Stock Market Weekly Update, 9 March 2009
The Week Ahead: As this week begins, unemployment is at a 25 year high of 8.1% while the DOW and S&P 500 are at 12 year lows. With this fresh on investors minds, evidence of a turnaround may be needed turn the tide of falling stock prices. Ben Bernanke will speak on Tuesday when wholesale inventories are released. Keep an eye on the jobless claims numbers on Thursday along with advanced retail sales and business inventories. Friday's trade balance and Import Price Index are important too.
Stocks to Watch: On the heels of a sweetened buyout bid for Genentech (DNA) by pharmaceutical firm Roche of Switzerland on Friday, comes the surprise takeover of Schering Plough (SGP) by Merck & Co. early Monday morning. As a new tax season unfolds shares of H&R Block (HRB) jumped on good Q3 results and an 11% increase in revenues. Steinway Musical Instruments (LVB) showed good profitablity in Q4 beating estimates handily and reversing a sharply declining stock. Fuel Systems Solutions (FSYS) missed Q4 estimates badly as the alternative fuel products company dropped 32%.
Special Note: Since Inauguration Day in January, stock markets are down on average around 20%. Much of this decline occurred after the release of the budget from the Obama Administration. With the government announcing approximately 1.8 trillion dollars in spending programs just in the last 3 weeks and the claim that the budget deficit will be cut in half in four years, investors may be reminded of similar false pronouncements by the Bush Administration in 2005 after record budget deficits then, but better economic times than now.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click here to Open an Account.
NobleTrading Direct Access Trading
Stocks to Watch: On the heels of a sweetened buyout bid for Genentech (DNA) by pharmaceutical firm Roche of Switzerland on Friday, comes the surprise takeover of Schering Plough (SGP) by Merck & Co. early Monday morning. As a new tax season unfolds shares of H&R Block (HRB) jumped on good Q3 results and an 11% increase in revenues. Steinway Musical Instruments (LVB) showed good profitablity in Q4 beating estimates handily and reversing a sharply declining stock. Fuel Systems Solutions (FSYS) missed Q4 estimates badly as the alternative fuel products company dropped 32%.
Special Note: Since Inauguration Day in January, stock markets are down on average around 20%. Much of this decline occurred after the release of the budget from the Obama Administration. With the government announcing approximately 1.8 trillion dollars in spending programs just in the last 3 weeks and the claim that the budget deficit will be cut in half in four years, investors may be reminded of similar false pronouncements by the Bush Administration in 2005 after record budget deficits then, but better economic times than now.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click here to Open an Account.
NobleTrading Direct Access Trading
posted by NobleTrading at
9:46 AM
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