Markets January 10

ron · #1 (**permalink**) 01-10-2008, 11:06 AM

we are having a lower opening despite a better than expected initial claims report. " Initial jobless claims for the week ended Jan 5 came in at 322K, lower than the expected reading of 340K."..... December same-store sales have been worse than expected, although the largest retailers posted better than expected numbers. Their positive surprises include sales that topped estimates at Wal-Mart (WMT) and Costco (COST) also, Alcoa (AA) became the first Dow component to report Q4 results, beating on both the top and bottom lines..... The market will be paying close attention to Ben Bernanke’s speech on the economic outlook at 13:00 ET....(give us the .50bsp cut and let's get this over with, is turning out to be a joke for god sake enough's enough) ....Dow -20 Points, Naz -14.25, S&P -5.59, NDX -16.53 rtq (real time quotes)

ron · #2 (**permalink**) 01-10-2008, 11:22 AM

CNBC saying that "U.S. commercial paper outstanding is $1.813 trillion from $1.798 trillion in prior week, allowing the first back-to-back gain since the credit crunch in August 07.....the overall commercial paper market has shrunk by $413 billion since the peak just b4 the credit crunch hit.

ron · #3 (**permalink**) 01-10-2008, 11:39 AM

Dow currently above yesterday's high of 12,738 currently hovering positive territory 12,750.18 +15 Points.

jacob · #4 (**permalink**) 01-10-2008, 12:25 PM

at 12:00 ET look for both Hoening and Bernanke to speak on the economy

ron · #5 (**permalink**) 01-10-2008, 12:34 PM

stock mrkt reached its best levels of the session in the past hour, but is now back on the decline as selling pressure picks up in the tech sector (-1.1%). Financials (-0.1%) have dipped below their best levels, but have seen a nice bounce off their lows, when they were down 2.0%....Dow currently -21.95 points, Naz -17.67, S&P -7.30, NDX -14.79 rtq (real time quotes)