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- Stocks Lurking Near New Highs Again
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- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
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CNBC Reporter
Stocks weakened midday, with three catalysts:
1) Rochdale analyst Dick Bove downgrades Wells Fargo [WFC
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] late in the day to a Sell but maintains the price target of $25. Bove talked earlier in the day that there was a serious erosion in the bank's loan quality in the third quarter. "It does not appear that the bank can sustain the third quarter's results. I would avoid the stock," Bove said. WFC down 4.5 percent.
2) crude rally over $80 is beginning to weigh on equities
3) Wal-Mart [WMT
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] announced hundreds of millions of dollars in price cuts for the holidays shortly after 2 PM ET; this is potentially going to kill prices (margins) in retail; retail stocks drop on the news. WMT down 2.3 percent.
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POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
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