Monday, June 22, 2009

The Kirk Report

The Kirk Report


Monday Headlines

Posted: 22 Jun 2009 05:49 AM PDT

Good morning. Premarket futures are pointing lower. Overall, news flow remains on the slow side as we start out the new trading week.

Top headlines include a lowered outlook for global growth by The World Bank, insiders exit U.S. stocks at fastest pace in two years, drug makers trim prices for health overhaul, unemployment in California jumped to 11.5% in May, and U.S. regulators closed three more banks.

In other headlines we have continued health concerns for Steve Jobs, US lodges China censorship complaint, the Fed weighs major changes to the repo markets, a couple of lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for new condo mortgages, Congress will take a second shot at the derivatives industry, and George Soros says worst of global crisis is behind us.

Premarket gainers: SUAI, MEDX, AAUK, BCON, EMKR, MRVL, AVII, NSU, LSI, MVIS, SIRI, TRA, & TNK.

Premarket losers: SWHC, JAZZ, ALVR, ESLR, CENX, SSRI, AHT, ATPG, ONNN, ACGY, ALU, DB, RTP, HMY, TLB, BJS, ZZ, STSI, MT, AXA, FRPT, KIRK, PAAS, SOLF, & RIMM.

Other the post options expiration activity, there are no economic reports scheduled for today and nothing of significance on today's calendar. Data will pick up tomorrow ahead of this week's Fed meeting. Much like last week, all eyes will be set again on Bethpage and the U.S. Open as they finish up the golf championship today.

Go make it a great Monday!

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