Today was a surprise considering the news. There was not great economic news to hang on, particularly considering that the 10.2% unemployment was the worst reading since 1983. As the market did not crater and as it went positive throughout the day, it almost felt as though the 10.2% of the officially unemployed don't matter to the economy as everyone keeps noting the 'lagging indicator' effect. Still, stocks held their own for most of the day and where the real direction for the end of the day bells felt uncertain until the end of the day. Here are today's unofficial closing bell levels:
Dow 10,023.19 +17.23 (0.17%)
S&P 500 1,069.30 +2.67 (0.25%)
Nasdaq 2,112.44 +7.12 (0.34%)
Top Analyst Calls
Top Stock Rumors
General Electric Company (NYSE: GE) was one of the bright spots after both Oppenheimer and Bernstein raised their official ratings to "Outperform" in research calls this morning.
Ancestry.com, Inc. (NASDAQ: ACOM) held its own today after its IPO debut. Shares were up 1.9% at $14.47 late in the day.
Fannie Mae (NYSE: FNM) had been down worse earlier after posting a huge loss and a request on its behalf for another $15 billion. Shares were down 8% at $1.03 late in the day.
ZIOPHARM Oncology (NYSE: ZIOP) presented additional data today at the 15th Annual Connective Tissue Oncology Society Meeting showing positive interim data for the Phase II trial of palifosfamide treating patients with unresectable or metastatic soft tissue sarcoma. Shares were up 10% at $3.43 late in the trading day.
Motorola Inc. (NYSE: MOT) was seeing profit taking ahead of the Android phone launch through Verizon. Shares were down almost 4% at $8.95 late in the day.
NVIDIA Corporation (NASDAQ: NVDA) provided very positive earnings with a 74% profit gain over last year and made $107.6 million in profit; and it even raised guidance. Shares were up 7% at $13.16 late in the trading day.
Why is gold marching higher? Ask the central bankers
Newspaper ad revenue of 28%, 8 quarters of double-digit drops
Closing Bell: Earnings working against stocks (BCRX, DELL, DHI, INTC, LEAP, PCS)
Reader Comments (Page 1 of 1)
11-06-2009 @ 7:29PM
MADDAT52 said...
All states with the power and inclination for immediate change should recall there out of control Washington representatives and replace them with ones that will govern for the people. If this is possible it should be a new movement started today. There isn't a single day to waist. Conservative Governors should take the lead.
11-07-2009 @ 1:55AM
visionary said...
You'd have to be an idiot to read that into todays NYSE performance. Must be a liberal trying to put a happy face on growing high unemployment. They do that you know.
11-07-2009 @ 8:58AM
eloise said...
Just keep nitpicking over silly brand names like liberal and neonuts while our jobs continue to be shipped overseas; that's why you're unemployed...at least some of you. We need to stop buying anything, where at all possible, that's not made in the USA for starters. We need to stop the silly bashing of these political parties because neither hears you. Just read that 44% off all of congress are millionaires, at least. You're not being heard because as a "consumer", yes that's your moniker, your job is to buy what's before you even tho the jobs that attach to the production of that item are being done for cheaper labor. Stop being distracted by your own silliness and organize. I'm ready to do whatever is necessary to have a standard of living continue on as I've known it. I'm not resigned to this b.s. and neither should any of us be. Just organize and circle the wagons against congress and any other body of institutions that are obstructing our ability to live high-quality, productive lives. It's our lives that we're fighting for and we cannot allow this power structure to diminish that. C'mon, we're powerful we just have to unite and stop the childish name-calling; it's a waste of precious time. These boards are set up to gauge the levels that we're operating upon as citizens. Get involved. This state of affairs is nothing new for many of us. You're just getting your initiation right now. You've got to adapt...the key to the survival of the species. Throw Obama, Limbaugh, Glen Beck and Pelosi out if they're not truly serving YOUR purpose. Sorry about the rant but I've just about had it up to here, dang blast it.