The Big Chill
More evidence of a cooling economy has stocks working their way higher in
Thursday trading. Durable goods orders fell 12.4% in July, which was much
greater than the 7.7% drop that analysts had expected.
Some economists are even beginning to speculate when the Fed may actually have to cut rates as the economy continues to slow due to the effects of the past six rate hikes.
The Dow futures are up 20 points, and the Nasdaq futures are up 18.50 points.
The S&Ps look to open up 1.60 points while the yield on the 10-year
Treasury is flat at 5.70%.
Thursday Morning
3 Com spin-off Palm
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following favorable comments from Goldman Sachs. Palm closed Wednesday down 3/4
to 37 15/16 and is trading up to 40 3/4 in pre-market activity.
Krispy Kreme Doughnuts
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per share, and that trounced First Call/Thomson Financial estimates of 18 cents
per share. After closing Wednesday up 3/8 to 63 3/8, Krispy Kreme is trading up
to 67 in pre-market activity.
Networkers look solid in early action, with Juniper Networks
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indicating a positive open. Juniper closed Wednesday at 186 7/8 and is trading
up to 189 9/16 in pre-market activity.
From Wednesday
Online retail giant Amazon
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Greenlight.com to sell cars online, and that sent shares of Amazon up 2 5/16 to
38 13/16 in trading Wednesday. Amazon is up slightly Thursday and is trading at
39 3/4 in pre-market activity.
Intel
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Wednesday, and both are working their way higher Thursday. Sun closed Wednesday
at 74 5/8 and is trading up to 75 1/4 in early trade, and Intel is trading up to
75 after closing at 74 5/8 on Wednesday.