Goldman Sachs was accused of fraud in the synthetic Abacus CDO transaction by the SEC. Financial shares plunged on the news leading the broad market sharply lower.
Investors can expect another full plate of important earnings on Monday. Leading indicators and several T-bill auctions complete the economic release picture. Citigroup is expecting to break even at an EPS of zero prior to the opening bell.
The forecast figure is 0.6% which is an increase from the last release of -0.2%. Read why David Goodboy thinks that this forecast is overly optimistic.
Google’s earnings apparently weren’t strong enough for investors as shares began to fall in after-hours trading. David Goodboy takes a look at this post-earnings sell-off. Plus, here are 3 top rated PowerRatings stocks traders need to know.
Stocks stretched higher for the sixth day in a row on strong earnings and merger/acquisition chatter. Even climbing unemployment claims could not completely squelch the bulls.
Several true market monsters will be reporting earnings on the final trading session of the week, including Bank of America and General Electric. Housing starts and consumer sentiment will wrap up the day.
University of Michigan’s Preliminary Consumer Sentiment report will be released on Friday. Provided the domestic job situation and the current roaring bull market, how will the number fair?
Is this the the launch pad of the super bull market? Here’s David Goodboy’s take, plus 3 top PowerRatings stocks worthy of your attention.
The bulls took over Wall Street on this middle trading day of the week. A bear crushing rally ensued on strong results from JP Morgan Chase and Intel. Even the weak employment situation was counteracted by positive retail sales and production figures.
The world is anxiously awaiting Google’s earnings release Thursday after the close. Traders will also be greeted by jobless claims, industrial production, and the Philly Fed Survey.