Posted Jul 2nd 2009 4:15PM by Jon Ogg
Filed under: Amer Intl Group (AIG)
Some days you know you have a winner, and some days you know you have a loser. Just like the
loss of 473,000 jobs to 9.5% unemployment in June, today started as a losing day and ended up as a losing day. It feels as though the "lagging indicator" aspect of employment may lead us into a new
leg-down in the recession. At least there was some bit of good news: bond yields came down.
Here were today's closing bell levels:
Dow 8,306.21 -197.85 (-2.33%)
S&P 500 898.88 -24.45 (-2.65%)
Nasdaq 1,798.12 -47.60 (-2.58%)
Top Analyst Upgrades and DowngradesContinue reading Closing Bell: When the unemployed govern the markets (AIG, DSCO, FSLR, TIVO)
Posted Jul 1st 2009 4:05PM by Jon Ogg
Filed under: Amer Intl Group (AIG), Rite Aid Corp (RAD)
Stocks opened up on the day and stayed up on the day, despite closing well off of the highs. We had three key economic reports hit at once as the Institute for Supply Management gave the June ISM Manufacturing data, while we saw pending home sales data and new construction spending data mixed for May. These actually
ended up being contradictory numbers, and then the
oil inventories did nothing to support higher oil prices.
Here were today's unofficial closing bell levels:
Dow 8,504.06 +57.06 (0.68%)
S&P 500 923.33 +4.01 (0.44%)
Nasdaq 1,845.72 +10.68 (0.58%)
Top Analyst Upgrades & DowngradesContinue reading Closing Bell: Kicking off Q3 with a win (AIG, BIIB, LDK, PIR, RAD)
Posted Jun 30th 2009 4:00PM by Jon Ogg
Filed under: After the bell, General Electric (GE), Market matters, Broadcom Corp'A' (BRCM)
This morning's trading was looking solid enough and had enough overseas support with gains in Europe that it seemed as though we were going to have a rock solid end to one of the best performing quarters in years.
The Russell trade and the quarter-end failed to help. A
quiet ISM-prelude from Chicago Purchasing Managers was one thing, but a weak consumer confidence took the wind out of the sails of the bulls. The good news is that shares managed to close off their lows, but it still wasn't an up day. Here were today's unofficial closing bell levels:
Dow 8,448.06 -81.32 (-0.95%)
S&P 500 919.47 -7.76 (-0.84%)
Nasdaq 1,835.04 -9.02 (-0.49%)
Top Analyst UpgradesTop Analyst DowngradesContinue reading Closing Bell: The great day that could have been... (APOL, BRCM, ELX, GE, GERN, VICL)
Posted Jun 29th 2009 4:00PM by Jon Ogg
Filed under: Sirius Satellite Radio (SIRI), Berkshire Hathaway (BRK.A), Blockbuster Inc 'A' (BBI), SLM Corp (SLM)
Despite us being on the heels of the big Russell indexes changing and despite the quarter-end being a day away, this was a boring day. A study showed a small
decrease in online job advertisements, but that was the only item on the economic front. Oil traded higher and bond yields came down as traders are voting for more stability the rest of the year there.
Here are today's unofficial closing bell levels:
Dow 8,531.19 +92.80 (1.10%)
S&P 500 927.18 +8.28 (0.90%)
Nasdaq 1,843.34 +5.12 (0.28%)
Top Analyst CallsContinue reading Closing Bell: A quiet day that didn't look quiet (BRK.A, BBI, SLM, SIRI, SWI, STT)
Posted Jun 26th 2009 4:00PM by Jon Ogg
Filed under: General Electric (GE), NIKE, Inc'B' (NKE), Palm Inc (PALM), Potash Corp. of Saskatchewan (POT)
The market was lower most of the day after the Commerce Department reported that consumers were saving a lot more than they were spending. Frankly, after yesterday's big gains today could have sold off much more and there would have been little concern.
Here are today's unofficial closing bell levels:
Dow 8,433.78 -38.62 (-0.46%)
S&P 500 918.48 -1.78 (-0.19%)
Nasdaq 1,838.22 +8.68 (0.47%)
Continue reading Closing Bell: When a loss is a win (GE, PALM, POT, NKE, MU)
Posted Jun 25th 2009 4:10PM by Jon Ogg
Filed under: Yahoo! (YHOO), Sirius Satellite Radio (SIRI), Boeing Co (BA), Boston Scientific (BSX), NIKE, Inc'B' (NKE)
Today was not just a strange day in the market. It was nearly baffling. At least it was a strange day if you were looking for the pullbacks to continue. The market was looking lower as the double-dip jobless numbers got worse than expected again, despite final Q1 GDP revisions being less-bad. The quarter-end coming up and the Russell re-balance may have some impact here.
Most of the gains continued throughout the morning into the early afternoon as investors got more confident over Ben Bernanke's testimony strength. Here were the unofficial closing bell levels:
Dow 8,475.57 +175.71 (2.12%)
S&P 500 920.28 +19.34 (2.15%)
Nasdaq 1,829.43 +37.09 (2.07%)
Top 10 Analyst CallsContinue reading Closing Bell: Bernanke credibility helps run the bulls (BA, BSX, FSLR, NKE, SIRI, YHOO, INSM)
Posted Jun 24th 2009 4:00PM by Jon Ogg
Filed under: Boeing Co (BA), Goldman Sachs Group (GS), Morgan Stanley (MS), Oracle Corp (ORCL)
The FOMC decision to keep rates at near-zero and
risk inflation ahead did little to spur any excitement from equity traders. Or maybe that was just an excuse to sell after
Warren Buffett said there are no green shoots out there.
This was on the heels of a
solid durable goods number and on the heels of
weak new home sales. It seems that news is just an excuse to pare down positions now in case we get that solid pullback so many traders were hoping for. Here are today's closing bell levels:
Dow 8,299.86 -23.05 (-0.28%)
S&P 500 900.92 +5.82 (0.65%)
Nasdaq 1,792.34 +27.42 (1.55%)
Top 10 Analyst CallsContinue reading Closing Bell: Another day of excuses to sell (BA, GS, MS, MGM, ORCL, SPEX
Posted Jun 23rd 2009 4:10PM by Jon Ogg
Filed under: Motorola (MOT), Sirius Satellite Radio (SIRI), Boeing Co (BA), Boston Scientific (BSX), ConocoPhillips (COP)
Equities stabilized today after two relatively large selling waves in equities. It even looks like we only had a 1% trading range in the DJIA from top to bottom today. The housing data might have helped marginally, but that was
actually negative data if you dig down into the numbers.
The hope for a return to growth is starting to see a bit of what may be reality setting in now that even Mr. Obama expects double-digit unemployment to become a reality. It seems that the rise in oil actually helped to keep equities higher. Here are today's closing bell levels:
Dow 8,322.46 -16.55 (-0.20%)
S&P 500 894.99 +1.95 (0.22%)
Nasdaq 1,764.92 -1.27 (-0.07%)
Top upgrades and downgradesContinue reading Closing Bell: They just don't stay down long (BA, BSX, COP, MOT, SIRI)
Posted Jun 22nd 2009 4:00PM by Jon Ogg
Filed under: Live coverage, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Wal-Mart (WMT), Sirius Satellite Radio (SIRI), ETF Investing, Marvell Technology Group (MRVL), Suntech Power Hldgs ADS (STP)
Today was one of those market days where you just felt like the stock market was headed lower no matter what. A report from the World Bank showing lower recovery is expected in 2009 and in 2010 did not help. It took the sails out of the commodity sector and therefore out of stocks.
With little economic data to center on, traders just continued the momentum of selling to take profits. We are also seeing a reversal here where now the market needs great news to rally.
Here are today's closing bell levels:
Dow 8,339.01 -200.72 (-2.35%)
S&P 500 893.04 -28.19 (-3.06%)
Nasdaq 1,766.19 -61.28 (-3.35%)
Top 10 Analyst Calls Continue reading Closing Bell: Can't run, and can't hide (AAPL, DIA, SPY, MRVL, MSFT, STP, SIRI, WMT, YHOO)
Posted Jun 19th 2009 4:00PM by Jon Ogg
Filed under: Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Research in Motion (RIMM), E*TRADE (ETFC)
Today was one of those strange days where stocks were gapping up on overseas market strength, but little domestic news. There were no economic numbers today, and the group in focus today was all the technology news.
Here are today's unofficial closing bell levels:
Dow 8,539.73 -15.87 (-0.19%)
S&P 500 921.23 +2.86 (0.31%)
Nasdaq 1,827.47 +19.75 (1.09%)
Top Analyst Upgrades & DowngradesContinue reading Closing Bell: stocks mixed on overseas news, minimal domestic headlines (AAPL, BIDU, GOOG, ETFC, MSFT, RIMM)
Posted Jun 18th 2009 4:00PM by Jon Ogg
Filed under: Berkshire Hathaway (BRK.A), Bank of America (BAC), Carnival Corp (CCL), SLM Corp (SLM), SanDisk Corp (SNDK)
Today was one of those low news flow days where you never had any real solid feel for where the market would close until the very end of the session. We have seen too many rallies dashed by closing imbalances at the end of the day when there was thin volume.
Some Philly Fed data helped hold the market, and that was on the heels of the
largest drop in continuing jobless claims since 2001. Some of the agriculture stocks
staged a small comeback after yesterday's huge losses.
Here were the unofficial closing bell levels:
Dow 8,554.77 +57.59 (0.68%)
S&P 500 918.34 +7.63 (0.84%)
Nasdaq 1,807.72 -0.34 (-0.02%)
Top Analyst UpgradesTop Analyst DowngradesContinue reading Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP)
Posted Jun 17th 2009 4:10PM by Jon Ogg
Filed under: Cisco Systems (CSCO), Adobe Systems (ADBE), FedEx Corp (FDX), E*TRADE (ETFC)
Today had all the earmarks in line for another solid day of sell-offs, yet the markets held ground considering the tone this morning. The good news was low inflation, the
lowest in over 50 years.
But agriculture stocks were hammered on overseas competitive news about
weak pricing and demand. Then came a
banking downgrade from the S&P playing catch-up. Despite the mixed performance at the end of the day, this felt like a win. Here are the unofficial closing bell levels:
DJIA: 8,497.18 (-7.49)
S&P 500: 910. 71 (-1.26)
NASDAQ: 1,808.06 (+11.88)
Top Analyst CallsContinue reading Closing Bell: A win or a head-scratcher? (CSCO, ADBE, BIDU, SVNT, ETFC, FDX, STSI, YGE)
Posted Jun 16th 2009 4:00PM by Jon Ogg
Filed under: Best Buy (BBY), Research in Motion (RIMM), News Corp'B' (NWS), Amgen Inc (AMGN)
The green shoots are getting harder to keep pumping up as it seems that Wall Street is starting to demand some visible improvements rather than the continued notion of just "less-bad" data. The
weak manufacturing data today makes it look like the factories are taking a European summer vacation.
The good news is that
producer inflation has not yet started working itself into the system, based on PPI data. The housing starts looked unbelievably better than estimates, but that was
due to apartment projects rather than single-family activity.
Here were today's unofficial closing bell levels:
DJIA
S&P500
NASDAQ
Top Analyst CallsContinue reading Closing Bell: Sentiment shifts to 'show me!' (AMGN, BBY, MTXX, NWS, RIMM)
Posted Jun 15th 2009 4:00PM by Jon Ogg
Filed under: Yahoo! (YHOO), Wal-Mart (WMT), Bank of America (BAC), Amgen Inc (AMGN)
Today was a negative market from the start of trading, and the economic data just confirmed the selling, as hunting for green shoots looked more like hunting for four-leaf clovers. It seems that those analysts and economists saying that the market has risen too far and too fast are getting some more ears than in recent weeks.
The
housing data showed a dip after two months of rising data, and the New York Empire Manufacturing data
came in weaker than expected. Even the
Iran turmoil after the election failed to rally oil. Here were today's unofficial closing bell levels:
Dow 8,613.04 -186.22 (-2.12%)
S&P 500 923.81 -22.40 (-2.37%)
Nasdaq 1,816.38 -42.42 (-2.28%)
Top 10 Analyst CallsContinue reading Closing Bell: Rally reality check (AMGN, BAC, SVNT, WMT, YHOO)
Posted Jun 11th 2009 4:10PM by Jon Ogg
Filed under: Pfizer (PFE), Bank of America (BAC), QUALCOMM Inc (QCOM), E*TRADE (ETFC)
Today marked intra-day 2009 for the S&P 500 and NASDAQ, although these might not have closed on the highs for the year. Also that won't be known until the formal 4:30-ish closing reset adjustment. This came on the heels of slightly
less-bad jobs data and on some
confusing retail gains. Unlike earlier Treasury auctions, today's 30-year Treasury Bond auction was a help to the markets as yields reached a high enough level that investors jumped in. Here are today's unofficial closing bell levels:
Dow 8,770.92 +31.90 (0.37%)
S&P 500 944.88 +5.73 (0.61%)
Nasdaq 1,862.37 +9.29 (0.50%)
Top Analyst UpgradesTop Analyst DowngradesContinue reading Closing Bell: When 2009 highs are under-covered (BAC, ETFC, MYL, PFE, QCOM, STAA)
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