chartTuesday was yet another positive day on the markets. What looked to be a pull back on the previous gains, the rally further ensued after the fears of (CIT) bankruptcy was finally absorbed. (CIT) was a positive mover on the markets on Monday but the pull back today was due to the idea that a bankruptcy is still on the table. Better than expected results from companies including Caterpillar Inc. (CAT) pulled shares generally higher, although financial shares slid on reports of losses at several regional banks.

I did not trade on Tuesday mainly due the being too busy and unable to reach a computer long enough to analyze some opportunity.

Here is the market summary for Tuesday:

Earnings Reports Worth Watching This Week:
Bancorp South (BXS)
VF Corp (VFC)
UPS (UPS)
McDonald’s (MCD)
Pfizer (PFE)
Lockheed Martin (AMP)
Ameriprise Financial (LMT)

Economic Indicator for Wednesday:
Crude Inventories

News:
Apple Profit, Sales Beat Third-Quarter Estimates (AAPL).

Starbucks set to bounce back after slow sales. US coffee chain returns to the black with a profit of $151m, compared with a $6.7m loss last year. (SBUX)

Shares of CIT Group Inc. slumped 22% on Tuesday after the company warned that it may have to file for bankruptcy if a planned tender offer for debt maturing on Aug. 17 doesn’t get enough support and it can’t arrange alternative financing. (CIT)

Happy Investing!

Aman, MBA

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