Today was treated as a "labor data anomaly" as the jobless claims finally broke under 600,000 for the week. The problem was that it was a holiday week and the continuing claims grew much larger. Warren Buffet gunning for a second stimulus package probably didn't help matters, nor did lower commodity prices based on economic fears. Here are the unofficial closing bell levels:Dow 8,183.17 +4.76 (0.06%)
S&P 500 882.68 +3.12 (0.35%)
Nasdaq 1,752.55 +5.38 (0.31%)
Top Analyst Upgrades
Top Analyst Downgrades
Alcoa Inc. (NYSE: AA) looked like it was going to be a help, but it ended up heading south despite the 'less-bad" earnings report on narrower than expected losses. Shares were down 2.75% at $9.20 ahead of the close.
Walgreen Co. (NYSE: WAG) was a disappointment considering that it hiked its quarterly dividend by some 22% to $0.1375 per quarter. Shares were down 1% at $29.43 late in the session.
Costco Wholesale Corporation (NASDAQ: COST) said that its June same store sales were down 6%, a sign that the upscale big box retailer is not in recovery yet. Shares were only down 1% at $45.50 late in the session.
Goldman Sachs Group Inc. (NYSE: GS) rose after BofA/Merrill raised the brokerage giant to a "Buy" on hopes that it would beat earnings expectations and see high returns on equity. Shares were up almost 4% at $143.80 before the close.
Citigroup Inc. (NYSE: C) announced a rather large management share-up. It is getting a new CFO, but not a new CEO as many are expecting will ultimately happen. Shares were up more than 2% at $2.68 late in the session.
General Electric Company (NYSE: GE) had a filing for its GE Capital to raise some $12 billion in a new note sale. Traders seemed to give it a pass as shares were up 1.3% at $10.85 late in the trading day.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
