10,000 Target Surpassed, Earnings Solid, Retail Beats

Traders celebrated the Dow Jones breaking above 10,000 today for the first time in a year. Driven by better than expected retail sales figures and solid earnings from several big names, stocks powered higher closing above the psychological barrier. A troubled employment situation and dismal housing market fears were placed on the back burner as the bulls stampeded once again. The DJIA closed up +144.80 to 10015.86, the tech heavy Nasdaq added +32.34 to 2172.23 and the broad based S&P 500 surged higher by +18.83 to 1092.02.

Tata Motors
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: Increased production of the Nano, the world’s cheapest car, by 20% pushing shares higher by 6.41% or 77 cents to $12.78.

Siemens AG
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: Climbed 5.18% or $5.07 to $102.87/share after obtaining a $135 million dollar contract for a U.S. clinic.

JP Morgan Chase
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: Crushed analysts profit estimates by 61% sending shares higher by 3.29% or $1.50 to $47.16/share.

Harley Davidson
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: The American biker icon was upgraded to “outperform” at Wells Fargo sending shares higher by 6.57% or $1.62 to $26.29.

Oil added $1.03 to $75.42, gold gave back 30 cents to $1065.00 and the VIX fear index fell 0.57% to 22.86.

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Market Snapshot

Dow

+144.80 10015.86

NASDAQ

+32.34 2172.23

S&P 500

+18.83 1092.02

Economic
News

Export Prices ex-ag. (Sep): Consensus: NA, Prior: 0.8%

Import Prices ex-oil (Sep): Consensus: NA, Prior: 0.4%

Retail Sales (Sep): Consensus: -2.1%, Prior: 2.7%

Retail Sales ex-auto (Sep): Consensus: 0.2%, Prior: 1.1%

Business Inventories (Aug): Consensus: -0.9%, Prior: -1.0%

FOMC Minutes (Sep): Consensus: NA, Prior: NA

Initial Claims (10/10): Consensus: 525K, Prior: 521K

Continuing Claims (10/03): Consensus: 6060K, Prior: 6040K

Core CPI (Sep): Consensus: 0.1%, Prior: 0.1%

CPI (Sep): Consensus: 0.2%, Prior: 0.4%

Philadelphia Fed (Oct): Consensus: 12.3, Prior: 14.1

Crude Inventories (10/09): Consensus: NA, Prior: -0.98M

Net Long-Term TIC Flows (Aug): Consensus: NA, Prior: 15.3B

Capacity Utilization (Sep): Consensus: 69.7%, Prior: 69.6%

Industrial Production (Sep): Consensus: 0.1%, Prior: 0.8%

Mich Sentiment-Prel (Oct): Consensus: 73.5, Prior: 73.5