Investors can expect another full plate of important earnings on Monday. Leading indicators and several T-bill auctions complete the economic release picture. Stocks plunged today after the SEC accused Wall Street heavyweight, Goldman Sachs of fraud in the Abacus CDO transaction. The allegations focused on supposed misstatement of facts. Financial shares led today’s sharp sell off. Even Mother Nature roared with the bears as a volcanic ash cloud disrupted airline transportation worldwide. The U.S. dollar was the beneficiary of the selling as capital sought the safety of the Greenback. The DJIA plunged 125.91, the tech heavy Nasdaq fell 34.43, and the S&P 500 gave back 19.54.
Special note: Please know that this is the final edition of TradingMarkets 7 Stocks You Need to Know. All our newsletters are being consolidated into a pair of exciting new products, the TradingMarkets High Probability Trading Weekly newsletter and the Ultimate PowerRatings Trading Weekly newsletter.
Here Are 7 Stocks You Need To Know For Monday.
^C^ is expecting to break even at an EPS of zero prior to the opening bell.
Controversial defense contractor, ^HAL^, has analysts awaiting a, before the bell, EPS of 25 cents.
Drug kingpin, ^LLY^, is looking at an EPS of $1.10 prior the 9:30 AM EST market opening.
Computer stalwart, ^IBM^, reports after the close with a forecast EPS of $1.93.
A 95 cent loss awaits investors in ^ZION^ after the closing bell.
^GS^ is vigorously defending itself from SEC CDO trade fraud allegations.
^BAC^ posted its first gains in three quarters on loan loss declines and investment banking.