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Despite the stimulus package, despite $75 billion mortgage relief, and despite the markets holding in around the old key support levels from November, today was one of those days where you could have flipped a coin to give a verdict on how the day felt. The FOMC minutes were effectively a further economic warning and industrial production and capacity utilization were again a further disappointment. Ditto on weak housing. Here are today's unofficial closing bell levels:
Dow 7,555.63 +3.03 (0.04%)
S&P 500 788.41 -0.76 (-0.10%)
Nasdaq 1,467.97 -2.69 (-0.18%)
Top Analyst Upgrades & Downgrades
52-WEEK LOWS
McDonald's Corporation (NYSE: MCD) wasn't exactly blistering good news, but the company did hint that it hopes to add many many more stores in China. Some reports even hint at a doubling of its stores there. Shares were up 1.4% at $56.49 right before the close.
General Motors Corporation (NYSE: GM) was another disappointment as its plans really feels like more of the same. The 47,000 planned job cuts, the plant closures, the cutting of lines, and the other restructurings just didn't "WOW" anyone. That's why shares were off another 6% at $2.05 right before the close.
Johnson & Johnson (NYSE: JNJ) held up better than some may have guessed. This is likely an old trade now, but Warren Buffett cut his stake by more than half in the medical, health, and consumer products giant. Shares were down less than 0.25% right before the close.
General Electric Company (NYSE: GE) was up almost 1% at $10.90 shortly before the close after CEO Jeff Immelt relinquished his bonus. This may not be much more than a line-item to the company at this point, but it fits with the trend of everyone giving back their money for the greater good right now.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
