No Holiday Cheer for the Dollar

11/22/06 - 05:03 PM EST

, GM , BJ , NKE , PSS , JCG , DELL , BRCD , CRAY , INTC , MCD  
Liz Rappaport

Also Wednesday, the University of Michigan revised its consumer sentiment survey to 92.1 from 92.3 previous and vs. expectations for an upward revision to 93.0.

Even with the flat returns on the major indices Wednesday, there were some dramatic moves in the market ahead of the Thanksgiving holiday, and symbolic ones at that. The retail sector heads into the shopping season with a set of strong gains.

Shares of J. Crew(JCG Quote - Cramer on JCG - Stock Picks) gained 14.6% on news the company beat earnings estimates. Payless Shoesource(PSS Quote - Cramer on PSS - Stock Picks) shares jumped 14.2% on news the company inked a deal with Exeter Brands Group, a division of Nike Brands(NKE Quote - Cramer on NKE - Stock Picks), to design athletic shoes. And, BJ's Wholesale Club's(BJ Quote - Cramer on BJ - Stock Picks) shares gained 9.89% on news the company's CEO Mike Wedge plans to step down.

On the flip side, shares of General Motors(GM Quote - Cramer on GM - Stock Picks) were under pressure Wednesday, closing down 4.7% on news that shareholder Kirk Kerkorian, head of Tracinda Corp., recently lowered his stake in GM to 7.4% from 9.9%.

GM's guardian angel may be stepping aside, but there is redemption in this pre-Thanksgiving tale even without Kerkorian or George Bailey getting involved. The dollar stepped back from the ledge and the stock market spent the bulk of another week not correcting. Happy Thanksgiving, Mr. Potter.

1 2 3 4
Next Page »
In keeping with TSC's editorial policy, Rappaport doesn't own or short individual stocks. She also doesn't invest in hedge funds or other private investment partnerships. She appreciates your feedback. Click here to send her an email.
Your Recent Quotes: Quote Up0 | Quote Down0
Dow S&P 500 NASDAQ
Oil*
Gold
10 Yr
0.00%
%
%
%
Data delayed 20 min
Free Newsletters from TheStreet

Cramer's Daily Booyah!
Highlights of Jim Cramer's videos
on TheStreet.com TV & his
"Mad Money" TV show.
Before the Bell
All the information you
need to position yourself
for the day ahead.
Submit
We respect your privacy.

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer’s latest picks now!