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Interpretting the Fed for You
2007-10-31 19:50:00
(Stocks in this article: NYSE: ABX, NYSE: PTR, NYSE: PG, NYSE: KMB, NYSE: CL)You can throw everything away! I mean regarding the FOMC Policy Decision and Statement, nothing matters except a few critical words. You need only concern yourselves with two sentences, and I'm disappointed with most popular media outlets I've seen touting today's activity as a catalyst for $100 oil, when in fact, it is a catalyst for $70 oil. The sentences in question are these: "The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth." In common terms normal people not fluent in Fed speak can understand, this statement reads, "We are adopting a neutral bias, but we may change this depending on circumstances in the future." The Fed's words, "after this...

Procter & Gamble Goes on Sale (NYSE: PG)
2007-10-31 17:32:00
(Stocks in this article: NYSE: PG, NYSE: CL, NYSE: KMB, NYSE: CAT)The shares of consumer staples provider Proctor & Gamble (NYSE: PG) had a nice run since September, but are being reevaluated now due to margin pressures. I think after near-term adjustment, these shares should come back to favor for two simple reasons. First and foremost, PG offers products that provide sales stability and the wherewithal to survive trying economic times. Secondly, premium brand champions should have pricing power, and find ability to shift rising commodity and energy costs to the consumer, unless things get really bad.Both Procter & Gamble (NYSE: PG) and Colgate-Palmolive (NYSE: CL) reported quarterly results on Tuesday. These, and like companies, are benefiting from global growth on a softening dollar, while offering an ability to traverse economic troughs. However, PG fell 4% on Tuesday, as despite beating estimates by a penny before a nonrecurring item, the company only raised its full-ye...
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Morning Report: Economic Data Heavy Day
2007-10-31 13:10:00
(Stocks in this article: NYSE: ABX, NYSE: PTR, NYSE: MER, NYSE: MAN, NYSE: RHI, NYSE: KFT, NYSE: ALU, Nasdaq: IACI, Nasdaq: WBSN, Nasdaq: GOOG, NYSE: DB)Futures Prices are mildly positive this morning, on a day that promises to be filling on information. Call it Data Heavy Wednesday, as nine important economic reports reach the market. Data overload may overcome traders today, with the culmination at 2:15, when the FOMC makes its long anticipated rate decision and announcement.Economic Checklist:The Mortgage Bankers Association reported its weekly Purchase Applications, showing the continuation of a trend. Refinancings continued to drive application activity, as applications rose 3.8% driven by 9.2% higher refinancing activity on the lowest 30-year mortgage rates since May. Does this mean go out and buy Countrywide (NYSE: CFC) after its recent positive outlook spurred its shares to rocket last week? I would not touch these stocks ahead of the Fed action this afternoon. There's too ...
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Sell Your Gold and Oil Now
2007-10-30 20:34:00
(Stocks in this article: NYSE: ABX, NYSE: PTR, NYSE: XOM, NYSE: NEM, NYSE: GFI, NYSE: GG, NYSE: MER)While gold hits new highs, I am boldly arguing that the price of the commodity and related shares should peak this week on the Federal Open Market Committee Policy Statement. I believe the impetus for dollar decline will be withdrawn, and gold and oil prices will appropriately recede. Thus, I advise investors to take profits in their high flying gold and big oil stocks ahead of the meeting.Since before the last Fed cut in September, the dollar has dived while stocks have run up into this meeting on expectations of a history that repeats itself. In the past, big Fed easings have been followed by trend of continued rate cut, but things threaten to be different this time around, and this view is not unshared. Up until last week, many on the street, myself included, thought Fed inaction was at least as possible as a 25 point cut.News flow abruptly changed that view, but I see this as a cl...
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Growth Hoax! What If The Fed Surprises the Market?
2007-10-30 20:14:00
(Stocks in this article: Nasdaq: FCEL, Nasdaq: ACAD, Nasdaq: ACOR, NYSE: CRL, Nasdaq: CBST, Nasdaq: DNDN, NYSE: DNA, Nasdaq: GERN, Nasdaq: GILD, Nasdaq: IDEV, NYSE: MDZ, Nasdaq: PGNX, Nasdaq: QGEN, Nasdaq: UTHR)At times like these, when the Fed seeks to stimulate economic expansion, the sector that should benefit most is “low quality.” However, I view the current market environment illusory, and providing a sort of growth hoax that I expect will be exposed after the Fed's Halloween meeting. Due to my view that the Fed might let the market down with rate inaction or a policy statement that indicates an inclination for forward neutral bias, I looked for short ideas where stocks that have run higher on expansionary rate expectations could give back gains after Halloween.Expansionary measures are meant to help firms find capital to finance growth at times when a little extra incentive is useful. In that type of environment, the firms that benefit most are the ones financing growth ...
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Morning Report: Fed Starts Its Engines
2007-10-30 12:53:00
(Stocks in this article: NYSE: PG, NYSE: CL, NYSE: PTR, NYSE: ABX, NYSE: UBS, NYSE: CFC, NYSE: KMB, NYSE: CAT, Nasdaq: SIRI, NYSE: PMI, NYSE: F, NYSE: Q)Futures indicate a lower open for stocks as the anxiety intensifies on Wall Street regarding the pending Fed decision. The FOMC begins its two-day meeting today that will culminate in its decision and policy statement tomorrow afternoon. Yesterday we outlined our expectations and continue to recommend the shorting or exit from gold and big oil shares, including names like Barrick Gold (NYSE: ABX) and PetroChina (NYSE: PTR), which have banked big appreciation over the period since the mid-August emergency move from the Fed. I continue to feel strongly about this action, and today offers investors even better exit points or short points to take action from.Consumer staple providers Procter & Gamble (NYSE: PG) and Colgate-Palmolive (NYSE: CL) reported quarterly results today. These companies are benefiting from global growth on a s...
More About: Report , Morning , Engines

Morning Report: Commodity Plays Played Out
2007-10-29 13:00:00
(Stocks in this article: NYSE: VZ, NYSE: MER, NYSE: F, NYSE: HUM, NYSE: RSH, NYSE: UBS, NYSE: GPS)The tone of trading today is likely to be driven more by expectations and anticipation than on actual news. This week's Federal Open Market Committee Policy Statement is as anticipated on Wall Street as this year's Halloween candy harvest is to every child waking up this morning. Wall Streeters are also as anxious as your kid is about the potential success or failure of the effort. Since the last Fed cut in September, the big 50 point move, stocks have run up into this report on expectations of a history that repeats itself. In the past, big Fed easings have been followed by trend of continued rate cut, but things threaten to be different this time around. Up until last week, many on the street, myself included, thought Fed inaction was at least as possible as a 25 point cut. Last week's unraveling at Merrill Lynch (NYSE: MER) and existing home sales weakness were viewed by the marke...
More About: Report , Morning , Plays , Commodity

Editor's Note
2007-10-29 04:06:00
Because Monday is such a quiet day on the event calendar, we will publish "The Week Ahead" after Monday's daily Morning Report. We have a ton of material in inventory ready for publishing we hope to get to you this week, and many new editions to the site that should arrive by the first week of November. Thank you.Markos
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Please Help to Support Our Effort
2007-10-27 22:09:00
Dear Readers:Best wishes to you from The Greek! We hope the year has been a happy and profitable one for you. We also hope you are continuing to find value in our daily market reports and our weekly market-moving event planner, as well as from our special reports and other efforts we share through the site.Today, we reach out to you for your support. We persist in this effort sustained only through your kind support of our advertisers. We earn income in two main ways. First, when you click through to our Google advertisers offered in just four locations: atop the site, below the first article and in two places within the sidebar. We also earn income when you purchase items from our many other advertisers. So, the easiest and costless way to help, is by visiting a Google advertiser.While your support is critical to us, we hope that you have sincere interest in our advertisers, and we are not recommending clicking for the sake of clicking. We think you will enjoy the many interesting ...
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Subscribe to Wall Street Greek Email Delivery
2007-10-27 21:14:00
Please enter your email address below to begin receiving our postings via electronic delivery. You may also email us directly if you have any questions, at Wall Street Greek @gmail.com. Your satisfaction and privacy is important to us and we will never share your information with any third party. If you later decide email distribution is not for you, it's easy to cancel. Check to make sure our mailings are not being filtered by your spam box. Subscribe to Wall Street Greek Free MaterialEmail : If you would like to advertise in the space below our articles, we are now offering tailored plans, including assistance in ad design. Contact us at WallStreetGreek@gmail.com to find out more.

Morning Report: Microsoft & Technology's Resurgence (Nasdaq: MSFT)
2007-10-26 14:14:00
(Stocks in this article: Nasdaq : MSFT, NYSE: BAC, NYSE: MER, Nasdaq: AAPL, NYSE: WEN, NYSE: AIG, Nasdaq: ORCL, Nasdaq: BEAS, Nasdaq: BIDU, NYSE: CFC, NYSE: WMI, Nasdaq: AMZN, Nasdaq: YHOO, Nasdaq: INTC, NYSE: WB, Nasdaq: CSCO)Nasdaq and S&P 500 Index futures indicate a positive open today, as the giants of technology continue their resurgence. Microsoft and Apple take the baton today from the quarter's earlier lead of Yahoo! (Nasdaq: YHOO), Intel (Nasdaq: INTC) and Amazon.com (Nasdaq: AMZN). Last night, Microsoft loudly announced its plans to remain a staple of American innovation.Microsoft (Nasdaq: MSFT) reported fiscal first quarter EPS of $0.45, representing 29% growth, and exceeding analysts' consensus by $0.06. MSFT shares are already up about 13% in pre-market trading, representing nearly $40 billion of value creation (market capitalization). The company attributed its performance to sales of its newest operating system, Windows Vista, and its Halo 3 video game. Meanwhil...
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Morning Report - Economic Data Takes Helm
2007-10-25 15:15:00
(Stocks in article: NYSE: MOT, NYSE: BAC, NYSE: AET, NYSE: PHM, NYSE: BMY, NYSE: DAI, NYSE: SNE, Nasdaq: CMCSA, Nasdaq: MSFT)Economic data should take the market helm today, with three key reports on the slate. Each bit of data is critical now as we approach the Fed's Halloween meeting. The market will read Fed bias implications into each point, and data will thus drive daily price movement.Considering yesterday's afternoon rally was at least partially driven by the rumor of a Fed emergency meeting, which I view unlikely, and given this mornings negative economic data flow, I would look for stocks to trend lower today.Last week, Weekly Initial Jobless Claims surprised on the high side when reported at 339,000 (revised), so today's report was under the microscope. New benefits filers amounted to 331,000, effectively lifting the four-week moving average to 324,750. While not yet alarming, the trend is moving in the wrong direction, raising concern for recession.Durable Goods orders...
More About: Data , Report , Morning , Helm

Tractor Supply Offers the Right Stuff (Nasdaq: TSCO)
2007-10-25 02:48:00
(Stocks in this article: Nasdaq : TSCO, NYSE: TGT, NYSE: JCP, NYSE: LTD, NYSE: AEO, NYSE: MW, NYSE: GPS, Nasdaq: ZUMZ, NYSE: BKE, Nasdaq: WTSLA, Nasdaq: PSUN, NYSE: CAT, NYSE: DE)In an industry impacted by softening consumer spending, we may have found the right niche to buck the trend and an opportune entry point as well.As pressures mount on the American consumer, shares in the retail sector are coming under the microscope. However, the space may yet offer growth for those who look hard enough for it. Also, diversification loyalists will still need to set aside security asset allocation space for a retailer or two within their portfolios. If you fit this bill, and are looking for a retail name in such a troubled environment, we expect it’s going to take smart niche investment to succeed, and we think we have one such idea for you.Troubled retail waters ahead…Retailers reported chain-store sales for the month of September a few weeks ago, and the message was loud and clear. Whil...
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Our Wall Street Jobs Page is Live!
2007-10-24 19:28:00
Valued Readers,Our "Wall Street Jobs " page is live. We hope you find it useful. The service is free for now while we continue building and fine tuning, so enjoy and spread the word!The Greek
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Today's Market Moving News - Merrill & Oil Face Reality
2007-10-24 15:31:00
(Stocks in this article: NYSE: MER, NYSE: BA, Nasdaq: PFCB, Nasdaq: AMZN, Nasdaq: BRCM, NYSE: MCO, NYSE: WLP, Nasdaq: NDAQ, Nasdaq: PFCB, NYSE: OXY, NYSE: GSK, NYSE: PTR, Nasdaq: GOOG)This morning Merrill Lynch and the energy market face their respective realities. Merrill (NYSE: MER), which had telegraphed its mortgage-backed securities meltdown months prior, today raised investor concern to a new level as it announced write-downs would be $2.5 billion more than previously reported. In fact, Merrill's total loss from CDO, asset-backed securities, mortgage market participation and leveraged lending to corporate takeovers amounted to $7.9 billion.Merrill's miscue tops Citigroup's (NYSE: C) Q3 writedown of $6.5 billion and sets a new record for such misevaluation of risk. MER shares are down about 2.5% in premarket trading and seem assured to blow back the clouded tone to financial sector trading, at least for the short-term. We now understand what Merrill's equity analyst may hav...
More About: News , Reality , Market , Moving , Face

Wall Street Jobs
2007-10-24 05:10:00
We're currently beta testing this new endeavor and value-added service for our readers. You will shortly be able to search "Wall Street " type job listings at the Wall Street Greek. It will be free initially, so enjoy and spread the word!
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Today's Coffee - An Apple a Day
2007-10-23 20:00:00
(Stocks in this article: Nasdaq: AAPL, Nasdaq: UAUA, NYSE: BP, NYSE: CFC, NYSE: COH, NYSE: DD, NYSE: WHR, NYSE: T, NYSE: LMT, NYSE: NKE, NYSE: UPS)Tech to the rescue! AGAIN! In times of turmoil, when distress abounds and there seems there is no stopping the world's imminent doom, the city of Gotham puts out the call to its savior in silicon green, The Technology Sector!Apple (Nasdaq: AAPL) posted a blowout quarter, earning $1.01 a share, which was well ahead of analysts' consensus for $0.86, according to Thomson Financial. Growth was boosted from a segment you might not have expected, as Mac sales jumped 34%. The company notes Mac sales benefited from new product introduction and higher education sales. I suspect Mac sales may be benefiting also from residual sales to iPhone shoppers at Apple retail stores. That's called synergy folks, and justifies the existence of Apple's stores as it seeks to take market share in the PC space. Management indicated that 50% of Mac sales were t...
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Editor's Note
2007-10-22 19:59:00
Your value-added market-moving event planner is just below this article on the page, while your market-moving news for the day is updated in the sidebar. Please enjoy our new video advertising, and we hope it helps to lighten your day.Watch the latest videos on YouTube.com
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The Greek's Week Ahead - The Last Nail in the Coffin
2007-10-22 15:26:00
The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.Just when you thought it could not get any worse, someone goes and finds that last nail to put in your coffin. That's life isn't it? I don't know who said it best, Frank Sinatra or Rocky Balboa, but it can always get worse can't it. Your best friend can let you down and your dog can bite you in the ass when you turn your back.Last week, not to our surprise but clearly to the market's shock, Caterpillar (NYSE: CAT) offered up that bit of reality nobody wanted to chew on. Caterpillar announced not only that its U.S. business was in distress, but that global impact from U.S. woes and U.S. recession seemed all too possible. Nice timing too, on the anniversary of the infamous crash of 1987.Traders are a superstitious lot, so it would not have taken much more than that to get the paper walls of the market's recent rise crumbling Friday. Still, the market was also dige...
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Today's Coffee - Caterpillar's Metamorphosis (NYSE: CAT)
2007-10-19 20:31:00
(Stocks in this article: NYSE: CAT, NYSE: HON, NYSE: DE, Nasdaq: GOOG, NYSE: SLB, NYSE: WB, NYSE: MCD, NYSE: MMM, NYSE: AMD)On the 20-year anniversary of the great crash of 1987, the market is appropriately marking the day with significant declines in the three most widely followed indices. Today's decline is really being driven by bad news from Caterpillar, and a warning that its U.S. weakness is significant enough to impact results. CAT also warned that U.S. weakness might not be containable, and talking heads speculated finally about the impact to exporting Asian nations. Do you see the dominoes falling into place?The scenario we laid out months ago, where U.S. weakness would lead to global market correction is getting setup for future play. We still expect the catalyst to be a geopolitical surprise, perhaps an event regarding Iran. We still put in play the idea that Iran could precede an American bombing with an act of war of its own. It would not be the first time the element ...
More About: Coffee , Metamorphosis , Tamo , Morph , Metamorpho

Editor's Note
2007-10-19 16:46:00
Dear Readers,While you may not always find a new article up on the site, our "Market-Moving News" section, found in the sidebar, is updated daily every morning to offer you the news that is most likely to impact your portfolio each day.The Greek
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Today's Market Moving News - The Buffet Foxtrot
2007-10-18 15:30:00
(Stocks in this article: Nasdaq: EBAY, Nasdaq: GOOG, NYSE: BAC, NYSE: PFE, NYSE: NOK, NYSE: LLY, NYSE: WM, NYSE: BSX, NYSE: SAP, NYSE: CAL, NYSE: PTR, Nasdaq: INTC, Nasdaq: YHOO)After tech defeated housing yesterday in the first of Q3's death match series, the IT sector takes on the tough banking sector on Thursday. Yesterday, strength born from strong earnings reports that originated out of Intel (Nasdaq: INTC) and Yahoo! (Nasdaq: YHOO) propelled the NASDAQ and growth oriented S&P 500 Index higher, while the Dow Jones Index slipped on the day. This morning, earnings news from Ebay (Nasdaq: EBAY) pits up against a 32% profit free fall reported by Bank of America (NYSE: BAC). Ebay beat numbers and raised guidance but the shares were greeted by a Deutsche Bank (NYSE: DB) downgrade this morning, and the shares opened lower as result. Bank of America was of course impacted by trading losses and loan write-downs.One thing is for sure, Warren Buffet has to be nimble these days with B...
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Today's Coffee - Death Match!: Tech Vs. Housing
2007-10-17 20:27:00
(Stocks in article: Nasdaq: YHOO, Nasdaq: INTC, NYSE: MTG, NYSE: KO, NYSE: MAN, NYSE: JPM, NYSE: ABT, NYSE: HOV)Let's get ready to rumble!!! In this corner, the champion of market-moving news... Weighing in at a 14-year low annual pace of 1.191 million housing starts; recording a National Association of Home Builders' 23-year record low builders' confidence measure of 18; and continuing to threaten economic recession, the housing industry! And in this corner, the challenger; a blast from the past and champion of years ago; reporting strong and Nasdaq leading quarterly earnings, the technology sector! Now let's keep it clean fellas; no rabbit punches and no errand extraction of data to inspire speculative investment!The housing market offered two pieces of very negative news this morning, with housing starts and home builder confidence both reaching extreme lows. Ara Hovnanian, founder and chief of home builder Hovnanian (NYSE: HOV), looked like a desperate man on CNBC on Tuesday...
More About: Coffee , Tech , Housing , Death , Match

Is America Iraq's Guardian OR Are We Hypocrites?
2007-10-16 16:00:00
A sovereign nation that we have taken on the responsibility to dismantle and reconstruct is about to be invaded. We incurred regime change upon Iraq, and accepted the responsibility of rebuilding the nation for the sake of stability in the Middle East and in order to neutralize soil we felt was rich for breeding terrorists and WMD. I ask you now, are we Iraq's guardian or are we liars and exploiters?As we and Iraq stand on the brink of imminent invasion from Turkey, a supposed NATO ally, the nation we rendered defenseless, and now occupy and police, relies upon us to defend it with word and with force. What are we but hypocrites if we allow our supposed ally to enter Iraqi territory without welcome, and argue against Iranian influence in Iraq. If Syria or Iran were currently contemplating the entry into Iraqi territory, be sure that Condoleezza Rice would stand strongly and voice stern warning against such a plan. WHERE ARE YOU NOW CONDOLEEZZA? I am an open-minded Republican, but/a...
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The Greek's Week Ahead - The Growth Hoax
2007-10-15 14:15:00
The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.At times like these, when the Fed seeks to stimulate economic growth, the sector that should benefit most is growth oriented and "low quality" shares in our view. However, we view the current market environment illusory, and providing a sort of growth hoax that we expect will be exposed after the Fed's Halloween meeting.Expansionary measures are meant to help firms find capital to finance growth at times when a little extra incentive is useful. In that type of environment, the firms that benefit most are the ones financing growth in ways other than through the use of operating cash flow. These are riskier firms, the kind without earnings but with high hopes and debt. At the risk of getting too technical... They benefit also because most, if not all, of their value is found in the terminal portion of the discounted cash flow model, the part outside of the forecast per...
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Riding the Martek Roller Coaster
2007-10-13 20:15:00
If you have owned Martek Biosciences (Nasdaq: MATK) over the past few years, you could probably use some motion sickness medication.Your favorite Greek here stumbled across Martek (Nasdaq: MATK) at a conference one winter morning in Philadelphia in 2003. What a ride it has been ever since! Seeing Martek present was a time fill for me. I was there to see Headwaters (NYSE: HW), a company I never ended up adding to my analytical coverage. As I skimmed over the presentation schedule in my hotel room the evening before the conference, Martek looked like an interesting story to fill my 11:00 AM slot. The company’s DHA/ARA combination had just received FDA “Generally Recognized as Safe” (GRAS) approval status, and the company was actively signing up licensees who wanted to add the omega 3 fatty acid to infant formula. You see, studies show it’ll make your kid smarter. Even though its revenues to date were insignificant, I viewed Martek as a company on the cusp of generating a signi...
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Today's Coffee - Subpar Retail Scorecard
2007-10-11 19:30:00
(Stocks in this article: NYSE: TGT, NYSE: WMT, NYSE: JWN, NYSE: JCP, NYSE: LTD, NYSE: AEO, NYSE: MW, NYSE: GPS, Nasdaq: ZUMZ, Nasdaq: WTSLA, NYSE: BKE, Nasdaq: PSUN, NYSE: PEP, Nasdaq: FAST, Nasdaq: INFY, NYSE: MTB)Equities want to move higher, still buoyed by the 50 basis point cut of the Federal Reserve. The rally started in anticipation of the September move, and has continued buoyed upon it. However, we are fairly certain in our analysis that as we approach the Halloween meeting of the Federal Open Market Committee, with anticipation the Fed will leave the market hanging, equities should begin to discount that lack of further support. On the day of the Fed action, we noted our view that the Fed was heavily pressured by the Administration and Congressional leadership alike, whether directly or through implication, and acted on that basis. With credit markets breaking free from lock now, the Fed is likely to flex its own muscles a bit by not acting further in October.We expect the...
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As Consumer Confidence Tanks, Who Loses in Retail?
2007-10-10 15:04:00
(Stocks in this article: NYSE: SKS, NYSE: JWN, NYSE: TIF, NYSE: COH, NYSE: WMT, NYSE: TGT, NYSE: NDN, NYSE: FDO, Nasdaq: DLTR, NYSE: M)Last week's reporting of the RBC Cash Index showed improved consumer confidence, but recent readings from the Conference Board and University of Michigan portend trouble for retailers. We wondered which players could be most impacted by decreased consumer spending.As consumer confidence seems to be falling off a cliff just before the critical holiday shopping season, we are taking this opportunity to measure which retailers could be impacted most in the months ahead. Friday morning, the RBC Cash Index indicated improvement in October, as the confidence measure improved to 80.6, from September’s 71.1. The result was no doubt driven by the market enthusing Fed rate cut last month. However, we expect the drivers of longer-term confidence are not yet supportive. In the week before last week, the Conference Board posted its September Consumer Confidenc...
More About: Retail , Confidence

Today's Market Moving News
2007-10-10 15:00:00
CNN Money: Asian Stocks RallyFinancial Times: European Equities Edge LowerCNN Money: UAW Shuts Down ChryslerFederal Reserve: FOMC September Meeting MinutesBloomberg: Fed Signals No Rush to Cut AgainCNBC: U.S. Economists Cut '08 Growth ForecastBloomberg: Greenspan Says Economy Has Better than 50/50 ShotAP/Yahoo!: Refiners Turn Lower on Profit SqueezeTheStreet.com: Cramer on Costco (Nasdaq: COST)TheStreet.com: Profit Warnings Rattle StocksYahoo! Earnings CalendarCNBC: Alcoa (NYSE: AA) Misses ViewsBloomberg: Monsanto (NYSE: MON) AP/Yahoo!: Bausch & Lomb (NYSE: BOL) Raises OutlookAP/Yahoo!: Shaw Group (NYSE: SGR) Pummels ForecastAP/Yahoo!: CDW (Nasdaq: CDWC) Revenue Pace Ahead of ScheduleForbes: Boeing (NYSE: BA) Delays 787 DeliveriesEconomist: Georgia's Murky PoliticsEconomist: The Geopolitical Week AheadIran Daily: Tales from the Dark SideIf you would like to advertise in the space below our articles, we are now offering tailored plans, including assistance in ad design. Contact...
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Today's Coffee - 3 Good Reasons to Be Weary
2007-10-09 19:38:00
(Stocks in this article: NYSE: KMB, NYSE: YUM, NYSE: TAP, LSE: SAB.L, NYSE: SLM, NYSE: T, NYSE: HRL, NYSE: NEM, AMEX: MNG, Nasdaq: PLCE, NYSE: JPM, NYSE: ANN, NYSE: JCG, NYSE: AEO, NYSE: LTD, NYSE: CHS)The Dow, S&P 500 and Nasdaq Indices are all edging higher today. After the Fed move and better than expected jobs report, the market would seem free to move forward except for three key obstacles. First, there's the overhang that exists because of rising concern about the pending Halloween FOMC Policy decision. We fully expect the Fed to hold steady at that meeting, and we believe the market has built in expectations for a follow-through rate cut. See our discussion of this topic in "The Greek's Week Ahead - Fed Follow Through Matters."The second important factor weighing down equities is the likely earnings drag from the financial sector this quarter. Financial sector stocks account for 20.1% of the S&P 500's market cap, making it the single most important sector in the in...
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