- Oversold Market Helps Move Stocks Up (Alcoa Looks Good)
- Market Leaders--Energy, Materials--Being Sold
- Financials Are Market Focus--Again
- Markets "Resolve" Nothing
- Market's Troubles: Commodites, Freddie And Fannie
- Alcoa Will Likely Set The Tone For Quarter
- The Bull And Bear Arguments
- The Big Issue For Stocks: Selloff In Materials
- Why Stocks Were Lower
- Sell Into Rallies Still Rules Street
- Lightning Round: Energy, Big Media and Farm Equipment
- Financial Collapse: Banks Going Quietly Into the Night?
- Cramer: Fashionably Healthy
- Tuesday's Web Extra
- Fast & Furious: Oil, Nascar, Ruby Tuesday...
- Fast Message - We Answer Your Questions
- Best Of Breed: King Of Your Castle
- Pops & Drops: RIMM, Office Depot...
- The Real Green Trades
- Markets Recover; Miners Up After Alcoa Earns
- WPP Makes Hostile $2.1 Billion TNS Takeover Bid
- Macau's SJM Delays IPO Debut Amid Legal Challenge
- European Shares Set to Join Global Bounce
- South Korea to Ease FX Borrowing in Fresh Flip-Flop
- Australia Consumer Confidence Hits 16-Year Low
- LG Display Slides Ahead of Earnings, Outlook Dims
- Japan Machinery Orders Stronger than Expected
- Australia's IAG to Scale Back UK Operations
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The market is grappling with a series of macro and individual stock problems today.
--Oil at new highs is the main problem, but the slow drop in the dollar (at the lows for the month, and reversing much of the gains from its bottom in April) is a particular aggravating factor;
--Core PPI higher than expected has the inflation hawks out;
--Cautious retail commentary two days in a row.
The retail issues are not surprising; we heard Lowe's [LOW
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] talking cautiously yesterday, now Home Depot [HD
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] is guiding toward the low end of its previous guidance. The Saks [SKS
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] CEO got a chuckle on trading desks this morning by saying that the consumer is acting as if there's a recession, whether there is one or not.
Bottom line: the retail turnaround is less certain, and further out.
Financials are also weak today:
--Fannie Mae [FNM
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] officials, speaking at their annual meeting, saying home prices could fall as much as 25% from their highs, and even though they are short-term winners int he housing bill they are clearly taking on more risks;
--AIG [AIG
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] hitting 10 year lows as executives there say they are looking to shed non-core assets;
--Oppenheimer's Meredith Whitney again trash-talking financials, saying the credit crisis will extend into 2009,
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