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Materials Stocks Slammed In Early Trading (X, AKS, FCX, AA)
Monday, July 12, 2010 - 10:33am | 130Stocks in the basic materials sector are getting slammed in early trading today. Steel names U.S. Steel (NYSE: X) and AK Steel (NYSE: AKS) are down 3.80% and 5.01%, respectively. Copper producer Freeport-McMoRan (NYSE: FCX) is down $1.98, or 3.00%, to $64.00 Aluminum maker Alcoa (NYSE: AA) is down...
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Stock Market News for July 12, 2010 - Market News
Monday, July 12, 2010 - 9:36am | 845US stocks moved up modestly last Friday, culminating in the best week for the market in almost one year. Results were bolstered by cautious optimism about upcoming second quarter earnings despite concern about the global economy. Certain analysts thereby imply that companies will be able to...
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WHAT’S ON TAP?
Sunday, July 11, 2010 - 3:19pm | 1622For the week of July 12th (in conjunction with Econoday): Earnings will take front stage this week as the Q2 season officially begins. Let’s take a look at what’s on tap: Monday – Alcoa (AA) officially kicks off the earnings season after the bell. Tuesday – Intel (INTC) reports after the...
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Market turns on a dime last week -- now, fundamentals will rule
Sunday, July 11, 2010 - 9:16am | 1206The market turned on a dime this week. Pundits struggled to find a decent reason. An increase in the IMF's GDP forecast for 2010 was modest, a drop in weekly jobless claims was welcome but still modest, retail sales reports for June were mixed (though industry experts say June is generally weak so...
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Is The Risk-Trade Back On? (CAT, AA, FCX)
Saturday, July 10, 2010 - 2:17pm | 211The Dow Jones Industrial Average (DJI) just completed its best week in nearly a year, surging 511 points, or 5.33%. Optimism about second quarter profits and a less pessimistic view of global growth helped drive stocks higher despite an absence of fresh economic data. So, with stocks surging, is...
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Investors Bearish About Health Care Sector: Alcoa Retains Buy Rating (AA)
Friday, July 9, 2010 - 3:00pm | 113According to a survey conducted by Citigroup, investor sentiment is at an all-time low for the health care sector. This is partly due to European Union price cuts and health care reforms. Investors are expecting EPS to spiral downward and prices to fall. However, taking a contrarian view, Citi’s...
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US Stock Futures Indicate Troubled Day For Broader Market
Friday, July 9, 2010 - 8:25am | 261US stock-index futures seesawed between gains and losses today, indicating a troubled day for broader market after a three-day rally. While futures on Dow Jones Industrial Average lost 7 points, those on S&P 500 added a half point to 1,067.50. Meanwhile, Nasdaq 100 futures slipped a quarter...
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Trading Plan for July 9, 2010
Friday, July 9, 2010 - 7:44am | 249Current Long Positions (stop-losses in parentheses): QQQQ (Hedge) Current Short Positions (stop-losses in parentheses): ESV (42.84), MR (33.39), SPY (109.07), NUS (27.59) BIAS: Neutral Economic Reports Due Out (Times are EST): Wholesale Trade (10am) My Observations and What to Expect:...
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Stocks To Watch For July 8 (GBX, NUHC, EMC, AA)
Thursday, July 8, 2010 - 7:09am | 197Some of the stocks that may grab investor focus today are: Wall Street expects The Greenbrier Companies (NYSE: GBX) to post Q3 loss at $0.01 per share. GBX’s shares surged 7.47% to close at $10.79 yesterday. Analysts are expecting Nu Horizons Electronics Corp (NASDAQ: NUHC) to have earned $0.06 per...
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I Love This Game 07-07-2010
Wednesday, July 7, 2010 - 6:23pm | 714Cusick’s Corner The market held its ground, something the shorts have conceded at this stage. The day ended with the SPX breaking its second point of resistance 1053. For this to have strength, any pullback here needs to garner more support and get more of the sideline money involved to strengthen...
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Stock Market News for July 7, 2010 - Market News
Wednesday, July 7, 2010 - 10:13am | 583Selective buying helped propel stocks higher Tuesday after seven days of losses, but the advance was tepid as concerns about the durability of the economic recovery kept sentiments jittery. After recording hefty gains in the morning, markets slipped into the red in the afternoon as traders,...
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Top Performing Industries For July 6 (HIT, PALG.OB, FFIV, CENX)
Tuesday, July 6, 2010 - 2:51pm | 202At 12:21 pm, the Dow gained 1.31% to 9,813.63, the broader Standard & Poor's 500 index moved up 1.46% to 1,037.46 and the NASDAQ composite index rose 1.52% to 2,123.61. The industries that are faring well in the market today are: Electronic Equipment: This industry jumped 5.73% by 12:21 pm. The...
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Is Alcoa a Buy Ahead of Earnings? (AA)
Tuesday, July 6, 2010 - 1:20pm | 246Alcoa Inc. (NYSE: AA) is set to kick off the earnings season next week with its report after the bell, July 12th. The stock has been drifting lower, along with the overall market, over the past three months, down from $15.00 to its current trade price of $10.25. That is a sell off of nearly 32%;...
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Back To Flash Crash 1,040 (SPX, AA, TIF)
Tuesday, July 6, 2010 - 10:40am | 184With today's rally the S&P 500 (SPX) is up 17 points, or 1.68%, to 1,039.80. Let's round-up and make it an even 1,040, which is conveniently the "Flash Crash" low of May and the low of early June. The market appears to have found a resistance point. However, things are perhaps better than they...
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Stock Market News for July 6, 2010 - Market News
Tuesday, July 6, 2010 - 9:36am | 389A disappointing monthly jobs report sent stocks lower on Friday, with the Dow Jones industrial average recording its seventh straight-session decline. Consumer discretionary and financial shares led the declining issues on recovery-related worries. Although the unemployment rate dipped to 9.5%,...