Stocks Sink, Oracle Misses, Treasuries Higher

The multi-day rally squealed to a stop today with the major indexes slipping slightly into negative territory by the close. Financial stocks led the decline with software maker Oracle missing earning estimates adding to the sell off. Treasuries rallied on a labor report indicating that the recovery may be slower than expected. The DJIA slipped -7.79 to 9783.92, the tech heavy Nasdaq dipped -6.40 to 2126.75 and the broad based S&P 500 fell -3.27 to 1065.49.

AMR Corp
(
AMR |
Quote |
Chart |
News |
PowerRating)
: The mother of American Airlines soared 19.73% or $1.45 to $8.80/share after the airline stated that it raised billions in cash and will expand its network.

Lockheed Martin
(
LMT |
Quote |
Chart |
News |
PowerRating)
: Climbed 4.46% or $3.40 to $79.56 upon learning that the company may profit with President Obama’s change of plans for a missile defense system.

Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating)
: Missed analysts estimates sending shares lower by 2.76% or 61 cents to $21.52.

Herman Miller
(
MLHR |
Quote |
Chart |
News |
PowerRating)
: The top of the line office chair maker dropped 8.83% or $1.69 to $17.46 after stating fiscal first quarter profit dropped.

Oil added 4 cent to $72.49, gold fell $6.70 to 1014.00 and the VIX fear index fell 0.17% to 23.65.

According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.

Market Snapshot

Dow

-7.79 9783.92

NASDAQ

-6.40 2126.75

S&P 500

-3.27 1065.49

Economic
News

Core PPI (Aug): Consensus: 0.1%, Prior: -0.1%

PPI (Aug): Consensus: 0.8%, Prior: -0.9%

Retail Sales (Aug): Consensus: 1.9%, Prior: -0.1%

Retail Sales ex-auto (Aug): Consensus: 0.4%, Prior: -0.6%

Empire Manufacturing (Sep): Consensus: 15.00, Prior: 12.08

Business Inventories (Jul): Consensus: -0.8%, Prior: -1.1%

Core CPI (Aug): Consensus: 0.1%, Prior: 0.1%

CPI (Aug): Consensus: 0.3%, Prior: 0.0%

Net Long-Term TIC Flows: Consensus: NA, Prior: -31.2B

Capacity Utilization (Aug): Consensus: 69.1%, Prior: 68.5%

Industrial Production (Aug): Consensus: 0.7%, Prior: 0.5%

Crude Inventories (09/11): Consensus: NA, Prior: -5.91M

Building Permits (Aug): Consensus: 596K, Prior: 564K

Housing Starts (Aug): Consensus: 580K, Prior: 581K

Initial Claims (09/12): Consensus: 555K, Prior: 550K

Continuing Claims (09/05): Consensus: 6114K, Prior: 6088K

Philadelphia Fed (Sep): Consensus: 8.0, Prior: 4.2