Thursday Morning Coffee with TradingMarkets
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Good Morning! |
Dow Chemical to Acquire Rohm & Haas for $18.8 Billion … Optimism Grows Toward Steelmakers … Tax Rebates Boost June Retail Sales …Will the BoE Raise Rates in Q3? … Boeing v.s. Northrop Grumman, Part 2 … The S&P 500 Sings the Bear Market Blues … Dollar Higher Against Euro and Yen …
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TradingMarkets 5 Business Stories You Need to Know |
Steelmakers Rally on Analyst “Undervalued” Call – CNN Money
Higher prices for spot-steel have encouraged analysts to look favorably on the steel sector. U.S. Steel in particular was cited by one UBS analyst for outperformance in the group.
U.S. Steel is the Featured Stock in our TradingMarkets Up or Down Stock Contest. You have until 4 p.m. EST today to tell us whether U.S. Steel will be Up or Down on Friday. Click here to register for free for your chance to win $1,000 by correctly guessing the direction of a stock!
Rebates and Retail – Bloomberg
Both Wal-Mart and Costco reported higher than expected June sales as consumers used tax rebates to take advantage of discounted prices for both clothing and food.
A Frozen Pound in Q3? – DailyFX
DailyFX currency analyst Terri Belkas weighs in on the likelihood of the Bank of England raising its benchmark rate early in the second half of the year. With David Song.
Boeing Wins Second Chance – Wall Street Journal
The Department of Defense announced on Wednesday that Boeing would get a second chance at a $35 billion contract it lost to rival Northrop Grumman.
S&P 500 “Officially” a Bear Market – Financial Times
A 20% drop from the October highs puts the S&P 500 in bear market territory for the first time since 2002. Will a bounce, or further lows, come next?
For more stories as they happen, go to our Breaking News section.
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
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Northwest Airlines
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PowerRating) announced on Wednesday that they would eliminate up to 2,500 jobs and begin charging passengers for all checked luggage. The stock was down by more than 15%. - Analysts at UBS and Merrill Lynch suspect that the slowing economy is likely to impact the earnings of technology companies such as Cisco
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PowerRating) and Intel
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PowerRating) respectively. Both stocks closed lower by more than 5% on Wednesday. - Boeing
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PowerRating) will get another shot at the $35 billion tanker deal with the Air Force, according to the Department of Defense. Boeing closed down slightly, but off its intraday highs. - Texas Industries
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PowerRating) reports earnings Thursday morning before the bell, with analysts expecting EPS of $0.82. The stock was down more than 4% on Wednesday. - Fannie Mae
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PowerRating) was forced to pay record yield spreads by buyers of its 2-year notes who were concerned about the mortgage giant’s capacity to survive the crisis in the housing market. Fannie Mae closed lower by more than 13%. - U.S. Steel
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PowerRating) led steel stocks higher on Wednesday. Steel stocks as a group moved higher after a UBS analyst said the sector was “undervalued.” U.S. Steel closed up by more than 5%, but significantly off its intraday highs.
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 PowerRatings Stocks for Today |
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Company
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Symbol | PowerRatings |
| Lincoln Electric Holdings | LECO | 9 |
| Patterson Energy | PTEN | 9 |
| Rackable Systems Inc. | RACK | 9 |
| Marvell Technology Group Ltd. | MRVL | 8 |
| Actel Corporation | ACTL | 8 |
| View More Stocks |
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TradingMarkets Making Great Traders |
Kevin Haggerty Explains It All – TradingMarkets
Come join Kevin Haggerty, professional traders and former head of the Fidelity Capital Markets trading desk, as he breaks down the current market and shows where traders can find opportunity amidst the volatility. You can catch Kevin live at TradingMarkets at 12:30 p.m. EST today by clicking the headline above to reserve your spot now.
Gauging the Direction of the Market – TradingMarkets
Which way is up? TradingMarkets contributor Kunal Vakil shares 12 different factors traders should be aware of when trying to decipher the market’s next move.
3 Funds to Help You Battle the Bears – TradingMarkets
TradingMarkets contributor Toni Turner reminds traders and investors alike of the virtues of exchange-traded funds when markets turn south.
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