Weekly Market Newsletter January 28
The Week Ahead: The markets will obviously be watching many significant economic reports this week after one of the most turbulent weeks ever on Wall Street. For the President's stimulus package to work, investors need more data to see if its too little too late. Durable goods numbers along with the consumer confidence data are due on Tuesday. An expected interest rate cut by the Fed and the 4th quarter GDP will be announced on Wednesday. Personal income and spending numbers are reported on Thursday, and a highly anticipated employment report will be released on Friday morning.
Stocks to Watch: Besides the important economic reports, this week brings hundreds of earnings releases from a diversified list of large companies. Significant ones to watch include: Google (GOOG) and Yahoo! (YHOO) in the tech sector; Proctor and Gamble (PG) in the consumer discretionary sector; Eli Lilly (LLY) and Merck (MRK) in the pharmaceutical area; Exxon Mobile (XOM) and Chevron (CVX) in the oil patch; Others include: Amazon (AMZN), (UPS), Boeing (BA), 3M (MMM), Dow Chemical (DOW), JetBlue (JBLU), and CVS Caremark (CVS).
Special Note: The Dow Jones Industrials 850 point trading range this past week was highlighted by both a selling climax that tested the 2000 high of 11,750 for the first time and a surprise interest rate cut by the Fed that eased investor anxiety helping lift prices for a positive close by weeks end. As mentioned here last week though, the market has already approached the resistance zone between 12,500 and 13,000 indicating that the bulk of the upturn has already occurred. Look for a retest of the lows followed by another rally.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
Stocks to Watch: Besides the important economic reports, this week brings hundreds of earnings releases from a diversified list of large companies. Significant ones to watch include: Google (GOOG) and Yahoo! (YHOO) in the tech sector; Proctor and Gamble (PG) in the consumer discretionary sector; Eli Lilly (LLY) and Merck (MRK) in the pharmaceutical area; Exxon Mobile (XOM) and Chevron (CVX) in the oil patch; Others include: Amazon (AMZN), (UPS), Boeing (BA), 3M (MMM), Dow Chemical (DOW), JetBlue (JBLU), and CVS Caremark (CVS).
Special Note: The Dow Jones Industrials 850 point trading range this past week was highlighted by both a selling climax that tested the 2000 high of 11,750 for the first time and a surprise interest rate cut by the Fed that eased investor anxiety helping lift prices for a positive close by weeks end. As mentioned here last week though, the market has already approached the resistance zone between 12,500 and 13,000 indicating that the bulk of the upturn has already occurred. Look for a retest of the lows followed by another rally.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
posted by NobleTrading at
7:43 AM
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