The Kirk Report |
Better Than Expected Durable Goods Posted: 25 Mar 2009 06:03 AM PDT
In other headlines, there's confidence in China's economy, FedEx plays hardball over unionization, S&P lowers its ratings outlook for Berkshire Hathaway, and the Treasury's top candidate to run TARP drops out. Premarket gainers: TIBX, ACAS, FITB, TIVO, BAC, C, AIG, GE, CBG, BBI, ASML, LEA, CSUN, STX, PIR, SYMC, BCS, DTV, PALM, FIG, BIDU, E, CS, NXG, & BZH. Premarket losers: DRYS, SOLF, EGLE, ICO, EXM, AAUK, NUAN, JBL, AMB, IRE, AIB, ALV, RBN, TGP, MT, RIMM, CPN, EGY, MPEL, FAZ, SI, & STZ. At 10:AM we have the new home sales report and 30 minutes later the weekly oil inventories. At noon both the Fed's Yellen and Pianalto are scheduled to speak about the economy. Much like we've seen in recent weeks, focus will remain on Washington and its influence over the economy and markets. For example, to pay for Obama's budget (and healthcare objectives), the White House is on the hunt for new tax revenues. On Friday Obama will meet with several bank CEOs about their obligations. As for the market, holding above S&P 803 is still the key as overbought conditions remain. Have a wonderful Wednesday! |
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