SAN FRANCISCO (AFX) - US stocks, which have climbed recently thanks to falling oil prices, encouraging economic data and healthy corporate profit reports, are likely to keep pressing higher this week as positive factors dominate, strategists said.
They said that, barring an unforeseen destabilizing event such as a sudden and steep fall in the US dollar, a spike in the price of oil or terrorist attack, equities are likely to keep making modest gains for the rest of the year.
"Barring any major event risks and with energy being relatively stable, I think the market trades higher," said Jay Suskind, director of trading at Ryan Beck & Co. "Not a lot higher, but the glass is half full, not half empty."
While a steady decline in the dollar -- it hit a record low against the euro again on Friday -- and a disappointing November jobs report at the end of the week tempered some optimism among investors, strategists said that, for the time being, the positives and traditional end-of-year buying pressure will win out.
"We may at least temporarily have broken the back of oil prices and while the dollar is falling, it's falling slowly, so as long as that doesn't accelerate, it should not have too much effect," said Paul Nolte, director of investments at Hinsdale Associates. ..............................................Economists had been looking for stronger growth of about 204,000 in November, according to a survey conducted by CBS MarketWatch. None of the 42 economists surveyed forecast a figure as low as 112,000. "People are having second thoughts about what these job figures mean," said Michael Metz, chief investment strategist, at Oppenheimer & Co.
"They raise questions about how self-sustaining the economy is." Metz pointed to Wednesday's personal income and spending data for October, which showed that spending was outpacing wage rises.
"People are not saving anything and that's absolutely unsustainable and this figure indicates that unless we get more rapid job creation, the economy is just not going to maintain its momentum."

BRC to reveal November sales drop

LONDON (AFX) - The British Retail Consortium admitted UK high street sales were weak in November but described a press report claiming like-for-like sales fell by almost 1 pct on the month as "no more than an informed guess".
"It's no secret that November's been a tough month. A lot of retailers have found it very slow and the consumer's been cautious to spend," BRC spokesman David Southwell told AFX News.
He was speaking after the Sunday Times claimed the lobby group's closely watched monthly report tomorrow would reveal a 1 pct year-on-year decline in sales, the first drop in eleven months.
Southwell denied the report had been leaked to the paper, which did not cite its sources.
The report nonetheless looks set to heighten fears the UK retail sector is set for its worst Christmas in years.
The expected slide in November, which follows a modest 0.5 pct rise in October, will provide further evidence that consumers are tightening their belts after a series of five interest rate rises over the past 13 months.
A number of the country's leading high street retailers are believed to be pondering an early start to their winter sales in a desperate attempt to shift unwanted stock before Christmas.
Ailing retailer Marks & Spencer Group PLC last week cut prices by 20 pct for one day in an effort to boost flagging sales.
Woolworths and Debenhams are among other retailers to have held one-off 'spectaculars' in recent weeks.
Southwell confirmed that the BRC data will reveal retailers of so-called 'big ticket' items, such as electrical goods stores and furniture chains, were hardest hit in November.
Fashion retailers fared somewhat better, the Sunday Times said.

Nice one kayak.

RYANAIR DOWNGRADED TO 'HOLD' FROM 'BUY' BY DEUTSCHE BANK

BAT AND IMPERIAL TOBACCO DOWNGRADED TO 'HOLD' FROM 'BUY' BY DEUTSCHE BANK

MARKETS
Tokyo: Nikkei 10,981.96 down 92.93
Hang Seng 14,209.33 down 2.51

BREAKING NEWS - MONDAY
* DLA of the UK and Piper Rudnick of the US will today unveil a ground-breaking merger that will put it among the six biggest law firms in the world - FT
* BT could defy Ofcom controls if its ability to compete is curtailed - FT
* GLAXOSMITHKLINE to seek approval from US regulators for the first non-prescription anti-obesity treatment - FT
* INTERACTIVE PROSPECT TARGETING, an online direct marketing company, starts trading on AIM on Thursday after raising 4.5 mln stg in a placing - FT
* STAFFLINE RECRUITMENT floating this Wednesday, having successfully raised 7.3 mln stg through a placing at 80 pence a share - Express
* A national chain of five-a-side football centres, GOALS SOCCER CENTRES, joining AIM tomorrow - Express
* INDIA OUTSOURCING SERVICES makes its AIM debut today - Times
* A rearguard action being launched today by BAA to prevent the closure of the Gatwick Express - Independent
* MM02 to unveil faster downloads than 3G rivals - Guardian

MONDAY PRESS COMMENT
FT
THE LEX COLUMN comments on Japan/dollar, Mobile handsets, US coal
Independent
Small Talk: Michael Jivkov comments on SCI ENTERTAINMENT (today's annual results very unlikely to disappoint), DURLACHER ((not looking to raise new money), CAPE (is the building materials group a takeover target), INTERACTIVE PROSPECT TARGETING (AIM float Thursday), ZI MEDICAL (looks to be a risky proposition for investors), EGDON RESOURCES (expect it to move from Ofex to AIM within the next few weeks and raise some fresh cash on the way)

Morning punters!

HSM - profit warning accompanying interims
http://www.uk-wire.com/cgi-bin/articles/200412060700020045G.html

DSC - disposes property 1.25m over book value
http://www.uk-wire.com/cgi-bin/articles/200412060700030108G.html

VAN - update on contract with IBM/LLOY
http://www.uk-wire.com/cgi-bin/articles/200412060700040168G.html

SYM - court case ended. No judgement yet
http://www.uk-wire.com/cgi-bin/articles/200412060700050235G.html

DTM - acquisition
http://www.uk-wire.com/cgi-bin/articles/200412060700050248G.html

MGCR - trading statement got a bit of both. $ weighs
http://www.uk-wire.com/cgi-bin/articles/200412060700050251G.html

LAC - PE 46 on reduced interims? Hmm
http://www.uk-wire.com/cgi-bin/articles/200412060700060260G.html

SEG - nice set of FY
http://www.uk-wire.com/cgi-bin/articles/200412060700070262G.html

EDP - decent results
http://www.uk-wire.com/cgi-bin/articles/200412060700070274G.html

ACL - interims already in the price? Not the best outlook, though
http://www.uk-wire.com/cgi-bin/articles/200412060700080311G.html

FER - contracts
http://www.uk-wire.com/cgi-bin/articles/200412060700090312G.html

MPH - the Korean connection
http://www.uk-wire.com/cgi-bin/articles/200412060700090315G.html

ULE - nice trading update, methinks, and new contracts
http://www.uk-wire.com/cgi-bin/articles/200412060700100319G.html
http://www.uk-wire.com/cgi-bin/articles/200412060700100320G.html
http://www.uk-wire.com/cgi-bin/articles/200412060700120321G.html

CAR - turnaround continues?
http://www.uk-wire.com/cgi-bin/articles/200412060700100322G.html

JHD - AGM statement
http://www.uk-wire.com/cgi-bin/articles/200412060700120325G.html

MLB - result of trial
http://www.uk-wire.com/cgi-bin/articles/200412060700130332G.html

NIS - interims seem very good
http://www.uk-wire.com/cgi-bin/articles/200412060700150336G.html

SMIN - acquisition
http://www.uk-wire.com/cgi-bin/articles/200412060700160346G.html

GSD - increased losses, but bullish outlook. Price moved in anticipation last week
http://www.uk-wire.com/cgi-bin/articles/200412060700180351G.html

JRVS - disposal
http://www.uk-wire.com/cgi-bin/articles/200412060700200355G.html

DTK - new orders
http://www.uk-wire.com/cgi-bin/articles/200412060700260373G.html

MWLM - trading update doesn't sound too clever
http://www.uk-wire.com/cgi-bin/articles/200412060700270377G.html

CRG - trading update - hit by $ weakness
http://www.uk-wire.com/cgi-bin/articles/200412060730030310G.html

That's it, have a good day.

morning all

Morning all.

Morning

Good morning all.

A snatched "morning all".

Thanks Kayak, managed to read all of your "thoughts". An excellent read.

AVIVA DOWNGRADED TO 'IN-LINE' FROM 'OUTPERFORM' BY GOLDMAN SACHS

UK and European brokers' recommendations issued today, as collated by AFX News from a range of market sources.

ALTIUM SECURITIES
Downgrade Hold to add Dimension Data

JP MORGAN
Reiterate Overweight Delhaize, ups target to 64 eur from 58 -- Underweight FKI, cuts estimates -- Global Strategy: Positive on Equities over Bonds from 2005; Ups Consumer Discretionary sector to Overweight; Reiterate Overweight Late Cyclical Industries; Overweight US Equities and Japan -- Neutral ABB, cuts target to 6.4 sfr from 7.0

EVOLUTION
Reiterate Add Ottakar's, cuts target to 350 pence from 380

GOLDMAN SACHS
UK Insurers: Downgrade In-line from outperform Aviva; In-line L&G, cuts fair value to 115 pence from 120, reduces estimates -- Reiterate Underperform Bradford & Bingley, adjustes estimates -- Underperform Heineken, ups estimates -- Outperform Philips, cuts estimates -- In-line Reed Elsevier, adjust estimates -- Outperform TDC, adjusts estimates

INVESTEC
Downgrade Reduce from hold Rank Group, cuts estimates

UBS
Initiates Buy Intralot, target 21.5 eur -- Reiterate Buy SSAB, ups target to 175.5 skr from 160 -- Buy Kesa, ups target to 325 pence from 320 -- Neutral Publigroupe, cuts target to 350 sfr from 410 -- Buy Wolves & Dudley, ups target to 1,180 pence from 1,100 -- Neutral Cadbury Schweppes, target 465 pence, revises estimates -- Neutral Xstrata, target 925 pence, adjusts estimates --Swedish Banks: Downgrade Neutral from Buy SEB, target 135 skr, valuation call; Downgrade Neutral from buy Swedbank, target 140 skr valuation call -- European Banks: Top 10: Add Barclays and DnB Nor; Remove San Paolo IMI and Swedbank -- French, Dutch and UK Banks most attractive; Reiterate Neutral Deutsche Bank, ups target to 70 eur from 63, raises estimates; Upgrade Neutral from reduce Commerzbank, ups target to 16.0 eur from 14.25 -- Downgrade Neutral from buy British Land, ups target to 940 pence from 890 -- Downgrade Neutral from buy Zodiac, target 135 skr -- Downgrade Reduce from neutral Deutsche Post WorldNet -- -- Reiterate Buy OPAP, ups target to 22.0 eur from 18.7

NUMIS
Upgrade Add from hold Smiths Group, ups target to 820 pence from 775

WESTLB
European Insurers: Downgrade Neutral from outperform CNP, cuts target to 55 eur from 58; Reiterate Outperform Munich Re, ups target to 100 eur from 95; Outperform Aviva; ups target to 636 pence from 603; Neutral Scor, ups target to 145 eur from 143

DEUTSCHE BANK
Tobaccos: Downgrade hold from buy BAT; Downgrade Hold from buy Imperial Tobacco -- Downgrade Hold from buy Ryanair

SG SECURITIES
Downgrade Hold from buy Invensys, fair value 20 pence -- Downgrade Hold from buy Wendell Investissement, fair value 50 eur

NOMURA
Initiate Reduce Peugeot, fair value range 40-42 eur

CITIGROUP SMITH BARNEY
Downgrade Hold from buy Alfred McAlpine, target 290 pence -- Reiterate Hold Pillar Property, ups target to 730 pence from 700

DRESDNER KLEINWORT
Downgrade Sell from reduce H&M, target 185 skr; Reiterate Buy Inditex, target 25 eur

MORGAN STANLEY
Reiterate Overweight Autoliv, ups target to 51 usd from 45

CSFB
German Autos: Cuts estimates across the board on currency factors; Neutral Daimler-Chrysler, cuts target to 36 eur from 40; Outperform BMW, target 40 eur; Neutral VW, target 41 eur

MERRILL LYNCH
Reiterate Buy St Gobain, ups target to 52.0 eur from 50.5 -- Buy Anglo Irish Banks, ups target to 18.5 eur from 15.5 -- Buy Warner Estates, ups target to 550 pence from 500

LEHMAN
Telecom Equipment: Reiterate Equal-weight Nokia, target 12 eur, ups estimates

small short BLND 801.5 s/l on

thats it for me till 14.30 ,putting me christmas decorations up at the moment :-)

cant handle all this excitment today :-)

Kayak,forgot to say great post !!!

Mega...