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RCH posts

Closing Bell: Economic data and deals power gains

Posted May 15th 2008 4:29PM by Jon Ogg (RSS feed)
Filed under: Intel (INTC), CBS Corp 'B' (CBS), EMC Corp (EMC)

The markets got some extra relief today as weekly jobless claims only rose by 6,000 to 371,000. The Philly Fed also showed that manufacturing contracted slower than expected as output fell by 0.7% in April. Below are the unofficial closing prices for major index levels:

DJIA 12,988.91 +90.53 +0.70%
S&P500 1,423.28 +14.62 +1.04%
NASDAQ 2,533.73 +37.03 +1.48%
10 Yr Bond(%) 3.8430% -0.0950
52-WEEK LOWS
TOP ANALYST CALLS

China Architectural Engineering, Inc. (AMEX: RCH) enjoyed another massive day as its stock rose another 23% to $10.17 late in the day based on construction, architecture, and engineering needs that will be necessary in China after that earthquake.

Continue reading Closing Bell: Economic data and deals power gains

Closing Bell: Good inflation data wins, but sellers lighten gains

Posted May 14th 2008 4:22PM by Jon Ogg (RSS feed)
Filed under: After the Bell, Earnings Reports, Market Matters, Whole Foods Market (WFMI), Economic Data, Deere and Co (DE)

Today's inflation report was the main reason for the rally as it looks like prices nominally are not getting much worse. But as I noted, that's true if you don't go to the gas station or grocery store. Home foreclosures rose yet again, and that may be something to get used to. Oil prices were down down $1.86 to $123.94 per barrel in after-hours trading. Here are the unofficial closing index levels:

DJIA 12,890.64 (+58.46; +0.46%)
S&P500 1,407.87 (+4.83; +0.34%)
NASDAQ 2,495.66 (+0.54; +0.02%)
10YR-TBond 3.938% (+0.029)
52-WEEK LOWS
10 ANALYST CALLS

China Architectural Engineering, Inc. (AMEX: RCH) saw another massive rise today based upon the Chinese earthquake. Shares were up 40% at $8.38 at the end of the day. Architecture, engineering, China, earthquake... what more did traders need to hear?

Deere & Co. (NYSE: DE) saw a sharp drop in shares after reporting earnings, and it pulled down other ag-stocks. The company said it was being impacted by tight part supplies and rising materials costs, and that sent shares tumbling 10% to $81.10 in the final minutes today.

Continue reading Closing Bell: Good inflation data wins, but sellers lighten gains