The market is trading flat around 12:30 am EST on Wednesday. Nasdaq is down about 1, S&P500 is up about 2. The market opens up earlier, but the gains fade as the day goes. The advancers to decliners are 12 to 18 on the NYSE and 13 to 15 on Nasdaq. The up to down volumes are 3 to 2 on NYSE and 2 to 3 on Nasdaq. The market is still a little bit biased toward the down side. Even though the news of Conference Board's Consumer Confidence Index rose to 103.6 in December from a revised 98.3 in November, but it still can not catapult the market.
Stocks worth mentioning are:
(CELG), it is up about $2.6 around 12:30pm EST after the FDA approved its drug Revlimid, used to treat anemia. But the approval came later than expected, resulting in a lowered earnings outlook. Nevertheless, it is up because another news of the 2-for-1 stock split along with the FDA approval news. Volume is five times normal. A bullish sign for the stock.
(SPSS), a company the Computer Software-Enterprise group, is up almost $1. According to Yahoo Finance, it provides predictive analytics technology and services for research analysts and business users worldwide. It followed through after yesterday's breakout from flat base.
(SMTS), a medical device company is down about $1.75. The reason for down momentum because another competitor has gain FDA approval of its infrared spectroscopy device for use in measuring levels of brain tissue oxygen saturation. It is called the pressure from competitors.
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