Market this Wed 10/31

ron · #1 (**permalink**) 10-31-2007, 10:57 AM

positive start as the market awaits the FOMC policy statement at 14:15 ET. Kraft (KFT) and Clorox (CLX) topped their earnings expectations and provided reassuring guidance. Meanwhile, Dell restated its results for fiscal 2003 to fiscal 2007.

ron · #2 (**permalink**) 10-31-2007, 10:59 AM

Third Quarter GDP rose to an annualized rate of 3.9%, consensus estimate of 3.1%while the Employment Cost Index came in at 0.8%. Separately, MasterCard (MA) and NewmontMining (NEM) topped its earnings estimates....Dow continues in the green printing +32 Point, Naz +9.85.

ron · #3 (**permalink**) 10-31-2007, 11:30 AM

major indices remain in positive territory following optimistic economic data prompting all ten economic sectors in the green. The financial (+0.5%) and tech (+0.6%) sectors are providing leadership in the early-going.....Dow up +50 Points, Naz +11.84 rtq.

ron · #4 (**permalink**) 10-31-2007, 11:47 AM

Strength across the globe this morning with leadership in Europe coming from Belgium (EWK +1.2%) and Italy (EWI +1% new 3 month high). Asia is slightly outperforming led by South Korea (EWY +2% high 74.05, Monday's 52-wk peak is at 74.34), China Fund (CHN +1.2%), Singapore (EWS +1.1% has edged back after gap higher start). Strength from the Americas has been led by Brazil (EWZ +1.4% session high 84.73, Monday's/52-wk high at 84.73), Latin America (ILF +1.3% high 266.19, Monday/52-wk high at 268.26).

ron · #5 (**permalink**) 10-31-2007, 11:49 AM

The October Chicago PMI, a regional manufacturer survey, slipped to 49.7. Economists were expecting the number to come in at 53.0. September's reading was 54.2. A number below 50 indicates a decline in manufacturing.....Dow continues maintaining its close to 50 Points in gains for 13,842 while Naz up 14.55 to 2,831 rtq.