What To Look For After The Close…
Stocks are
flat with the dollar at a 3-month low against the Euro.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) and Ford Motors
(
F |
Quote |
Chart |
News |
PowerRating) are offering more
incentives after a double-digit drop in June vehicle sales. GM raised its cash
rebates for most of its SUVs to $5,000 with Ford upping $1,000 to $4,000 amid
rising oil prices and competition from Asian manufacturers.
New applications for mortgages
rose 19.5% the week ending 7/2, with the housing sector still strong despite
rising interest rates. Chain store sales rose 0.9% for the week ended July 3.
PeopleSoft
(
PSFT |
Quote |
Chart |
News |
PowerRating) warned it may miss earnings forecasts citing
disruptions from Oracle’s
(
ORCL |
Quote |
Chart |
News |
PowerRating) hostile takeover attempt. The
company expects earnings of 4 cents on revenue of $660 million. NetEase
(
NTES |
Quote |
Chart |
News |
PowerRating)
dropped after the company warned it may miss revenue expectations on lower
sales.
Yahoo!
(
YHOO |
Quote |
Chart |
News |
PowerRating), and
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) are expected to report earnings after the close today; the
Street is expecting EPS of 8 cents on revenue of $610 million for Yahoo and 47
cents for Alcoa.
| Dow | -0.54 | 10219.44 |
| S&P 500 | +0.14 | 1117.59 |
| Nasdaq | +3.85 | 1967.60 |
Strong today are: Gold and
Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +3.98%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +3.63%,
 Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating) +1.29%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.20%.
Weak today are: Internet
(
ECM.X |
Quote |
Chart |
News |
PowerRating) -1.50%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -0.80%.
10-year Notes are +40 at
110 165
The dollar
is -0.60 at 87.79
Gold is +9.90 at 402.90
Crude Oil is -0.46 at
39.19
Volume is 577 million on
the NYSE, and 886 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1903 | Up Vol 308 |
| Declining | 1143 | Down Vol 236 |
| Ratio | 1.70 | 1.31 |
| Nasdaq |
||
| Advancing | 1465 | Up Vol 439 |
| Declining | 1404 | Down Vol 402 |
| Ratio | 1.04 | 1.09 |
Top Dow stocks are:
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating), +1.49%,
American Express
(
AXP |
Quote |
Chart |
News |
PowerRating), +1.27%, McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating), +1.22%.
Hewlett Packard
(
HPQ |
Quote |
Chart |
News |
PowerRating) +1.15%.Â
Stocks in the news:
Secure Computing
(
SCUR |
Quote |
Chart |
News |
PowerRating) warned it may miss second-quarter forecasts as it now expects to
earn 5 cents a share on revenue of $22 million.
eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) was downgraded by
Prudential to Neutral on valuation and growth concerns.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) said it received
orders for 10 more 7E7 jetliners that could be worth as much as $1.2 billion.
Brice Wightman
bricew@tradingmarkets.com