The market bounced a little on Wednesday in the face of some pretty horrific economic news (Durable Goods and New Home Sales). And at the open on Thursday it extended the run after a mildly positive weekly Jobless Claims report. Yes, 473,000 new jobs lost is better than 495,000 expected. But it’s still above the average for the year, and the trend is headed in the wrong direction.
Now with all that said, the market is now see-sawing around the breakeven market. That is because tomorrow brings a triple header of important economic news that could move the market in either direction.
Long-term investors should consider putting some more insurance in their portfolio with these ETF’s, then look for places to get long again under 10,000. Your portfolio should have a healthy combo of conservative dividend plays like and aggressive growth picks with upside potential. Some current favorites include Joy Global (JOYG) and ReneSola (SOL).
Friday’s reports will have a lot of sway on the next move for the market. Get ready.
JOY GLOBAL INC (JOYG): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
Zacks Investment Research
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- GDP Revision: The initial read of Q2 GDP was +2.4%. Most are expecting a negative revision.
- Consumer Sentiment: The last read was an improvement over the past. Is that trend still in place?
- Bernanke Speaks: The recent Fed minutes were meant to calm the market. Bernanke & Co. wanted to give everyone the impression that if things get worse, then they are ready. But all investors read into that is “OMG - things are getting worse!” Now he has a chance to get the message right...will he?
Long-term investors should consider putting some more insurance in their portfolio with these ETF’s, then look for places to get long again under 10,000. Your portfolio should have a healthy combo of conservative dividend plays like and aggressive growth picks with upside potential. Some current favorites include Joy Global (JOYG) and ReneSola (SOL).
Friday’s reports will have a lot of sway on the next move for the market. Get ready.
JOY GLOBAL INC (JOYG): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
Zacks Investment Research
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