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Dow

one day up $0_0$ , one day down (`~`), "seow, seow ai" following DOW can go crazy

 

NEW YORK (MarketWatch) -- U.S. stocks closed higher on Tuesday, helped by better-than-expected consumer confidence data and lower oil prices, but investors voiced fresh worries about the strength of corporate profits.

The Dow Jones Industrial Average rose 52.66 points to 11,103.71. Over the last two sessions, the benchmark index has logged a gain of more than 230 points.

The Nasdaq Composite Index added 12.06 points to end at 2,073.90 while the S&P 500 Index climbed 7.97 points to 1,268.88.

"You have to feel comfortable with the notion that portfolio managers believe that the market, first, is undervalued as many have argued and, secondly, that we are not headed toward a hard landing for the economy and that the Federal Reserve, based on what we've heard from Chairman Bernanke and others will not make a mistake of raising interest rates too high," said Hugh Johnson, chairman of Johnson Illington Advisors. "That's been the assessment of the market over the last two days.

But corporate profits remain a concern, said Joe Battipaglia, chief investment officer at Ryan, Beck & Co. "Good quarterly earnings have a 'but' attached to them, and that is revisions downward of future guidance," he said.

On the economic-data front, there was more grim news about sales of existing U.S. homes. Although sales fell by a smaller-than-expected 1.3% in June, the inventory of unsold homes rose to a record 3.725 million, its highest since July 1997, the National Association of Realtors reported. See full story.

Separately, U.S. consumer confidence strengthened a bit in July, the Conference Board said. The consumer-confidence index rose to 106.5 in July from a revised 105.4 in June. The gain was unexpected. Economists forecast the index to slip to 103.9 in July from the initial June estimate of 105.7.

On the broader market for equities, advancers outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, and by 18 to 11 on the Nasdaq.

 

 

Dow & Nasdaq in ReeeD now ... Me go zzz now early cos it ghost month now. :p

 

Dow up 15 points, while Nasdaq up 11 points now ... after both opening on the RED at opening ding-dong bell. (Phewww)

 

NEW YORK (MarketWatch) -- U.S. stocks are headed for a mixed opening Tuesday, as investors sort through the latest barrage of earnings reports and gauge whether the market will be able to build on the prior day's buoyant rally.

The Dow Jones Industrial Average could get some help from strong earnings forecasts from components Altria, DuPont, and sharply higher profits from McDonald's.

The futures contract for the Dow Jones Industrial average last was down 9 points at 11,093.

Futures contracts for the S&P 500 and the Nasdaq Composite were down 1.20 point at 1,266.30 and up 1.5 point at 1,496.

The main catalysts on Monday were hopes for breakthroughs in the Middle East diplomatic process, some pleasing earnings reports and merger news.

However, hopes for a rapid end to the violent conflict between Israel and Hezbollah are diminished Tuesday, following news reports that Israeli forces are likely to take control of a Hezbollah stronghold, as Hezbollah continues to fire rockets at Haifa.

Investors will be watching whether Monday's gains will spill over into Tuesday's market action.

"All eyes will be on whether or not the market can put in a follow-through day. The last three triple-digit Dow rallies failed to produce a follow-through," said Marc Pado, U.S. market strategist at Cantor Fitzgerald.

"It is not essential that it happen on the very next day, although it wouldn't hurt, it does need to happen within the next three to five days," he said.

At 10 a.m. the existing home sales report for June and the July consumer confidence reports will be released.

MarketWatch, based on a survey of economists, is forecasting 6.58 million home sales for last month, which would be a decrease from 6.67 million in May, in line with the general view that the housing sector is slowing.

The headline consumer confidence reading for this month is expected to decline to 103.9 from 105.7 in June.

Other markets

Treasurys were trending slightly higher, following a flat session on Monday. In recent days, rising expectations that the Federal Reserve will back off its rate-tightening program in the near future have led to overall price gains, as investors attempt to push yields lower.

The benchmark 10-year Treasury note last was 3/32 higher at 100-22/32 with a yield of 5.036%, down from 5.044% at Monday's close.

Commodities were on the rise in the early going, with the front-month gold contract up $8.30 at $621.50 an ounce. On Monday gold closed lower, after losing some of its safe-haven premium on that day's hopes for a speedy end to the violence in the Middle East.

Crude futures last were higher for a fourth session in a row, last trading 39 cents higher at $75.44 a barrel. Crude is benefiting from the rejection of the Middle East cease-fire proposal.

The dollar was under modest pressure, falling 0.04% to 1116.70 yen, as the euro rose 0.1% to $1.2637

 

Hi Singaporegal,

I didnt rush to buy the stock, was already quite low. Bought with confidence with all the TA charts but panic selling coz of war and oil price. Predicted market will fall even lower with all these announcements but for a short while.  Well, with all the charts and with or without emotions, (told myself not to get attached to my favourite stock)LUCK still play a  very big part. Agree?? When good luck, buy high price still can make money when sell even if charts indicate otherwise. I'll be staying out for a while till better luck.  Good luck to all of you!!

 

Nikkei's running along with Dow ...

 

Hi terasa,

I know what you mean... happened to me many many times. Be watchful of the stocks you buy, I try to avoid stocks that have low trading volume. On the other hand, I also avoid stocks that appear to be highly speculative in nature. These are my reasons -

Low Trading volume - difficult to get rid of them
High Speculative - difficult to predict or identify price trend

Basically, if you rush in without having a rough idea of the current trend, you will increase the probability of incurring losses. Its better to wait for a better opportunity. You can afford to lose time but you cannot afford to lose money.

 

Singaporegal, thanks for your 2cents advise.

I got burnt last week. Sold to cut losses, then price went up after selling, the next day. Fed up!

 

STI appears to be a leading indicator because it's trading on Wall Street futures, rather than last night's performance. 

 

DOW is not going down, is getting better day by day even there is uncertain in it element with d world events.

 

NEW YORK (MarketWatch) -- U.S. stocks ended higher Monday, with the Dow Jones Industrial Average posting a triple-digit gain and the Nasdaq Composite up over 2%, after a diplomatic push in the Middle East, a flurry of merger-and- acquisition activity and strong results from Merck and Schering-Plough boosted sentiment.

The Dow industrials rose 182.67 points, or 1.7% to 11,051. Of 30 Dow stocks, 29 contributed to gains.

The Nasdaq Composite Index rallied 41.45 points, or 2.1% to 2,061.84 while the S&P 500 Index climbed 20.62 points, or 1.7% to 1,260.91.

"The M&A activity, whether it be AMD or HCA, has put a bid under the market," said Jay Suskind, director of trading at Ryan, Beck & Co.

Suskind said market sentiment received a further boost as U.S. Secretary of State Condoleezza Rice arrived in the Middle East. Her diplomatic offensive raised hopes that a cease-fire between Israel and the Lebanon could be brokered.

For Marc Pado, U.S market strategist at Cantor Fitzgerald, quarterly results will continue to be key. "This week needs to be about hitting expectations," said Pado, U.S. market strategist. "It also wouldn't hurt if we topped expectations on a few key earnings reports this week as well."

 

 

If u ppl has observe, STI has become an leading indicator for the performance of Dow Jones.

Dow Jones goes down STI goes down and vice versa however

when dow jones go up/ down but STI goes the opposite, u can expect dow jones to follow.

 

Dow up 133 points and Nasdaq 34 points now .... Just for info only.

Trade with care as per Bullrun & Singaporegal's advices.

 

There is still not clear trend where Dow is heading in the near term. Similar for STI, STI didn't react to Dow's last night performance, so direction for tomorrow is difficult to predict.

 

I would like to caution all members to be cautious in trading tommorow. Do not buy into the market tommorow morning just because the Dow rises very high.

This is because a strong correction usually follows a sharp rise/fall of a market.

Just my 2 cents of advise. I got burnt many times before like this...  :(

 

Dow up 105 points, Nasdaq up 24% now ..... Shiok!

 

Now up 81 points!