Dow had a big rally at day's end, up 400 in the last hour taking it to a gain of 172 for the day. However decliners were ahead of advancers 2-1 & NAZ slipped 12. Hard to tell what's going on. Chevron (CVX) & Exxon (XOM) were each over 5 each while Boeing (BA) & 3M (MMM) rose about 3½ each.
S&P 500 FINANCIALS INDEX, the Alerian MLP index & Dow Jones REIT index were each down a couple. VIX also slipped 2, now one unit of VIX can buy a barrel of oil. Gold was up 1.66 to 68.41 while gold slipped 16 to 717.
Nearly 766K homes received a foreclosure-related notice in Q3, up 71% from last year. By yearend, more than 1MM properties will have piled up on the market, representing about 1/3 of all properties for sale in the U.S. This is key to the mess congress is holding hearings on now trying to figure out how to solve this enormous problem.
After the closed Microsoft (MSFT) reported good earnings.
EPS in their 1st qtr:
2008....48¢
Est...... 47¢
2007.... 45¢They forecasted $2.00-2.10 EPS, previous guidance was for EPS of $2.12 - 2.18 on higher sales than forecasted today. The stock was up 33¢ in after hours trading.
Blogger, my host, was playing hardball, down for what seemed like an eternity. They're finally back up again, really missed them.
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