Stocks were undecided following the recent run-up. After Dow's recent gain of over 660, Dow & S&P 500 settled back to about break even, advancers ahead of decliners by 1.4 to 1 while NAZ was up 14. Time for a breather. 3 Dow stocks reported earnings. Boeing (BA) was down 3 after reporting lower Q2 earnings from an accounting change. McDonalds (MCD), down 38¢, & ATT (T), up 19¢, after they reported pretty good numbers. MCD said same store sales were up:
US--------up 3.4%
Europe---up 7.4%
Asia-------up 8.8%
ATT had good growth in its wireless business. Sorry, forgot about Pfizer (PFE), another Dow stock, reported excellent earnings, stock up 47¢. PFE had higher sales from Lipitor (top selling drug that has only 3 years remaining under patent). However, all corp sales gains came from overseas while US sales declined 2%.
Oil was down 1.80 to the 126s on easing fears about the Dolly storm & worries that weekly inventory figures released late today will post an increase.
Congress will pass a housing bill which will not be opposed by the pres. It is designed to help home owners get cheaper loans &, of course, help Fannie Mae (FNM) & Freddie Mac (FRE) with money, each up 15%.
1 comment:
Hello, I'm looking to build more backlinks to my blogs so if you'd like to exhange links let me know.
http://the-gold-market.blogspot.com
Leave me a comment if you're interested. Thanks!
Post a Comment