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Stocks ticked higher Wednesday as consumer stocks rebounded after a tame inflation reading but banks still dragged after credit downgrade. FedEx skidded after it issued a weak outlook.
Regulatory reform: little consensus on how much -or what kind- is needed. As the President unveils his financial regulatory reform proposal, Standard and Poors chose this morning to bluntly state that this was one of the reasons they lowered their ratings and outlook on 22 banks this morning:
The emerging markets of Brazil and China have led the global stock markets this year, but now options traders are looking for a pullback.
David Hefty, principal of Cornerstone Wealth Management and Gary Hager, president and founder of Integrated Wealth Management share their investment advice and the best place for viewers to put their money.
We are now entering the "let's get real" phase of the commodity runup. Recall that commodities and commodity stocks have outperformed the overall markets since March on 1) the weak dollar, and 2) strong buying of commodities by China, which prompted momentum buying from speculators.
Stocks turned mixed Wednesday as investors digested a tame inflation reading against a weak outlook from FedEx. Banks dragged after a credit downgrade.
Investors should wait and be cautious before they jump into the markets—we still have a lot of headwind against us, said Dave Rovelli, managing director at Canaccord Adams.
Stocks opened flat on Wednesday as investors weighed a tame inflation reading against a drop in mortgage applications and weaker-than-expected outlook from FedEx. Consumer prices rose just 0.1 percent in May, despite the rise in gasoline prices, after a flat reading in April. Read and listen to what the experts had to say…
"I think this is probably the March rally beginning to roll over, the question is how much of a correction does it turn into," Cashin told CNBC. "There's going to be a lot of jockeying around in the next few days."
The most sweeping overhaul of financial markets regulation since the Great Depression is unlikely to cause much of a ripple in an already edgy stock market, traders say.
FedEx's earnings weigh on futures. Federal Express, considered a bellweather for the economy, caused a 6-point drop in stock futures pre-open. Guidance of $0.30-$0.45 for the current (first) quarter is well below expectations of $0.68 due to the runup in jet fuel prices and an "extremely difficult" operating environment.
Futures pared their losses Wednesday after a tame inflation reading. Futures had started off the day on negative footing after FedEx delivered a lower-than-expected outlook and a report showed mortgage applications plunged last week. FedEx said its earnings outlook was lower than Wall Street anticipated.
Whole Foods has dropped more than 13 percent in the last week, but that isn't stopping traders from stepping in to buy upside options.
The S&P 500, yen and oil have higher to go, according to Chris Locke, MD of Oystertrade.com Management, said Wednesday.
Global stocks were down Wednesday. Despite this the dollar fell against the euro and the yen, but experts told CNBC the greenback is still seen as a safe haven from falling stocks. They also said that holding cash is the right thing to do during the stock market correction.
Apple's third-generation iPhone launches on Friday, but better-than-expected pre-orders could mean a bump in earnings as early as this quarter. Daniel Ernst, principal analyst of Hudson Square Research, shared his insight for the future of the smart phone market.
Stocks ended lower for a second straight session in light volume as the glow from housing starts faded and banks skidded.
The U.S. dollar has no concerns right now, said Ron Shah of Jina Ventures. The main concern for the U.S. needs to be bilateral trade agreements between the BRIC (Brazil, Russia, India, China) countries.
Happy 225th birthday Bank of New York Mellon! For a company that’s managed to survive the financial fallout, it looks like the bank is on firm footing. When CEO Bob Kelly spoke to Maria on the “Closing Bell” he told her the company is past the point where they need TARP. In fact, Kelly said the company ‘is willing and able to repay TARP as soon as the government allows.’
Options traders apparently think that Western Digital is headed lower. OptionMonster's tracking systems detected heavy activity in the July 22.50 puts, which changed hands for $0.60 to $0.90 Tuesday morning.