http://www.tradingmarkets.com/.site...s-Warns-Stocks--Slip-Abby-Stays-Pos-81884.cfm
Hedge Fund icon, Paul Tudor Jones, warned his clients that the rally is nothing more than a bear market bounce, a common occurrence during extended downtrends. However, this negative sentiment was challenged by Goldman Sach's Abby Joseph Cohen who stated a new bull run has started with investors easily seeing a 10% gain in the S&P 500 by years end. Positive data from the unemployment front counteracted a slew of poor earnings reports resulting in a slight negative bias on the day. The DJIA gave back -24.71 to 9256.26, the Nasdaq fell -19.89 to 1973.16 and the broad based S&P 500 dropped -5.64 to 997.08.
MetroPCS (PCS | Quote | Chart | News | PowerRating) - Missed analysts estimates by 30% sending shares tumbling 29.16% or $3.70 to $8.99.
Staples (SPLS | Quote | Chart | News | PowerRating) - The office supply retailer was upgraded to conviction buy at Goldman Sachs triggering a rally of 5.50% or $1.16 to $22.27.
Macy's (M | Quote | Chart | News | PowerRating) - Optimistically rose its forecast sending shares higher by 5.56% or 79 cents to $15.07.
Home Inns & Hotel Management (HMIN | Quote | Chart | News | PowerRating) - The Chinese low end hotel operator increased its sales forecasts with shares soaring 23.29% or $4.64 to $24.56.
Oil slipped 3 cent to $71.96, gold eased higher by $3.40 to $962.90 and the fear index VIX advanced 3.09% to 25.67.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.
Market Snapshot
Dow
-24.71 9256.26
NASDAQ
-19.89 1973.16
S&P 500
-5.64 997.08
Economic News
Construction Spending (Jun): Consensus: -0.5%, Prior: -0.9%
ISM Index (Jul): Consensus: 46.5, Prior: 44.8
Auto Sales (Jul): Consensus: NA, Prior: 3.4M
Truck Sales (Jul): Consensus: NA, Prior: 3.8M
Personal Income (Jun): Consensus: -1.0%, Prior: 1.4%
Personal Spending (Jun): Consensus: 0.3%, Prior: 0.2%
Pending Home Sales (Jun): Consensus: 0.3%, Prior: 0.1%
ADP Employment Change (Jul): Consensus: -340K, Prior: -473K
Factory Orders (Jun): Consensus: 0.5%, Prior: 1.2%
ISM Services (Jul): Consensus: 48.0, Prior: 48.8
Crude Inventories (07/31): Consensus: NA, Prior: +5.15M
Initial Claims (08/01): Consensus: NA, Prior: NA
Average Workweek (Jul): Consensus: 33.0, Prior: 33.0
Hourly Earnings (Jul): Consensus: 0.1%, Prior: 0.0%
Nonfarm Payrolls (Jul): Consensus: -333K, Prior: -467K
Unemployment Rate (Jul): Consensus: 9.6%, Prior: 9.5%
Consumer Credit (Jun): Consensus: -$4.1B, Prior: -$3.2B
Hedge Fund icon, Paul Tudor Jones, warned his clients that the rally is nothing more than a bear market bounce, a common occurrence during extended downtrends. However, this negative sentiment was challenged by Goldman Sach's Abby Joseph Cohen who stated a new bull run has started with investors easily seeing a 10% gain in the S&P 500 by years end. Positive data from the unemployment front counteracted a slew of poor earnings reports resulting in a slight negative bias on the day. The DJIA gave back -24.71 to 9256.26, the Nasdaq fell -19.89 to 1973.16 and the broad based S&P 500 dropped -5.64 to 997.08.
MetroPCS (PCS | Quote | Chart | News | PowerRating) - Missed analysts estimates by 30% sending shares tumbling 29.16% or $3.70 to $8.99.
Staples (SPLS | Quote | Chart | News | PowerRating) - The office supply retailer was upgraded to conviction buy at Goldman Sachs triggering a rally of 5.50% or $1.16 to $22.27.
Macy's (M | Quote | Chart | News | PowerRating) - Optimistically rose its forecast sending shares higher by 5.56% or 79 cents to $15.07.
Home Inns & Hotel Management (HMIN | Quote | Chart | News | PowerRating) - The Chinese low end hotel operator increased its sales forecasts with shares soaring 23.29% or $4.64 to $24.56.
Oil slipped 3 cent to $71.96, gold eased higher by $3.40 to $962.90 and the fear index VIX advanced 3.09% to 25.67.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.
Market Snapshot
Dow
-24.71 9256.26
NASDAQ
-19.89 1973.16
S&P 500
-5.64 997.08
Economic News
Construction Spending (Jun): Consensus: -0.5%, Prior: -0.9%
ISM Index (Jul): Consensus: 46.5, Prior: 44.8
Auto Sales (Jul): Consensus: NA, Prior: 3.4M
Truck Sales (Jul): Consensus: NA, Prior: 3.8M
Personal Income (Jun): Consensus: -1.0%, Prior: 1.4%
Personal Spending (Jun): Consensus: 0.3%, Prior: 0.2%
Pending Home Sales (Jun): Consensus: 0.3%, Prior: 0.1%
ADP Employment Change (Jul): Consensus: -340K, Prior: -473K
Factory Orders (Jun): Consensus: 0.5%, Prior: 1.2%
ISM Services (Jul): Consensus: 48.0, Prior: 48.8
Crude Inventories (07/31): Consensus: NA, Prior: +5.15M
Initial Claims (08/01): Consensus: NA, Prior: NA
Average Workweek (Jul): Consensus: 33.0, Prior: 33.0
Hourly Earnings (Jul): Consensus: 0.1%, Prior: 0.0%
Nonfarm Payrolls (Jul): Consensus: -333K, Prior: -467K
Unemployment Rate (Jul): Consensus: 9.6%, Prior: 9.5%
Consumer Credit (Jun): Consensus: -$4.1B, Prior: -$3.2B
