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Today's markets started out strong and got stronger. If you were a conspiracy theorist you might even make a crack noting that Wall Street had already seen the dovish FOMC comments which signaled that rate hikes are not a certainty until after the election. Throw in a substantial drop in oil to new recent lows of under $119.00 per barrel, and the rest is all gravy.
Here are today's unofficial closing bell levels:
D.J.I.A. 11,615 (+331)
S&P500 1,283.28 (+34)
NASDAQ 2,347.36 (+62)
10YR T-NOTE 4.007% (+0.035%)
52-Week Lows
Top Analyst Downgrades
Top Analyst Upgrades
Archer-Daniels Midland Company (NYSE: ADM) saw shares down over 5% in today's final minutes. Despite the stock being close to new fresh lows, traders were very unenthusiastic after the company missed earnings expectations.
Lehman Brothers Holdings, Inc. (NYSE: LEH) was up over 13% at $20.30 in today's final minutes as talks continue circling that the company will raise more cash via unit sales.
The Procter & Gamble Company (NYSE: PG) saw shares up over 3% in today's final minutes after the company beat earnings and gave in-line guidance ahead.
Sirius Satellite Radio (NASDAQ: SIRI) was only up about 3% to $1.42 in today's final minutes, but shares had been up over 7% after Mel Karmazin had purchased 2 million shares yesterday.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
8-05-2008 @ 9:36PM
Kent said...
If stock prices of all companies associated with a certain industry such as the automotive one, you can pretty well accept the trend. But, Archer Daniels Midland doesn't make sense, when commodity prices are at all time high at least several weeks ago; no specific reasons were given. I looked up their competitor, Bunge & Co., and noted that their profit increased about 25% in the last quarter. Some due diligence questions might be in order if I were their shareholder.