1:00pm (EST) The bears took advantage of a weak housing report today and have crashed the earnings party the bulls were ready to have. The Commerce Department said applications for home building permits, a measure of future construction, fell in September by the largest amount in five months. Not a good signRead more
Housing Starts Drops Market
Bulls Ready to Run
9:00am (EST) MARKET COMMENTARY Futures are pointing towards a higher open this morning after reversing course overnight. There are a number of companies reporting earnings this morning as the bulk of 3Q reports get underway this week. Hasbro (HAS, $29.52) said it earned $150 million, or $0.99 a share, versus $138 million, or $0.89 aRead more
Dow Eyes 10,000
9:05am (EST) Futures are pointing towards a HUGE open this morning after strong earnings results from Intel (INTC, $20.49) and JPMorgan Chase (JPM, $45.66). JPMorgan Chase easily beat Wall Street’s expectations, after reporting a profit of $3.6 billion for the quarter. Although the company said loan losses are still high and are likelyRead more
Bears Are Growling
Nike Beats Estimates, Stock Up
9:00am (EST) Nike (NKE, $63.90, up $3.81) is up over 6% in pre-market trading after beating Wall Street’s estimates on Tuesday. For the quarter, the company earned $513 million, or $1.04 a share, versus $511 million, or $1.03 a share, in the year-ago period. Analysts were looking for Nike to earn 97 cents aRead more
Homes Sales Data Pulls Market Lower
1:10pm (EST) The market got off to a good start after the Labor Department reported the number of newly laid off workers seeking unemployment benefits fell for a third week in a row. Initial claims for unemployment insurance fell by 21,000 last week to 530,000, which was better than the 550,000 Wall Street had expected. TheRead more