Tuesday, April 07, 2009
Earning Jitters
Stocks saw declines Monday, but come well off their intraday lows. The Dow fell 41.74 points to a level of 7,975.85. The SPX lost 7.02 points to finish the session at 835.48. We are in the green and looking ok.
Not really much to comment on as the Banks saw pressure in their sector after noted analyst Mike Mayo started coverage on several banks with "Sell" or "Underperform" ratings.
Afer the bell tonight (Tuesday) will officially kick off earnings season when Alcoa (AA) reports its results. Traders will be more likely be focused on outlooks than on results from the first quarter. The fact that very few companies provided guidance for the quarter could create some volatility with each major report.
Until next time.
Not really much to comment on as the Banks saw pressure in their sector after noted analyst Mike Mayo started coverage on several banks with "Sell" or "Underperform" ratings.
Afer the bell tonight (Tuesday) will officially kick off earnings season when Alcoa (AA) reports its results. Traders will be more likely be focused on outlooks than on results from the first quarter. The fact that very few companies provided guidance for the quarter could create some volatility with each major report.
Until next time.
# posted by Paul @ 3:54 AM 
