Weekly Stock Market Review Letter, 9 February 2009
The Week Ahead: Unemployment reached its biggest monthly decline in 35 years with nearly 600,000 jobs lost accelerating plans for economic stimulus via TARP II by the new administration. Look for testimony to Congress from both Ben Bernanke and Timothy Geithner on Tuesday regarding the financial crisis. By Thursday new weekly jobless claims numbers come out along with the retail sales and business inventory figures.
Stocks to Watch: Aon Corp. (AOC), an insurance brokerage, surged after beating estimates for Q4 business, but revenues did decline by 4% in a cautious environment. Pitney Bowes (PBI) saw Q4 earnings beat expectations by .03 showing that the manufacture of mail processing equipment can be resilient in a slow economy. Skechers USA (SKX) warned of a coming Q4 loss as analysts worry about inventory build-up of the company's footwear products. Mettler Toledo (MTD) which makes scales came in light on Q4 results and reached a new 52 week low.
Special Note: Similar to the circumstances that surrounded the first Economic Stimulus Plan last September, the current plan again is being rushed through under the supposed threat of catastrophe if the plan fails to pass even though the DOW fell over 3000 points anyway in the aftermath of the first plan and the banking crises intensified. Once again the new plan's focus is on getting people to spend not save as if encouraging more debt will solve the problem.
Commentary Provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
Stocks to Watch: Aon Corp. (AOC), an insurance brokerage, surged after beating estimates for Q4 business, but revenues did decline by 4% in a cautious environment. Pitney Bowes (PBI) saw Q4 earnings beat expectations by .03 showing that the manufacture of mail processing equipment can be resilient in a slow economy. Skechers USA (SKX) warned of a coming Q4 loss as analysts worry about inventory build-up of the company's footwear products. Mettler Toledo (MTD) which makes scales came in light on Q4 results and reached a new 52 week low.
Special Note: Similar to the circumstances that surrounded the first Economic Stimulus Plan last September, the current plan again is being rushed through under the supposed threat of catastrophe if the plan fails to pass even though the DOW fell over 3000 points anyway in the aftermath of the first plan and the banking crises intensified. Once again the new plan's focus is on getting people to spend not save as if encouraging more debt will solve the problem.
Commentary Provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
posted by Daniel Pipitone at
6:22 AM
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