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 Post subject: June 24th Wednesday 2009
PostPosted: Wed Jun 24, 2009 7:56 pm 
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Key WRB Price Action

2min Regular Session Chart - The price action (key change in supply/demand) that had the most impact on today's price action ocurred @ 0832am est. The particular WRB S/R Zone confirmed two Long signals around 0936am and 1442pm est. In addition, it was a profit target for any short positions that occurred between 1045am - 1430pm est.

FYI - The above discussion is about one key WRB price action even though there were other key WRB price actions that occurred during the trading day that could be used to confirm entry signals, exit signals, profit targets et cetera.

Simply, knowledge of different types of key WRB's is what results in a complete understanding of the price action being traded as it is occurring in real-time.


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradingReports.htm

Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name NihabaAshi. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=60&t=222

My Trading Performance: +8.50 Emini ES points

Attachment:
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Stocks Trim Gains After Fed
Central bank holds rates steady, says economy is stabilizing. Wall Street rally loses steam, with Dow ending at a one-month low.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: June 24, 2009: 5:48 PM ET

NEW YORK (CNNMoney.com) -- The Nasdaq trimmed gains Wednesday and the Dow dipped after the Federal Reserve kept a key short-term interest rate near zero, but said nothing about expanding a program meant to keep long-term rates from spiking.

The Dow Jones industrial average (INDU) lost 23 points, or 0.3%, according to early tallies and ended at a one-month low. The S&P 500 (SPX) added nearly 6 points, or 0.7%, and the Nasdaq (COMP) gained 27 points, or 1.6%.

Stocks rose from the opening bell through early afternoon on a better-than-expected reading on durable goods orders and Oracle's quarterly results and forecast. But the advance lost steam after the Fed announcement.

The central bank opted to hold the fed funds rate, a key short-term bank lending rate, near zero, and said in its statement that "the pace of economic contraction is slowing."

While these developments were largely in line with estimates, some Fed watchers were looking for the bank to say something about its $300 billion debt buyback program, enacted to keep a lid on spiking bond yields. However, the bankers did not announce any changes to that program.

"Some people may have been expecting an enlargement of the Treasury purchases," said Steven Goldman, market strategist at Weeden & Co. He said that was demonstrated by the subsequent selloff in Treasury prices and rise in yields -- and rally in the dollar versus other currencies.

Stock have struggled over the last week on concerns about the economy and concerns that higher bond yields - which are tied to mortgage rates - will undermine any stabilization in the housing market.

Beyond the statement, stocks are moving into a period of less resilience than more recently, when a 5% decline would draw more buyers in, pushing the market to new recovery highs.

But after a 40% rally in 14 weeks, "stocks are in a nimble environment and a consolidation phase which may last weeks," Goldman said.

The three-month rally was fueled by bets the recession is starting to wind down. But stocks have retreated over the last week on worries that the advance got ahead of any recovery.

Wednesday's gains were sparked by a stronger-than-expected durable goods orders report and Oracle's quarterly results and outlook. Those factors could continue to benefit stocks over the next few days.

Stocks could also benefit from closing above a key trading level that market pros have been looking at, the 200-day moving average, said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams.

Thursday brings the release of the weekly jobless claims report and the revised reading on first-quarter GDP growth. Also Thursday, Fed Chairman Ben Bernanke will testify before a House of Representatives Committee regarding the Bank of America purchase of Merrill Lynch.

Economy: Durable goods orders rose 1.8% in May, the government reported Wednesday morning. Economists thought orders would fall 0.9%, according to Briefing.com forecasts. Orders rose a revised 1.8% in April as well.

May new home sales fell to a 342,000 annualized unit rate from 344,000 in April. Economists thought sales would rise to a 360,000 rate.

Oracle: Oracle (ORCL, Fortune 500) reported weaker quarterly sales and earnings that topped estimates, profit margins at a record high and software sales that fell less than expected. The business software maker also forecast first-quarter sales and earnings that are above analysts' forecasts.

Shares jumped 7%.

Oracle is the No. 2 U.S. software company and has connections to many other companies, so its positive results are important for the broader tech sector, Rovelli said.

A variety of other big technology companies gained too, including Dow components Intel (INTC, Fortune 500), Yahoo (YHOO, Fortune 500), Dell (DELL, Fortune 500) and Microsoft (MSFT, Fortune 500).

Other movers: The Dow's biggest losers were oil stocks Chevron (CVX, Fortune 500) and Exxon Mobil (XOM, Fortune 500), which slumped along with the prices of oil. Also, Boeing and United Technologies slipped for a second session in a row. On Tuesday, Boeing said it had again delayed the initial test flight of its new 787 jet as it needs to reinforce part of the aircraft.

In other company news, Citigroup (C, Fortune 500) said it was boosting the base pay of its employees, but keeping total compensation unchanged, as it looks for ways to "retain talent" despite bonus limits imposed by Congress. Citi has received two government bailouts and one of the terms of the help is a limit on bonuses.

Market breadth was negative. On the New York Stock Exchange, winners beat losers seven to three on volume of 1.10 billion shares. On the Nasdaq, advancers beat decliners five to four on volume of 2.18 billion shares.

Bonds: Treasury prices tumbled, raising the yield on the benchmark 10-year note to 3.68% from 3.63%. Treasury prices and yields move in opposite directions.

Other markets: In global trade, most Asian and European markets ended higher.

U.S. light crude oil for August delivery fell 57 cents to $68.67 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery rose $10.10 to $934.40 an ounce.

In currency trading, the dollar gained versus the euro and the yen.

Image

Yahoo! Finance

4:30 pm : After starting the day strong, the stock market sold off sharply midday. The major averages climbed higher toward the end of the session, but the Dow still ended modestly lower and the S&P 500 only managed a slight gain.

The Nasdaq was a leader for most of the day following Oracle's (ORCL 21.26, +1.39) better-than-expected fourth quarter results and upside first quarter earnings per share guidance after the close last night. Other large-cap tech stocks also fared well, including Apple (AAPL 136.22 +2.21), Intel (INTC 16.10 +0.29), and Cisco (CSCO 18.61 +0.04).

After a couple of slow days in terms of noteworthy, material news items, there were a few market-moving events today, including the release of the FOMC policy statement. The major averages were putting in solid gains prior to the release, but the market moved decidedly lower afterwards. While the statement said that the pace of economic contraction is slowing, it also stated that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period of time. The Fed left the fed funds rate unchanged at 0.00% to 0.25%, as expected.

While growth remains the Fed's policy concern, the wording of the June directive can be characterized as balanced since it provides the Fed the leeway to move as it sees fit based on incoming economic data and changes in the financial markets.

The FOMC also stated that its Treasury purchase program size remains unchanged. That pressured Treasuries and took the benchmark 10-year Note from positive ground to negative ground and pushed its yield up more than 10 basis points to 3.69%.

There was also some key economic data out today. Durable goods orders for May showed a surprise 1.8% increase and durable goods less transportation increased a better-than-expected 1.1%. New orders for durable goods increased 1.8% in May and were up 1.1%, excluding transportation. That was good news from the standpoint that each number easily topped the consensus estimates, which called for a 0.9% decline in total orders and a 0.5% decline, excluding transportation. Shipments, though, were still weak as they declined -2.1% to $169.9 billion.

Shortly thereafter, May new home sales data were released, which showed an annualized rate of 342,000 units, below the 360,000 unit consensus. Given the revisions to the prior month, new home sales were down 0.6% month-over-month versus an expected increase of 2.3%. Stocks initially sold off following the new homes data, but quickly rebounded and resumed their strength.

In terms of leading sectors, materials stocks (+0.8%) were strong today despite considerable weakness from Monsanto (MON 76.08 -3.22), which reported third quarter results that topped consensus expectations. However, the company typically carries high expectations, and it only reaffirmed its guidance, which may have been viewed as a disappointment to participants.

Energy stocks finished flat as oil and gas refiners (-3.5%) undercut the sector. Drillers (+1.1%) were strong, though.

Looking ahead to tomorrow morning, there are more economic releases that will garner some attention. At 8:30 AM ET, initial claims are scheduled to be released with current expectations at 600,000, and the final first quarter GDP number will be released, expected to remain at -5.7%.DJ30 -23.05 NASDAQ +27.42 NQ100 +1.6% R2K +1.1% SP400 +1.3% SP500 +5.84 NASDAQ Adv/Vol/Dec 1584/2.16 bln/1099 NYSE Adv/Vol/Dec 2188/1.10 bln/839

3:35 pm : Equity averages have rebounded slightly from session lows.

Strength in the dollar following both the Treasury auction and the FOMC release put a lid on positive momentum in commodities this session.

Weakness was especially felt in energy commodities as the dollar moved higher. Still, crude oil and natural gas futures were able to avoid sizable losses. Even in the face of bullish inventory data released this morning by the Department of Energy, August crude oil futures closed down 0.8% at $68.67 per barrel. July natural gas futures, which traded in negative territory for the entire session, closed down just 0.3% at $3.76 per contract.

Precious metals, on the other hand posted a modest gain of 0.3% this session. August gold futures popped at the open of the pit trade but sold off after hitting a session high of $944.40 per ounce 10 minutes into the pit trade. The futures closed up 1.1% at $934.40 per ounce. July Silver futures also traded in positive territory early but pared gains throughout the session to close at $13.91 per ounce, up 0.5%. DJ30 -35.07 NASDAQ +28.86 SP500 +4.48 NASDAQ Adv/Vol/Dec 1734/1.82 bln/911 NYSE Adv/Vol/Dec 2192/811 mln/833

3:00 pm : The S&P 500 is reclaiming its gains after moving sharply lower from earlier levels. The downward move followed the latest FOMC policy statement.

Treasuries continue to trade with weakness, though. The benchmark 10-year Note has fallen from a solid gain to a sizable loss, which has caused its yield to rise roughly 10 basis points to 3.68%.

Meanwhile, the U.S. dollar has improved its position. The Dollar Index is now up 0.9%, which has limited its year-to-date loss to 0.9%.DJ30 -7.63 NASDAQ +30.00 SP500 +5.96 NASDAQ Adv/Vol/Dec 1794/1.62 bln/826 NYSE Adv/Vol/Dec 2281/712 mln/728

2:30 pm : Stocks are paring their gains after gyrating in the wake of the latest FOMC statement. The Dow is now at the unchanged mark recently; it had been trading with a gain of roughly 1.3% at its session high.

According to the latest fed statement, the pace of economic contraction is slowing and conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing, but it remains constrained by ongoing job losses, lower housing wealth, and tight credit.DJ30 +2.79 NASDAQ +28.70 SP500 +7.24 NASDAQ Adv/Vol/Dec 1876/1.44 bln/752 NYSE Adv/Vol/Dec 2306/625 mln/681

2:20 pm : The latest FOMC meeting has concluded and the committee has opted to leave the fed funds rate unchanged at 0.00% to 0.25%, as expected.

However, participants are digesting the details of the FOMC's policy directive, which indicated that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period of time, but that the pace of economic contraction is slowing. The FOMC also stated that its Treasury purchase program size remains unchanged.

Stocks are gyrating in the wake of the announcement. No new direction is clear.

Meanwhile, Treasuries have pulled back. The benchmark 10-year Note had been up roughly 10 ticks ahead of the announcement, but it is now down 7 ticks, which has pushed its yield from below 3.60% to roughly 3.65%.DJ30 +32.72 NASDAQ +36.33 SP500 +10.62 NASDAQ Adv/Vol/Dec 1958/1.38 bln/662 NYSE Adv/Vol/Dec 2451/592 mln/536

2:00 pm : The S&P 500 and the Nasdaq are trading sideways in a relatively narrow range. Their gains remain strong and broad-based as they make their best percentage gain since June 1.

Meanwile, the Dow has descended to a fresh afternoon low. Its gains are much more modest.

Participants await the latest FOMC statement, which is due shortly (2:15 PM ET). The fed funds rate is expected to remain unchanged at 0.00% to 0.25%.DJ30 +41.72 NASDAQ +35.23 SP500 +11.43 NASDAQ Adv/Vol/Dec 1951/1.30 bln/662 NYSE Adv/Vol/Dec 2417/548 mln/564

1:30 pm : The U.S. dollar is having a relatively strong session. As such, the Dollar Index is currently up 0.5%.

Despite the greenback's advance, the CRB Commodity Index has been undeterred from making a gain of its own; the CRB is currently up 0.3%.

Gold prices are playing a supportive role in the CRB's ascent. Gold is currently being priced at $937.60 per ounce, up 1.5% for the session and up 6.0% for the year. With gold's advance the SPDR Gold Trust (GLD 91.70, +0.78) is making gains. However, the ETF's percentage advance isn't quite as impressive as that of gold bullion.DJ30 +58.49 NASDAQ +38.66 SP500 +12.77 NASDAQ Adv/Vol/Dec 1960/1.21 bln/639 NYSE Adv/Vol/Dec 2443/505 mln/542

1:05 pm : News flow picked up considerably this morning, giving participants plenty to chew on ahead of the FOMC's latest policy statement.

Word that durable goods orders for May showed a surprise 1.8% increase and durable goods less transportation increased a better-than-expected 1.1% helped bolster a positive tone in the early going. Stocks had already been showing strength following gains in overseas markets and news that the OECD increased its forecast for the global economy. The OECD's forecast contrasts that of the World Bank, which lowered its outlook for global growth earlier this week.

The new home sales figures for May showed a weaker-than-expected 0.6% month-over-month decline. Stocks took a breather after the announcement, but then extended gains to 1.8% before slowly drifting off of session highs.

Gains are most impressive among tech stocks, which are up 2.0% and helping the Nasdaq outperform its counterparts. The strength comes from better-than-expected quarterly results and an upbeat forecast from Oracle (ORCL 21.58, +1.71).

Jabil Circuit (JBL 7.49, +0.37) is also providing support to tech issues with better-than-expected earnings of its own.

Materials stocks had been showing some of the best gains in the early going. The sector was up 3.0%, but is now up 1.3%. Though diversified metals and mining companies (+4.6%) are showing strength, the sector is being undercut by weakness in Monsanto (MON 76.24, -3.06), which actually posted better-than-expected quarterly earnings and reaffirmed an in-line outlook for the year. Shares of MON are now at their lowest levels since March.

Consumer staples stocks are lagging this session. The sector is up just 0.3% as grocers come under pressure following a disappointing earnings outlook from Supervalu (SVU 13.72, -1.97).

Health care stocks are up a solid 0.9%, but only after overcoming an early fit of weakness. Still, the sector is lagging the broader market as investors look to be rotating out of the sector after its recent string of outperforming the rest of the market.

Energy stocks are also lagging a bit, though they are sporting a 0.9% gain of their own. The sector has been hit by weaker energy prices this session. Oil prices are currently down 1.0% to $68.50 per barrel as traders focus on a larger-than-expected build in gasoline inventories over a larger-than-expected draw in crude oil.

Participants await the latest FOMC policy statement, which is due at 2:15 PM ET. The fed funds rate is likely to remain unchanged at 0.00% to 0.25%, so most attention will be placed on the Fed's directive.DJ30 +56.45 NASDAQ +38.37 SP500 +11.91 NASDAQ Adv/Vol/Dec 1961/1.12 bln/627 NYSE Adv/Vol/Dec 2422/465 mln/550

12:30 pm : Stocks continue to slowly trend downward. Still, gains remain impressive.

Tech stocks (+2.0%) and industrials stocks (+1.9%) are sporting the best gains in the S&P 500. Materials stocks had been leading the pack, but the sector has pared a gain of 3.0% to now trade with a 1.6% gain.

Shares of Monsanto (MON 77.19, -2.11) have been a drag on the materials sector. Monsanto posted this morning better-than-expected quarterly earnings results and reaffirmed an in-line outlook for fiscal 2009.DJ30 +57.36 NASDAQ +36.66 SP500 +11.86 NASDAQ Adv/Vol/Dec 1926/1.03 bln/620 NYSE Adv/Vol/Dec 2449/425 mln/506

12:00 pm : Stocks are easing off of their session highs. Still, gains remain widespread as advancing issues outnumber decliners by 10-to-1. In the Dow, 27 of the 30 components are in positive ground; Boeing (BA 42.90, -0.97), American Express (AXP 23.11, -0.28), and JP Morgan Chase (JPM 33.49, -0.08) are the only blue-chips in the red.

During an interview with CNBC, billionaire investment guru Warren Buffet stated that he is not at all worried about deflation. He also stated that we've not yet had a bounce in the economy.DJ30 +73.61 NASDAQ +38.29 SP500 +13.27 NASDAQ Adv/Vol/Dec 1929/922 mln/594 NYSE Adv/Vol/Dec 2464/383 mln/473

11:30 am : Gains remain broad-based as all 10 major sectors in the S&P 500 sport solid gains. Health care, which was lagging with a modest loss in the early going, is now up 0.7%.

Tenet Healthcare (THC 2.77, +0.25) is a primary leader among health care stocks. The company's shares are making their best single-session advance by percent this month.

Consumer staples stocks are sporting relatively modest gains of 0.7%. Tyson Foods (TSN 12.50, +0.50) is a primary leader in its space, but grocers like Supervalu (SVU 13.87, -1.82), Kroger (KR 21.44, -0.32), and Safeway (SWY 20.55, -0.36) are all undercutting the sector's advance after Supervalu stated its first quarter earnings will be substantially below the current consensus earnings estimate, which stands at $0.65 per share.DJ30 +91.75 NASDAQ +39.50 SP500 +14.33 NASDAQ Adv/Vol/Dec 1956/820 mln/529 NYSE Adv/Vol/Dec 2453/344 mln/439

11:00 am : The major indices continue to march higher. The Nasdaq Composite is leading the way, thanks largely to Oracle (ORCL 21.31, +1.44), which posted better-than-expected top and bottom line results for its latest quarter, and even issued an upbeat forecast.

Other large-cap tech stocks like Cisco (CSCO 18.95, +0.38), Intel (INTC 16.26, +0.45), and Apple (AAPL 136.94, +2.93) are also showing strength. The broad reaching gains by tech issues have the S&P 500's tech sector up 2.3% this session. Year-to-date, it is up 23%, more than any other major sector this year.DJ30 +98.17 NASDAQ +40.70 SP500 +15.11 NASDAQ Adv/Vol/Dec 1950/685 mln/478 NYSE Adv/Vol/Dec 2474/289 mln/389

10:30 am : Materials stocks continue to trade with strength. The sector is up 2.9% amid broad-based buying in the equity markets. Modestly higher commodities prices are also helping a bit.

The CRB Commodity Index is currently up 0.2% as gold prices spike 1.2% to $935.40 per ounce. Silver is up 1.3% to $14.03 per ounce.

Energy-based commodities are faltering, though. Natural gas prices are down 3.1% to $3.76 per contract, while oil prices have slid 0.8% to $68.70 per barrel in the wake of the latest weekly oil inventory data.

According to the data, a draw of 3.87 million barrels took place last week. The consensus called for a much smaller draw, but a larger-than-expected build in gasoline inventories has overshadowed the crude data.DJ30 +86.61 NASDAQ +35.80 SP500 +12.57 NASDAQ Adv/Vol/Dec 1918/517 mln/467 NYSE Adv/Vol/Dec 2470/223 mln/359

10:05 am : Stocks recently made a modest pullback after extending opening gains. The initial move took the S&P 500 back above the 900 level.

According to the latest data, new home sales during May hit an annualized rate of 342,000 units, below the 360,000 unit consensus. Given the revisions to the prior month, new home sales were down 0.6% month-over-month. They were expected to increase 2.3%.

The data caused a bit of a knee-jerk reaction, which caused participants to push back against the stock market's advance. Stocks have since recovered, though.DJ30 +57.66 NASDAQ +24.95 SP500 +8.61 NASDAQ Adv/Vol/Dec 1748/298 mln/515 NYSE Adv/Vol/Dec 2305/142 mln/443

09:45 am : Stocks are making headway in the first few minutes of trading. The early ascent has been broad-based with nine of the 10 major sectors in the S&P 500 sporting gains; only health care (-0.1%) is in the red.

Materials stocks are seeing the strongest interest. The sector is currently up 1.9% as commodities and basic materials prices show strength.

Though the dollar is up slighly, the CRB Commodity Index has mustered an early gain of 0.3%. Crude oil prices are down 0.8% to $68.70 per barrel, however. Crude inventory data is due later this morning (10:30 AM ET).DJ30 +50.18 NASDAQ +21.44 SP500 +6.53 NASDAQ Adv/Vol/Dec 1655/157 mln/509 NYSE Adv/Vol/Dec 2170/92 mln/462

09:15 am : S&P futures vs fair value: +6.70. Nasdaq futures vs fair value: +10.80. Solid gains in overseas markets, a better-than-expected earnings report and forecast from Oracle (ORCL), and a surprise increase in durable goods orders for May have bolstered a positive bias in premarket trading. Some reports suggest that an upwardly revised view of the world economy from the OECD has lent support, too. Despite the positive tone ahead of the opening bell, action could be a bit tempered ahead of the new home sales report (10:00 AM ET) and the FOMC's latest policy statement (2:15 PM ET). The FOMC is expected to leave the federal funds target rate unchanged at 0.00% to 0.25%, so most focus will be centered on the policy directive.

09:00 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +11.50. Overseas markets are showing strength as advancers outnumber declining issues by 2-to-1 in Germany's DAX, which is up 1.4%. Deutsche Bank (DB) is a leader in the pack after being upgraded by analysts at Citigroup. In France, the CAC is up 1.3% as financial outfits BNP Paribas and Axa (AXA) lead the advance. Britain's FTSE is up 0.6% with financial companies Barclays (BCS) and Standard Charter and metals giants Rio Tinto (RTP) Anglo American (AAUK) leading the way. Anglo just rejected a merger approach from Xstrata yesterday. In Asia, the MSCI Asia-Pacific Index closed 1.2% higher, while Japan's Nikkei added 0.4%. Declining issues were balanced evenly with advancers in the Nikkei. Fanuc was a primary leader, while Fast Retailing was a primary laggard. Japan's exports slumped for the eighth consecutive month in May. The data may threaten to dampen hopes for a quick recovery, but it was unable to completely undercut the session's advance. In Hong Kong, the Hang Seng advanced 2.0% as advancing issues outnumbered decliners 3-to-1. Steel stocks outperformed amid reports that Asia's biggest iron ore deposit was discovered. In mainland China, the Shanghai Composite advanced 1.0% higher to reach a one-year closing high.

08:30 am : S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +10.00. Stock futures have improved following the latest batch of economic data. Durable goods orders for May increased 1.8%, which is far better than the 0.9% decline that was expected. Excluding transportation, durable goods orders increased 1.1%. Economists, on average, had expected a drop of 0.5%. Meanwhile, data for April was revised downward to show a 1.8% increase in total orders and a 0.4% increase in orders less transportation. Next on the day's economic calendar are new home sales data for May (10:00 AM ET).

08:05 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +4.80. There is a mildly positive tone to premarket trading. Oracle (ORCL) is providing support to Nasdaq futures after posting last evening adjusted earnings of $0.46 per share for its fourth fiscal quarter. The consensus estimate called for $0.44 per share. Oracle's top line came in at $6.86 billion, down 5% year-over-year, but above the consensus revenue forecast of $6.47 billion. During its conference call, Oracle stated that it expects earnings for its first fiscal quarter to range from $0.31 to $0.33 per share, which exceeds the current estimate of $0.30 per share. Shares of ORCL are up more than 3.5% to $20.58 per share ahead of the opening bell. Stock futures for the broader S&P 500 are also up ahead of the opening bell. Some reports suggest that the positive tone seen in premarket trading stems from an article in The Wall Street Journal that cites the OECD's claim that the global recession is close to bottoming out. The claim contrasts the World Bank's decision earlier this week to trim its forecast for the global economy. Participants will get the latest batch of economic data at the bottom of the hour, which is when durable goods orders data for May will be released. New home sales for May follow (10:00 AM ET). The FOMC will release its latest policy statement this afternoon (2:15 PM ET).

06:24 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +5.00.

06:24 am : Nikkei...9590.32...+40.70...+0.40%. Hang Seng...17892.15...+353.80...+2.00%.

06:24 am : FTSE...4239.97...+10.00...+0.20%. DAX...4745.30...+38.10...+0.80%.

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