Investors Cautious Ahead of Fed Meeting; Stocks Move Lower
The markets have moved lower off the open ahead of this
afternoon’s Fed meeting. Investors are remaining on the cautious side.
Toyota Motor
(
TM |
Quote |
Chart |
News |
PowerRating) posted a 9 percent rise in 4th
quarter profit. For the January to March period, Toyota became the world’s
top auto maker in terms of total world-wide vehicle production and sales,
overtaking General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) for the first time ever.Â
Homebuilder Toll Brothers
(
TOL |
Quote |
Chart |
News |
PowerRating) reported that
contracts fell 25% in the second quarter. Toll also lowered earnings
guidance for full year 2007.
Shares of mining stocks BHP Billiton
(
BHP |
Quote |
Chart |
News |
PowerRating) and
Rio Tinto
(
RTP |
Quote |
Chart |
News |
PowerRating) are trading higher on takeover speculation. Â
For more stocks
to watch, see
TradingMarkets 7 Trading Ideas for Today.
Our
PowerRatings Heat Map remains on the bearish side as the market continues to
hold near highs. Taking long positions at this point may hold more risk. The
weakest sectors today are Transportation, Metals/Mining, Manufacturing, and
Energy. The Drug sector has the most
high PowerRated stocks and also quite a few low PowerRated stocks. Let’s
take a closer look at the Drug sector:
Today’s featured
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
Reminder: We are in no
way recommending the purchase or short sale of these stocks. This article is
intended for education purposes only. Trading should be based on your own
understanding of market conditions, price patterns and risk; our information is
designed to contribute to your understanding.
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