Stock Market Weekly Update, August 25, 2009
The Week Ahead: Comments by Fed chairman Ben Bernanke about a recovering economy although slow to evolve was enough to help lift markets to new highs for the year. The S&P Case Shiller Home Price Index and consumer confidence numbers are released Tuesday while the durable goods and new home sales are due by Wednesday. The preliminary Q2 GDP report will be out on Thursday, but the personal income and consumer sentiment figures will have to wait until Friday.
Stocks to Watch: The existing home sales number helped home building companies like Ryland Group (RYL) continue an up trend that started last November. Shares of Brunswick Corp. (BC) continued to rise from last years low after Citigroup noted a modest improvement in leisure sales such as boats since July. Teen apparel and retailer, Aeropostale (ARO) reported same store sales up 12% and beat earnings estimates by a penny for the 2nd quarter lifting the stock to a new all time high.
Special Note: Volume continues to dry up as the market works higher. This trend has been in place since the March low. As the summer season winds down, it will be interesting to see the post Labor Day reaction to current trading levels for stocks as vacationers return and more normal volume patterns arrive in September. The direction associated with that volume could be critical for the balance of 2009.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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NobleTrading Direct Access Trading
NobleTrading.com Offers Online Stock Trading, Online Options Trading
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Stocks to Watch: The existing home sales number helped home building companies like Ryland Group (RYL) continue an up trend that started last November. Shares of Brunswick Corp. (BC) continued to rise from last years low after Citigroup noted a modest improvement in leisure sales such as boats since July. Teen apparel and retailer, Aeropostale (ARO) reported same store sales up 12% and beat earnings estimates by a penny for the 2nd quarter lifting the stock to a new all time high.
Special Note: Volume continues to dry up as the market works higher. This trend has been in place since the March low. As the summer season winds down, it will be interesting to see the post Labor Day reaction to current trading levels for stocks as vacationers return and more normal volume patterns arrive in September. The direction associated with that volume could be critical for the balance of 2009.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click Here To Open An Account
NobleTrading Direct Access Trading
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
posted by NobleTrading at
10:01 PM
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