Weekly Stock Market Newsletter, April 27, 2009
The Week Ahead: Only the Nasdaq index managed a seventh straight up week of the three major indices as bearish divergences start to develop in the stock market. Reports to watch are the S&P Case-Shiller Home Price Index and consumer confidence on Tuesday. The FOMC also begins its two day meeting on interest rate policy as well. The FOMC will deliver its policy statement on Wednesday when Q1 preliminary GDP for the economy is released. Jobless claims and personal income and spending numbers are released Thursday. The ISM Manufacturing report is due Friday.
Stocks to Watch: Stanley Works (SWK) stock lifted strongly after beating estimates for its Q1 earnings and upbeat statements from the company regarding its future. Eastman Chemical (EMN), despite substantially lower earnings from a year ago, beat estimates by .11 and the stock soared to its 200 day moving average. DeVry (DV) a came in .17 better than its Q3 from a year ago, but the stock faltered on this news as the stock has been weak recently. NBTY (NTY) reported Q2 numbers .67 lighter than last year but beat estimates as its stock moved past its 200 day moving average.
Special Note: Markets will prepare for the next government concoction known as the "Bank Stress Test", the results of which will be publicly released on May 4. This will be a pass or fail result based on a set of preconditions determined by the Treasury. Basically the whole process is to try and convince the markets of the soundness of the financial system, but after the recent FASB accounting rule changes for banks, will investors be convinced at all in a positive way?
Commentary Provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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Stocks to Watch: Stanley Works (SWK) stock lifted strongly after beating estimates for its Q1 earnings and upbeat statements from the company regarding its future. Eastman Chemical (EMN), despite substantially lower earnings from a year ago, beat estimates by .11 and the stock soared to its 200 day moving average. DeVry (DV) a came in .17 better than its Q3 from a year ago, but the stock faltered on this news as the stock has been weak recently. NBTY (NTY) reported Q2 numbers .67 lighter than last year but beat estimates as its stock moved past its 200 day moving average.
Special Note: Markets will prepare for the next government concoction known as the "Bank Stress Test", the results of which will be publicly released on May 4. This will be a pass or fail result based on a set of preconditions determined by the Treasury. Basically the whole process is to try and convince the markets of the soundness of the financial system, but after the recent FASB accounting rule changes for banks, will investors be convinced at all in a positive way?
Commentary Provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click Here To Open An Account
NobleTrading Direct Access Trading
posted by NobleTrading at
10:08 AM
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