Here are my morning observations: 1) Techs come through: after the disappointment of yesterday, when many regional banks hit new lows, the news flow is far more positive. We said last week techs had to make some positive noises to justify their recent runups: Yahoo, Intel, and Seagate all were better than expected.
Wall Street will try to shake off its housing induced malaise on Wednesday, with the help of some good earnings news from the tech world. But key inflation and housing data and another batch of major earnings before the bell will be play a big role in deciding the course for stocks.
Stocks fell after Fed Chairman Ben Bernanke said the housing slump is likely act as a drag on to U.S. economic growth, sparking investor concerns. "It was just last month Bernanke was saying things were contained, but now he's saying housing troubles can spread," said Brian Hicks, president of Wealth Daily. "This-flip flop in the last month has really spooked the markets."
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.
By the end of the coming week, the corporate earnings picture will be clear and it may not necessarily be one the stock market likes.
TiVo is introducing music to its mix of entertainment services, offering owners of the company's digital video recorders access through their TVs to the Rhapsody music service.
Is there no end in sight for Google and its shares? Last week when the company was oh-so-close to $600, I wrote that price targets would be on the move now that the company was teasing investors with yet another key milestone on its journey to the stratosphere, and sure enough, Bear Stearns revised its 52-week target to $700 just two days later.
U.S. Web giant Yahoo will subscribe for 10% of the shares to be sold by China's largest e-commerce company, Alibaba.com, according to a term sheet, in an initial public offering that is expected to raise roughly $1 billion.
U.S. Web giant Yahoo will subscribe for 10% of the shares to be sold by China's largest e-commerce company, Alibaba.com, according to a term sheet, in an initial public offering that is expected to raise roughly $1 billion.
The recent rush by major Internet portals to buy advertising companies and extend their sales networks is a sign that the business of being a one-stop shop for information and entertainment isn't what it used to be.