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Metals Reverse Early Gains (X, AA, FCX)
Tuesday, May 18, 2010 - 4:00pm | 135Shares of economically-sensitive metals stocks have reversed early gains and are now sitting on sharp losses. Commodities were up this morning as the euro strengthened. However, the euro reversed gains quickly and now sits on a fresh four-year low against the dollar. U.S. Steel (NYSE: X), which was...
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Stock Market News for May 18, 2010 - Market News
Tuesday, May 18, 2010 - 9:57am | 431U.S. stocks closed with marginal gains on Monday even as Europe’s debt malaise showed no signs of easing. The euro, meanwhile, rebounded from a four-year low against the U.S. dollar as traders picked up the battered currency. Investors were also concerned about how Europe will manage the fiscal...
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Consumer Stocks Led To Gains In The US Market Yesterday
Tuesday, May 18, 2010 - 5:16am | 283US stocks witnessed an upside yesterday, with the consumer stocks leading the gains. However, Eurozone worries kept investors away from the energy and materials firms and the industrial stocks that are dependent on global growth. While the Dow Jones Industrial Average spent most of the yesterday’s...
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Euro Weakness Continues 05-17-2010
Monday, May 17, 2010 - 3:10pm | 777Cusick’s Corner We need to build off of Friday’s discussion of the Euro. The viability of this currency is being tested (though not formally) in the market action this morning. The Euro is busting through the 1.235 level and making lows we have not seen in years. What is potentially more...
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Empire State Manufacturing Declines (CAT, AA)
Monday, May 17, 2010 - 10:32am | 95New York manufacturing activity showed a surprising decline in May. The New York Fed's "Empire State" general business conditions index fell to 19.11 in May from 31.86 in April. Analysts were looking for a reading of 30.00. Employment picked up for a fifth consecutive month, reaching its highest...
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Fading the S&P 500 Index (SPX)
Monday, May 17, 2010 - 10:10am | 1547One thing the S&P 500 Index (SPX) seems to have lacked of late is strong afternoon momentum. If you were to look at intraday charts of the SPX going back to late April (26th), you would see the index has favored weakness into the close (in the last 30 minutes of the trading day). In fact, about...
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US Stocks Tumbled Yesterday, Led By The Consumer-Discretionary Sector
Friday, May 14, 2010 - 5:13am | 273US stocks plunged yesterday in the wake of disappointing earnings guidance and results reported by the consumer-discretionary sector retailers Kohl's (NYSE: KSS) and Urban Outfitters (NASDAQ: URBN). Additionally, a positive outlook from Cisco Systems (NASDAQ: CSCO) could not revive investor...
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Aluminum Companies Rise On Chinese Power Tariff (AA, CENX, DJI)
Thursday, May 13, 2010 - 7:49pm | 200Alcoa (NYSE: AA) and Century Aluminum (NASDAQ: CENX) rose on heavy volume today on hopes that aluminum prices will rise in the near future. The catalyst was speculation that rises in Chinese electrical prices would reduce the global supply of the metal. Alcoa rose 34 cents, or 2.73%, to $12.80...
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Buyers Take a Breather 05-13-2010
Thursday, May 13, 2010 - 6:48pm | 683Cusick's Corner Reported jobless claims today did not fall as much as expected. Analysts would like to see the jobless claims fall faster because that would be a sign of more hiring on Main Street. So buyers were taking a breather today and the SPX failed to push through the 1173 level with...
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Thursday’s Market Roundup
Thursday, May 13, 2010 - 4:28pm | 291The overall market struggled to find direction most of the session before falling 1.21% to close at 1157, off 14.23 points. The S&P 500 (NYSE: SPY) closed very near its lows of the session. The sell off seemed to come after traders realized that there was neither enough volume, nor conviction...
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Watching SPX's 50-Day SMA 05-13-2010
Thursday, May 13, 2010 - 2:38pm | 797Cusick's Corner The latest weekly jobless claims were 444,000 while analysts were expecting 440,000 which was somewhat in-line with estimates. The market initially had a tepid response to the jobless news, traded relatively flat, but now drifting lower. I am keeping an eye on the SPX's 50-Day...
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Heavy Bull Action Seen in Alcoa
Thursday, May 13, 2010 - 12:33pm | 117Shares of Alcoa Inc. (NYSE: AA) are the leading stocks in the DJIA (NYSE: DIA) today, currently trading higher by 4.73% to $13.05. There is no news out on the stock that would/should illicit such a move. Options traders are also coming for upside in the name for a second day in a row. Yesterday,...
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Metals Shine (X, AA, AKS, CENX)
Thursday, May 13, 2010 - 10:50am | 153Some metals and mining companies that have been laggards in 2010 are getting a boost today after Goldman Sachs upgraded a company in the industry. U.S. Steel (NYSE: X) was added to the Conviction Buy list at Goldman Sachs this morning. The firm said global steel production has rebounded and the...
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Materials Lagging Today (SPX, VIX, AA, X)
Tuesday, May 11, 2010 - 1:54pm | 110Volatility is leaving the markets once again today as the market pushes to fresh afternoon highs. The S&P 500 (SPX) is up 10.15, or 0.88%, to 1,169. The CBOE Market Volatility Index (VIX) is down 2.95, or 10.23%, to 25.89. The S&P materials sector is underperforming the broader market with...
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Mad Money Lightning Round: Stick To CRM, Says Jim (TKLC, AA, CRM, F)
Monday, May 10, 2010 - 7:34am | 202In his "Mad Money Lightning Round" on Friday, Jim Cramer said that the Internet stocks such as Tekelec (NASDAQ: TKLC) are falling everyday and must be bought rather than sold at the moment. TKLC gained 0.82% to $14.71 in the after-hours session on Friday. Cramer believes Alcoa (NYSE: AA) will ‘...