US Stock Market Close (JAN 5, 2007)

DJIA    12,398.01; Down 82.68 (0.66%)
Nasdaq    2,434.25; Down 19.18 (0.78%)
S&P 500    1,409.71; Down 8.63 (0.61%)
10YR-Bond   4.646%; Up 0.028
NYSE Volume    2,912,830,000
NASD Volume    2,028,547,000

Jobs numbers were strong with 167,000 new jobs and a 4.5% unemployment and wages were up 0.5%, so the Dollar rebounded as the chances of a rate cut by march all but disappeared.  Commodity prices also continied to slide.  Wasn’t everyone compalining about a low Dollar last month and complaining about high commodity prices?

Oil closed up $0.72 per barrel at NYMEX to $54.90, but that is afterthe price was down as low as $54.90.  Exxon (XOM) rose 0.7% to $73.22 and Oil Service HOLDRs (OIH) rose 0.5% to $130.75.

Best Buy (BBY) rose 0.3% to $50.00 after giving guidance that wasn’t as bad as last month.

Motorola (MOT) was the bomb of the day falling almost 8% to $18.94 after a revenue cut that will know out 1/3 of its earnings.

Nokia (NOK) saw its ADR’s fall 5% to $19.84 and Ericsson (ERIC) saw its ADR’s fall 1.5% to $40.93.

Yahoo! (YHOO) rose over 3% to $27.74 on hopes that it would sign a major content deal in india.

Level3 (LVLT) rose 6% in hopes that it would be Cramer’s Speculative Stock pick tonight, so we’ll have to see.

Dell (DELL) closed down 0.3% to $26.16 after JPMorgan downgraded that Neutral call to Underweight, although there wasn’t much new in the call.  Click here to see what we said about the call being old and the initial 2%drop being an overreaction.

Openwave (OPWV) fell another 5.7% to $8.93 as the company issued an earnings warning.

Flextronics (FLEX) rose 0.5%to $11.59 after the company was started as Buy at UBS.

XM Satellite (XMSR) rose 2% to $15.32 after reporting more than a total of 7 million subscribers by the end of 2006.

NYSE (NYX) saw its shares rise over 7% to $102.39 after Cramer noted it was his #1 Growth Pick for 2007.

Stay tuned for Cramer’s Top 3 speculative stock plays tonight.  Below are his picks from Wednesday and Thursday for Growth and Value Picks for 2007:
#1 growth pick is the New York Stock Exchange (NYSE).
#2 is Apple (AAPL).
#3  is Cisco Systems (CSCO).

If you want to read through to the top VALUE PICKS for 2007 that Cramer gave on Wednesday night, here is the list:

1) Altria (MO)
2) Goldman Sachs (GS)
3) Halliburton (HAL)

Jon C. Ogg
January 5, 2007