Signs of Economic Strength
The market is getting a nice bounce in early trading. Oil prices are back above $63, which is helping many of the energy stocks. But unit labor costs were revised lower, which is easing some inflation worries.
The ISM services index came in stronger than expected (58.9 vs. 57.1). This has bond yields rising a it from recent lows, sitting at 4.45%.
Tech stocks are leading the way so far, with the SOXX +1.1%. Housing stocks are also doing well after TOL reported earnings. Brokers are flat after yesterdays nice bounce.
In other news and notes:
- Asian markets mixed in overnight trading
- AZO beats EPS; stock higher
- Wachovia upgrades health care REITs
- SIRI lowers subscriber guidance
- Oppenheimer upgrades AQNT to Buy
- Hambrecht positive on NAND flash market in '07
- TWP raises estimates for UARM
- QCOM up on news it will enter laptop connectivity mkt
- UBS checks show strong iPod sales into year-end
- SBUX up on UBS upgrade
- RSH up on LBO takeout chatter
- DRCT +25% on news of sale
long QCOM
posted by J. Kahn @ 7:24 AM
3 comments
3 Comments:
What is a good source for detailed upgrades/downgrades information?
When I checked SBUX on Yahoo Finance, I was only able to see a link to Brieding.com regarding its upgrade by UBS.
Do you see further increase in housing stocks such as KBH, TOL and LEN?
What do you think of BTU (Peabody) as a cold winter is expected by so many people?
Thx. =)
I use Briefing.com for upgrades,etc. But it is a paid site.
As for the housing stocks, I think they prob. run into resistance soon.
But I still like BTU, and have been long since it broke above its 50-day.
This is my first year of investing in stocks.
When you said "50-day", I assume you meant 50-day high. Is that a significant measurement of a stock's movement? Please explain.
Thx a bunch! :)
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