Plummeting, s p plumbing 2 . Nasdaq nosediveing 9 . I mince for the words about buying opportunities in the show. I like to buy discounted merchandise. Today is no different. Whenever my charitable has cash, we have oodles right now. We are looking for something to buy, something weve waited for, something we can circle back to or maybe average down into. The problem is with the down day in the file, these buying opportunities are hard to find. Heres what i want to do. I want to give you the checklist of how frustrating it is as a Portfolio Manager to find at the very people a stock thats not too risky, especially if the selloff isnt done and there are certainly plenty of geopolitical reasons to think it isnt over. None the least of which we are down from the highs despite the craziness happening around the world. First, i want to buy something thats down, really down i want prices slashed. Not just a couple of points from the high. That, okay, makes me look immediately at the industri
Earnings related. The s p 500, a bigger, broader index 500 stocks other than the 30 that are comprised of the dow. S p 500 virtually flat which shows you this push and pull action we have seen mimicking that if last week, the whole week we barely saw a move despite the fact you had 100point swings. Today at a 200point swing. The dow down 83 points. In the meantime, lot of the analysts talking about higher prices by the end of the year, higher target for the industry. As i mentioned earnings, verizon, travelers, Johnson Johnson, three names with earnings all on the dow. Nine negative dow points, Johnson Johnson 12 negative dow points. Back to you. Lori thank you, nicole. It is an anticipated week on wall street as the tech giants reveal their fourthquarter earnings. Sandra smith has the stocks to watch. Sandra where watching ibm, texas instruments. Ebay tomorrow. Microsoft later in the week. Apple, yahoo, facebook, google next week. Right now Technology Names making up about 18 of the w
Better. Some red arrows in europe as Indias Parliament continues to fight about berlusconi. Our road maam begins with the s p, looking to claw back some ground after yesterdays closing at the low, below 1,700, the longest streak of the year. Jcpenney had been pointing down sharply again on continuing concerns on whether they need to raise capital and just how much. But the stock looking up after the Company Comes out with a release saying, hey, were still seeing progress here on our turn around. Well have the entire story in a moment. 11 billion is what jpmorgan could end up paying to tie up security probes. And jcpenney did fall below 9, getting close to an historic intra day low. The company has a statement out saying theyre pleased with their progress thus far in their turnaround, starting to see greater predictability in its performance across many areas, improved by its purchase conversion, which has been a longtime Sticking Point and anticipates will experience positive comps com
Go irish. Good monday morning. The band is back together. Awfully nice to have david back. Im back. We have jim cramer, and david fabe, as they say in france. The single best week for stocks in over a year last week. Europe has lost a little ground this morning despite Investor Confidence numbers coming in at an 18month high. The s p starts the week at fiveyear highs. Even as the lines are drawn in the battle over spending cuts and the debt ceiling. And then there is earning season. Kicks off tomorrow with alcoa. Banks in the spotlight this morning, bank of america settling with fannie mae with mortgages it underwrote during the housing boom. Citi submitting to the feds. Revising up, gdp forecast to 81, saying investing in the mass market stocks is the way to go. Potential cuts at the Magic Kingdom reports disneys got internal costcutting review under way. The question of the day, can the new year rally continue. Last week the s p jumped 4. 6 to a new fiveyear high. Not only is wall st
Checked. Lets take a look and see if that still holds. Yes, it does. Not significant declines but declines nonetheless across the board. As for asia and japan, japanese gdp it did pressure the nikkei there to the tune of 4. 7 . The Chinese Government offering financial stimulus to towns to maintain economic growth. Signs of life there in the chinese economy. Lets get to our road map this morning. That does start with the s p. Which is sitting just under the key technical level of 1700 but setting up to expend a multiday losing streak. Blackberry replies all, says its open to exploring Strategic Alternatives. Jcpenney mulling action against bill akman for turning deliberations into a public discourse. And we have a date. Apples new iphone will be unveiled on september 10th. Were coming off a week in which the dow industrials broke a sixweek winning streak. This morning as we saw futures lower on that news out of japan where Second Quarter gdp rose 2. 6 , thats well below economic foreca