagate (PowerRating) (STX | Quote | Chart | News | PowerRating) agreed to acquire Maxtor (PowerRating) (MXO | Quote | Chart | News | PowerRating) for $1.9 Bln in stock (full story).
Allergran (PowerRating) (AGN | Quote | Chart | News | PowerRating) agreed to buy Inamed (PowerRating) (IMDC | Quote | Chart | News | PowerRating) for $3.2 Bln (full story).
For more stories as they happen, go to our Breaking News section.
| Dow | +94.86 | 10,900.41 |
| NASDAQ | +17.84 | 2240.26 |
| S&P 500 | +9.56 | 1269.18 |
| NYSE | NASDAQ | |
| Volume | 1,079,651,000 | 845,682,000 |
| Advances | 2232 | 1913 |
| Declines | 928 | 1004 |
| Up Volume | 773 | 545 |
| Down Volume | 212 | 242 |
| New Hi's | 84 | 56 |
| New Lo's | 75 | 39 |
|
Strongest Sectors |
Weakest Sectors |
| Disk Drive (DDX | Quote | Chart | News | PowerRating) | |
| Biotechnology (BTK | Quote | Chart | News | PowerRating) | |
| Airline (XAL | Quote | Chart | News | PowerRating) |
Mortgage Bankers Association's Weekly Market Index Drops 4%; Purchase Index Down 5.2%, Refinancing Index Down 1.6% (report).
Q3 GDP Revised Downward To 4.1% Growth Rate (report).
EIA: Crude Oil Inventories Up 1.3 Mln. Barrels, Gasoline Inventories Down 300,000 Barrels (report).
Ashton Dorkins
ashtond@tradingmarkets.com
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