Chrysler Crushed, MasterCard Mashed, Stocks Climb

  • May 1, 2009
  • David Goodboy

Despite a crushingly poor sales report from the near dead automaker, Chrysler and credit card giant MasterCard missing estimates, stocks closed solidly higher. Optimistic economic reports readily counteracted the stock mashing negative company news. The DJIA wrapped up a super April positively, ending the day up +44.29 to 8212.41, the Nasdaq eased ahead by +1.90 to 1719.20 and the S&P 500 advanced +4.71 to 877.52.

Cott Corp
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MasterCard
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Tree.com
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Washington Post
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Oil added $2.08 to $52.69, Gold slipped another $3.00 to $888.20 and the fear index VIX gave back 3.29% to 35.30.

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Market Snapshot

Dow

 +44.29 8212.41

NASDAQ

 +1.90 1719.20

S&P 500

 +4.71 877.52

Economic
News

Consumer Confidence (Apr): Consensus: 28.8, Prior: 26.0

S&P/CaseShiller Home Price Index (Feb): Consensus: -18.8%, Prior: -18.97%

GDP-Adv. (Q1): Consensus: -4.9%, Prior: -6.3%

Chain Deflator-Adv. (Q1): Consensus: 1.7%, Prior: 0.5%

Crude Inventories (04/24): Consensus: NA, Prior: +3857K

FOMC Rate Decision: Consensus: NA, Prior: 0.00%-0.25%

Initial Claims (04/25): Consensus: NA, Prior: 640K

Personal Income (Mar): Consensus: -0.2%, Prior: -0.2%

Personal Spending (Mar): Consensus: -0.1%, Prior: -0.2%

Employment Cost Index (Q1): Consensus: 0.5%, Prior: 0.5%

Chicago PMI (Apr): Consensus: 34.0, Prior: 31.4

Mich Sentiment-Rev (Apr): Consensus: 61.5, Prior: 61.9

Factory Orders (Mar): Consensus: -0.7%, Prior: 1.8%

ISM Index (Apr): Consensus: 38.0, Prior: 36.3

Auto Sales (Apr): Consensus: NA, Prior: 3.3M

Truck Sales (Apr): Consensus: NA, Prior: 3.8M