chartSo why thank (WFC)? Simple. They were given a sell rating right before the close of the market and it was at this instant that the stock fell and took down the whole financial sector with it. Great job. Morgan Stanley was sky rocketing today and pulling up stocks like Bank of American and Citi until this ‘surprise’ sell rating came out. Why did it come out? Accelerated loan defaults. Boeing also announced today and like I expected, this stock got bad results, and posted negative outlook for its company. This is what happens when you don’t meet deadlines. As the stock pulls back, I will try to walk in on the hope of some positive on-time-delivery potential.

Here is the market closing summary for Wednesday:

Thursday Watches:
Indicators:
Continuing Claims - expected to rise
Leading Indicators – expected to rise in month of September
FHFA Housing Price Index – expected to remain flat in month of August

Earnings:
(T) ATT is reporting earnings, this is easy. With APPLE skyrocketing, the carrier is going to get some of the profits too. The expectation is $0.50/share. As much as I hate this company for personal reasons (cough crap DSL service), I would enjoy riding this tomorrow for gains.

Reporting after the markets close:
(AMZN) $0.33/share expected profit
(AXP) $0.36/share expected profit
(NFLX) $0.45/share expected profit.

I want to get into Amazon, but after following the lead of Wal-Marts price cuts on books, its going to be interesting to see what margins and the outlook turns out to be. Smaller margins on products will mean the need for higher volume turnover to maintain previous profit levels. This could be a challenge.

Netflix I will also watch to get in. This is a nice stock, great company and with the rate of new signups increasing, its killing all new potential players. Netflix has the ability to stream movies directly to your TV with newer TV sets and this is only going to make the company better positioned for the next tech transition.

Hope you all make some trades!

Happy Investing!

Aman, MBA

Related posts:

  1. Markets Fall At End of Trading Day on Jobless Number Fears
  2. Markets Fall Thanks to Surprise Drop in Housing Stats
  3. World Banks Predicts 2.9% Contraction and Markets Fall Monday