Inflation Jumps, Stocks Approach Low, Hewlett-Packard Disappoints
Stocks approached their November lows triggered by a disappointing profit forecast from Hewlett-Packard and a dramatic jump in wholesale inflation. The fear index VIX actually retreated providing a positive signal of stock stabilization despite the continued waves of dire news. The DJIA dropped -89.68 to 7465.95, just 16 points above the lows. The Nasdaq gave back -25.15 to 1442.82 and the broad based S&P 500 dipped -9.48 to 778.94.
CVS Caremark
(
CVS |
Quote |
Chart |
News |
PowerRating) – Climbed 6.37% or $1.72 to $28.71/share after turning in 4th quarter earnings beating analysts estimates by 1 cent.
GameStop
(
GME |
Quote |
Chart |
News |
PowerRating) – Forecast earnings beating analysts projections triggering a rise of 7.08% or $1.76 to $26.63/share.
Priceline.com PCLN|PCLN] – Traveled up 16.61% or $11.42 to $80.16/share after stating it would beat analysts estimates for first quarter profit potentially by 19%.
Reliance Steel
(
RS |
Quote |
Chart |
News |
PowerRating) – Soared 19.89% or $4.17 to $25.14/share after crushing analysts 4th quarter earning estimates.
Oil climbed $4.86 to $38.92, Gold slipped back $1.70 to $976.50 and the fear index VIX fell 2.85% to 47.08 despite the selling today.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|