Market this Friday 10/26

ron · #1 (**permalink**) 10-26-2007, 12:03 PM

Mrkt got a nice boost following Countrywide’s (CFC) third quarter earnings report. Countrywide posted a larger than expected third quarter loss, but has encouraged investors after it issued upside fourth quarter earnings guidance. Crude oil futures continue to rally and are currently up 1.3% to $91.61....Dow up 71 Points, Naz +40.61.

ron · #2 (**permalink**) 10-26-2007, 12:05 PM

Following Microsoft's (MSFT hod $36.03) strong earnings, it is no surprise that the tech sector (+2.1%) and Naz are outperforming. The energy (+1.4%) and financial (+1.2%) sectors are also providing leadership. Energy stock are up due to record high crude prices....Naz up 68.53 Points, Naz +41.23 rtq.

ron · #3 (**permalink**) 10-26-2007, 12:16 PM

bonds have managed to squeak back to unchanged on the session with assistance via a worse-than expected revision to UofM sentiment. While equities struggle in the face of conflicting signals in the financial sector (Countrywide positive Q4 guidance intermixed with a rumored CEO casualty at Merrill Lynch), the day is shaping up to be a push which may not be all that bad for bonds....Dow up 74 Points, Naz +41.87

ron · #4 (**permalink**) 10-26-2007, 12:33 PM

mrkt has had a slight pullback from their session highs. the heavily weighted financial sector (+0.3%) is playing a large role in the decline as it has slippd from its leadership position. consumer discretionary and industrial sectors are now trading slightly below the unchanged mark......Dow +63 Points, Naz +39.68 rtq.

ron · #5 (**permalink**) 10-26-2007, 01:00 PM

mrkt continues to trade in a choppy manner, but still holds healthy gains. The tech sector (+2.2%) is providing leadership.....dow up 38.81 Points, Naz +31.11 rtq.