Fed’s Beige Book Data Drags Markets Lower
Markets sell off in reaction to higher than expected
labor costs; Ford shares rise as Alan Mulally is named new CEO. Crude oil futures
close lower by over 1% to $67.70.
Tuesday’s
action on the Nasdaq index included a bearish VIX signal (explained below).Â
The VIX Index is the most widely used method to access stock market volatility
and is used along with with 15 other signals in our How Markets Really Work
service (click
here for more info). It will be interesting to see if last week’s
move up on low volume will hold through this week.
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>
Stocks on the
Move
Ford Motor Names Alan Mulally As CEO, Bill Ford
To Continue His Duties As Executive Chairman (full
story). F shares rally by nearly 2%.
GM Extends Powertrain Warranties For Its 2007
Vehicles (full
story). GM shares rise by 2.5%.
Intel To Cut 10,500 Jobs By Mid-2007 (full
story). INTC shares fall by over 2%. INTC shares drop 3.5%.
J2 Global Communications Affirms Q3 EPS Of
$0.29 To $0.30 (full
story). JCOM shares fall nearly 4%.
Hain Celestial Q4 Earnings Top Estimates,
Ex-items (full
story). HAIN shares rise by over 9%.
Fairchild Semiconductor Lifts Q3 Sales Forecast
On Healthy Seasonal Sales Level, Lower- Than- Expected Cancellation Rates (full
story). FCS shares fall nearly 1%.
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
width=”33%” height=16>
Dow
align=middle width=”33%” height=16>
-63.08
align=middle width=”34%” height=16>
11,406.20
width=”33%” height=16>
NASDAQ
align=middle width=”33%” height=16>
-37.86
align=middle width=”34%” height=16>
2,167.84
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S&P 500
align=middle width=”33%” height=17>
-12.99
align=middle width=”34%” height=17>
1,300.26
width=”33%” height=17>
align=middle width=”33%” height=17>
size=2>NYSE
align=middle width=”34%” height=17>
size=2>NASDAQ
width=”33%” height=17>
Volume
align=middle width=”33%” height=17>
2,276,641,000
align=middle width=”34%” height=17>
1,766,186,000
width=”33%” height=16>
Advances
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677
align=middle width=”34%” height=16>
751
width=”33%” height=17>
Declines
align=middle width=”33%” height=17>
2591
align=middle width=”34%” height=17>
2245
width=”33%” height=17>
Up Volume
align=middle width=”33%” height=17>
385
align=middle width=”34%” height=17>
165
width=”33%” height=17>
Down Volume
align=middle width=”33%” height=17>
1660
align=middle width=”34%” height=17>
1439
width=”33%” height=17>
New Hi’s
align=middle width=”33%” height=17>
65
align=middle width=”34%” height=17>
59
width=”33%” height=17>
New Lo’s
align=middle width=”33%” height=17>
27
align=middle width=”34%” height=17>
36
Strongest
Sectors
Weakest
Sectors
Index (MUT)
href=”https://tradingmarkets.com.site/news/Economic%20News/”>
Economic
News
Fed’s Beige Book Shows Slower Economic Growth In 5
Of 12 Regional Districts (full
story).
Service Sector Sees Faster Than Expected Growth In
August (full
story).
Q2 Productivity And Labor Cost Growth Revised Higher
(full
story).
Helvetica>
Darren Wong
darrenw@tradingmarkets.com
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Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
VIX
Alert-This Alert triggers when the VIX is 5% above or below its 10
day ma. 5% below usually precedes a quiet/down market. 5% above many times
precedes a short-term rally.
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