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MarketWatch.com December gets off to a strong start
by ShepWave.com
Posted: 1/1/2006 14:26 EST

Dow jumps 106 points; gold ends above $500

By Mark Cotton, MarketWatch
Last Update: 4:41 PM ET Dec. 1, 2005 [ Page 1 | 2 ]

NEW YORK (MarketWatch) -- U.S. stocks closed sharply higher Thursday as a raft of inflation-friendly data sparked a rally in technology shares and handed the Dow Jones Industrial Average its first triple-digit gain in more than a month.

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U.S. stocks end higher; Dow jumps 106 pts

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Metals prices also kept up their bullish pace, and gold closed above $500, a feat not seen since 1987.

The Dow ($INDU:

Dow Jones Industrial Average

News, chart, profile

Last: 10,911.69+105.82+0.98%
3:52pm 12/01/2005

$INDU10,911.69, +105.82, +1.0%) rose 106.70 points, or 1%, to 10,912.57, its first gain of more than 100 points since Oct. 28.

The Nasdaq Composite Index ($COMPQ:

Nasdaq Composite Index

News, chart, profile

Last: 2,266.48+33.66+1.51%
3:52pm 12/01/2005

$COMPQ2,266.48, +33.66, +1.5%) climbed 34.35 points, or 1.5%, to 2,267.17. The tech-rich index put in its best one-day performance in six weeks.

The S&P 500 Index ($SPX:

S&P 500 Index

News, chart, profile

Last: 1,264.64+15.16+1.21%
3:52pm 12/01/2005

$SPX1,264.64, +15.16, +1.2%) tacked on 15.19 points to close at 1,264.67.

"You seem to be getting this period where growth is coming through, but it isn't aggravating inflation and thereby long-bond yields," said Jim Paulsen, chief investment officer at Wells Capital Management. "For the stock market, there's not a lot that can be better than that."

Among components of the Dow, McDonald's (MCD:

McDonald's Corporation

News, chart, profile

Last: 35.13+1.28+3.78%
3:32pm 12/01/2005

MCD35.13, +1.28, +3.8%) rallied to a 5 1/2-year high of $35.38 as investors bet that higher personal incomes and consumer spending will bode well for the fast-food giant. See full story.

Alcoa (AA:

alcoa inc com

News, chart, profile

Last: 28.39+0.98+3.58%
3:32pm 12/01/2005

AA28.39, +0.98, +3.6%) climbed as much as 3.2% to $28.28 amid a broad rally in metals.

3:37pm 12/01/2005

INTC27.24, +0.56, +2.1%) rose 1.9% to $27.18 after analysts at Bear Stearns said the company likely will raise its fourth-quarter revenue outlook when it provides a midquarter update on Dec. 8. That helped semiconductor stocks ($SOX:

phlx semiconductor index sox

News, chart, profile

Last: 501.35+19.71+4.09%
3:52pm 12/01/2005

$SOX501.35, +19.71, +4.1%) put in their best one-day gain in nearly 10 months, surging more than 4%. See full story.

Not all was happy within the Dow component stocks. Wal-Mart (WMT:

Wal-Mart Stores, Inc.

News, chart, profile

Last: 48.06-0.50-1.03%
3:32pm 12/01/2005

WMT48.06, -0.50, -1.0%) fell as much as 2.1% to $47.53 after the discount retailer said it expects December same-store sales in the range of 2% to 4%, which is a narrower forecast range than its November target of 3% to 5% same-store sales growth. See full story.

On the broader market for equities, advancers outpaced decliners by more than three to one on the New York Stock Exchange and by more than two to one on the Nasdaq.

Energy ($XOI:

amex oil index

News, chart, profile

Last: 1,005.51+33.10+3.40%
3:52pm 12/01/2005

$XOI1,005.51, +33.10, +3.4%) and oil services stocks ($OSX:

phlx euro style oil svc index osx

News, chart, profile

Last: 183.54+5.77+3.25%
3:52pm 12/01/2005

$OSX183.54, +5.77, +3.2%) also rallied strongly.

Volume was heavy with 1.86 billion shares traded on the Big Board, while 1.52 billion were exchanged on the Nasdaq.

On a historical basis, investors can look forward to further gains in December after a solid performance in November.

On average, the Dow industrials has gained 1.8% in December since 1950, according to the Stock Trader's Almanac. The Nasdaq Composite has risen 2.1% while the S&P 500 has gained 1.7%.

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http://www.marketwatch.com/news/story.asp?guid=%7B7674ACA2%2D2720%2D48AD%2D8056%2DA53DDE6806EC%7D&siteid=mktw&dist=

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Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA.

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