Fourth Straight Day Market Rallies
filed in My Investments on Jul.16, 2009
The DOW surged 92 point for another positive end on the markets after JP Morgan Chase (JPM) beat expectations. Google (GOOG) also came out tonight with their results which easily surpassed expectations but it was interesting to note that slowing ad sales by Google could potentially hurt further gains. Google did mention that YouTube service would soon become a profitable arm in their portfolio and there is hope that this will be a viable revenue stream for income. Jobless claims as I hoped last night, were better than expected.Another no big surprise was (IBM) which beat their earnings.
Here is the market summary for Thursday:
Friday:
Earnings worth watching are before the bell with Bank of America (BAC) and Citigroup (C) which could provide direction in the stock.
Economic Indicators will be focusing on the building permits and housing starts which could further show if there is improvement in the economy. If the news is good, its good to watch construction, housing and renovation stocks.
News:
Retailers Say CIT Failure Would Cripple Business. (CIT)
Dish, 46 states settle deceptive practices charges (DISH).
Harley-Davidson deepens cuts as 2Q profit tumbles.
Nokia (NOK) posts 66% drop in second-quarter profit. Sony Ericsson swings to a loss as sales plunge 40%.
Happy Investing!
Aman, MBA
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