Stocks close at their highs for the week. A strong afternoon move in the Oils accompanied the earlier push in Tech stocks. It seems that sellers have all turned the other way and are now long. Obviously mutual funds are being sucked in as they do not want to be seen as the only fund that did not make money this year.
Dow +166 to 11644
Nas +47 to 2667
S&P +20 to 1224
Have a nice weekend everybody. Hopefully we can continue this rally next week.
Friday, October 14, 2011
At 3:30 pm...
Stocks are holding on to gains...as it looks like funds are putting money to work. Even banks have started to join the party.
Dow +121
Nas +37
S&P +16 to 1219
We continue to sit just below the 1220 mark on the S&P.
Dow +121
Nas +37
S&P +16 to 1219
We continue to sit just below the 1220 mark on the S&P.
Today's Upgrades and Downgrades...
These are some of this Friday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.
Baker Hughes Inc. (NYSE: BHI) Cut to Market Perform at BMO.
Beam Inc. (NYSE: BEAM) Started as Hold at Argus.
Boeing Co. (NYSE: BA) Cut to Perform at Oppenheimer.
Cisco Systems Inc. (NASDAQ: CSCO) Started as Buy at IS Group.
Ecolab Inc. (NYSE: ECL) Cut to Neutral at Citigroup.
FXCM Inc. (NYSE: FXCM) Cut to Sell at Citigroup.
Gap Inc. (NYSE: GPS) Cut to Market Perform at Wells Fargo.
General Electric Co. (NYSE: GE) Started as Overweight at Barclays.
Hewlett-Packard Co. (NYSE: HPQ) Started as Buy at ISI Group.
International Business Machines Corporation (NYSE: IBM) Started as Outperform at Macquarie.
Interactive Brokers Group (NASDAQ: IBKR) Raised to Outperform as Bull of the Day at Zacks.
ITT Corporation (NYSE: ITT) Started as Equal-Weight at Barclays.
Kinder Morgan Energy Partners (NYSE: KMP) Started as Neutral at JPMorgan.
Plains All American Pipeline (NYSE: PAA) Started as Overweight at JPMorgan.
TAL International Group, Inc. (NYSE: TAL) named Value stock of the day at Zacks.
Teradyne, Inc. (NYSE: TER) lowered target to $12 as Bear of the Day at Zacks.
Baker Hughes Inc. (NYSE: BHI) Cut to Market Perform at BMO.
Beam Inc. (NYSE: BEAM) Started as Hold at Argus.
Boeing Co. (NYSE: BA) Cut to Perform at Oppenheimer.
Cisco Systems Inc. (NASDAQ: CSCO) Started as Buy at IS Group.
Ecolab Inc. (NYSE: ECL) Cut to Neutral at Citigroup.
FXCM Inc. (NYSE: FXCM) Cut to Sell at Citigroup.
Gap Inc. (NYSE: GPS) Cut to Market Perform at Wells Fargo.
General Electric Co. (NYSE: GE) Started as Overweight at Barclays.
Hewlett-Packard Co. (NYSE: HPQ) Started as Buy at ISI Group.
International Business Machines Corporation (NYSE: IBM) Started as Outperform at Macquarie.
Interactive Brokers Group (NASDAQ: IBKR) Raised to Outperform as Bull of the Day at Zacks.
ITT Corporation (NYSE: ITT) Started as Equal-Weight at Barclays.
Kinder Morgan Energy Partners (NYSE: KMP) Started as Neutral at JPMorgan.
Plains All American Pipeline (NYSE: PAA) Started as Overweight at JPMorgan.
TAL International Group, Inc. (NYSE: TAL) named Value stock of the day at Zacks.
Teradyne, Inc. (NYSE: TER) lowered target to $12 as Bear of the Day at Zacks.
Xbox picking up market share...
Microsoft's (MSFT) Xbox 360 accounted for 42% of U.S. retail console sales in September, according to NPD, as the runaway success of its Kinect add-on bolsters demand. However, industry-wide hardware sales fell 9% Y/Y, as the major consoles show their age. Software sales rose 3%, fueled by strong demand for Electronic Arts' (ERTS) Madden NFL 12.
Noon Update....
Stocks are still higher but down off earlier levels.
Dow +77
Nas +21
S&P +10 to 1214
Apple and Google still leading the way for Technology. Banks are now lower and Gold and Silver are now flat.
Dow +77
Nas +21
S&P +10 to 1214
Apple and Google still leading the way for Technology. Banks are now lower and Gold and Silver are now flat.
Ford F-150 selling briskly...
Ford (F) says its Ford F-150 pickups equipped with six-cylinder EcoBoost engines are selling briskly, and will account for 45% of retail sales of the model moving forward. The EcoBoost engine falls in line with regulators' push for fuel efficiency, and offers consumers 18 mpg vs. 14-17 mpg on 8-cylinder models.
Tim Geitner says IMF can help Europe...
In an interview on CNBC this morning, Timothy Geithner says the IMF has "very substantial" available financial resources to fund a TARP-like device to help solve Europe's problems, while declining to give a specific number on what would be required. Economic data has been more encouraging recently, he adds, and concerns about a much weaker growth outcome have receded a bit.
Nice open...
Surprisingly positive earnings from Google is giving the entire market a lift.
Dow +118
Nas +36
S&P +16 to 1220
1220 on the S&P is that key level that technicians are paying attention to, looking for a breakout in stocks.
Leading the market:
Google +36.24 to 595.40
Apple +8.59 to 417.26
Amazon +5.35 to 241.68
IBM +1.32 to 188.24
Mastercard +7.71 to 343.70
Gold and Silver have been drifting higher even though the market has been moving higher. This seems to be a disconnect to why Gold and Silver were being bought in the first place...as a defensive move. Let's see if that relationship changes in the next few days.
Dow +118
Nas +36
S&P +16 to 1220
1220 on the S&P is that key level that technicians are paying attention to, looking for a breakout in stocks.
Leading the market:
Google +36.24 to 595.40
Apple +8.59 to 417.26
Amazon +5.35 to 241.68
IBM +1.32 to 188.24
Mastercard +7.71 to 343.70
Gold and Silver have been drifting higher even though the market has been moving higher. This seems to be a disconnect to why Gold and Silver were being bought in the first place...as a defensive move. Let's see if that relationship changes in the next few days.
iPhone 4S goes on sale today...
Apple Inc. (AAPL). The company’s latest iPhone went on sale in stores across the globe, with fans snapping up the final gadget unveiled during Steve Jobs' lifetime, many buying the phone as a tribute to the former Apple boss. Separately, a U.S. judge said that Samsung Electronic's Galaxy tablets infringe Apple Inc's iPad patents, but added that Apple has a problem establishing the validity of its patents in the latest courtroom face-off between the technology giants.
Good Morning...
Though Wall Street's major averages are coming off a mixed session Thursday, they remain on pace for their best weekly gains in four weeks, and the fourth biggest weekly gains of 2011. The Nasdaq Composite is currently riding a four-day winning streak and is up for seven of the past eight sessions.
We'll get the University of Michigan's preliminary consumer sentiment reading for October at 9:55am ET, expected to edge higher to 60.0 from September's final number of 59.4.
Google (GOOG) leads our list of stocks to watch this morning, after blowing past expectations with its latest quarterly earnings.
Google is up more than 8% premarket.
Apple (AAPL) will be high on the watch list once again today, as the iPhone 4S makes its debut in stores.
Financials could see some downward action today, as Fitch downgrades UBS (UBS) and puts others such as Morgan Stanley (MS) and Goldman Sachs (GS) on review.
We'll get the University of Michigan's preliminary consumer sentiment reading for October at 9:55am ET, expected to edge higher to 60.0 from September's final number of 59.4.
Google (GOOG) leads our list of stocks to watch this morning, after blowing past expectations with its latest quarterly earnings.
Google is up more than 8% premarket.
Apple (AAPL) will be high on the watch list once again today, as the iPhone 4S makes its debut in stores.
Financials could see some downward action today, as Fitch downgrades UBS (UBS) and puts others such as Morgan Stanley (MS) and Goldman Sachs (GS) on review.
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