Wall Street signSome positive economic data has stocks on a slight rebound today after getting pummeled in previous sessions. Housing starts inched up which is leading to guarded optimism that just maybe the long languishing housing market may start to recover.

Europe still remains the chief concern as Greece is hurtling towards new elections. Polls out of the country show the anti-bailout leftist party picking up steam while the pro-bailout parties are getting wrecked. Still a few weeks out but it looks like the Greek situation is coming to head sometime in June. And by the looks of it, the exit for Greece could be messy for the entire EU.

A current snapshot of the three major indices in the US has the Dow up 13, the Nasdaq 4 and the S&P 3. All three are well off their session highs. [Read more...]

Hot Stocks to Watch: CRAY, JAZZ, HUSA, ARNA, OWW, SWKS

NYSE StocksIt is a tug of war on the market today after Amazon and Ford beat expectations , but GDP numbers showed slowing growth. The conflicting data has the market whipsawing between modest gains and losses. Plus it is Friday which has everyone looking for the weekend so volume is lacking conviction in either direction.

Europe continues to be on the minds of investors after Spain earned a downgrade from S&P after the close yesterday. The concern there is that they may have issues servicing debt going forward, and may have to intervene further with their financial institutions.

Overall the markets seem to be tempering their unbridled optimism of the first quarter into something a bit more realistic and cautious. Currently the major 3 indices are posting modest gains. The Dow is up 17, the Nasdaq is up 6 and the S&P is up fractionally. The S&P 500 is shooting for a close over 1400. [Read more...]

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