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FirstAlert(tm) Daily 10/26: Finding A Way Out Of This Mess
(FinancialWire.net Via Acquire Media NewsEdge) (Comment on this article at http://www.financialwire.net/2009/10/26/firstalerttm-daily-1026-finding-a-way-out-of-this-mess/)
- Commentary -
October 26, 2009 (FinancialWire) (By Genevieve Hawkins) -- Bulls took last week off despite better than expected earnings from the likes of Apple (NASDAQ: AAPL), but the market may rise belatedly in response to the strong showings.
Last week the Dow dropped 0.2%, while the S&P 500 slipped 0.7% and the Nasdaq decreased 0.1% as investors paused to reflect on growth so far. With so much information coming out during the next several days volatility may return as investors place their bets on what will happen next.
Market watchers will be keeping an eye on earnings reports from energy companies including Exxon Mobile and Chevron and telecommunications giant Verizon. The US Treasury auction of $123 billion in notes may trigger major movements on Wall Street. Now that China and Russia are finding ways to monetize US debt through infrastructure projects, the dollar may come out surprisingly strong. Thursday's GDP report is expected to show growth for the first time in a year, a positive sign that the Great Recession may finally be over.
The market should rise in response to good news, but Wall Street rarely moves in predictable directions. The treasury auction could sink an otherwise winning week ahead.
[Go to http://www.financialwire.net/?s=genevieve+hawkins to see more commentaries by Geneveive Hawkins.]
The FirstAlert(tm) "Money Index" is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ/AMEX 25 Most Actives and NYSE/NASDAQ/AMEX greatest Percentage Losers and Percentage Winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Go to http://www.financialwire.net/?s=%22%27Money+Index%27+Synopsis for all the most recent FirstAlert(tm) "Money Index" Synopses.
The FirstAlert(tm) Economics Calendar lists No Major Economic Releases Scheduled, Treasury auctions 3&6-month bills (11:30 a.m.), Treasury auctions 5-year TIPS (1 p.m.).
The FirstAlert(tm) Events Calendar showcases AMLN, ANX, HALO, ISIS at BIOCOM Investor Conference.
FirstAlert(tm) Website of the Day: http://www.cdc.gov/genomics/
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Today in History: The first Continental Congress adjourned in 1774. The Erie Canal opened in 1825, passing from Albany, New York to Lake Erie. The Gunfight at the O.K. Corral took place in 1881 at Tombstone, Arizona. The P-51 Mustang made its maiden flight in 1940. The Beatles were appointed Members of the Order of the British Empire (MBEs) in 1965. "Baby Fae" received a heart transplant from a baboon in 1984.
[FirstAlert(tm) was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend.]
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