Markets Continue Their Trend of the Gap and Fade, WDAY, AEGR, LXRX, OSG

Consumer sentiment and earnings beats were not enough to keep the major indices in the green. Tech giants like Apple continued to languish after hitting all-time highs just days ago. This is in advance of what many predict will be the launch of the iPad mini.

The lackluster performance in October so far has mostly been attributed to stocks taking a breather after the near constant hype and buildup around QE3. A more pessimistic read could be institutional investors along with retail are positioning themselves ahead of the election and the outcome of the negotiations regarding the impending fiscal cliff facing the United States.

Europe also remains an outstanding issue with no real resolution in sight. China’s data deluge also begins in earnest over the weekend, so investors want to see how much the growth engine of the country is cooling off.

Sure, so far earnings season has seen a fair share of beats, but with the expectations bar being so low, are those beats really beats in the traditional market sense? Economic data points continue to muddle the picture.One month you have a stellar jobs report, then the next it slips back. Housing continues to languish and consumers, while more upbeat, are not exactly rushing to stores or to their local realtors.

The market has turned into a game of wait and see as events unfold over the coming months. [Read more...]

Hot Stocks to Watch: SUPN, SCMF, ROSG, ANTH, APOL, LXRX

Wall Street signStocks are trading mixed this morning as consumer confidence dips. A reading measuring consumer expectations dipped for the fourth straight month and has hit its lowest point since November.

The housing market saw another piece of good news with the S&P/Case Shiller home price index indicating that April was the third month in a row that home prices increased. Sign Up For Free Stock Alerts

Europe continues to be a concern as Cyprus joins the bandwagon for countries needing a bailout. Investors will also be keeping a close eye on the situation between Turkey and Syria after Syria downed a Turkish military jet.

A quick look at the markets shows the Dow down 15 points, the Nasdaq up 6 points and the S&P 500 up 1 point. [Read more...]

Existing Home Sales Unexpectedly Fell Last Month, NASDAQ Stocks to Watch

NASDAQ Screen at Times SquareThe stock market starting the morning in the green, but are starting to waver after existing home sales fell in February. Existing home sales fell nearly 1% last month to an annual rate of 4.59 million units after seeing a 5.7% gain in January. Economists were expecting sales to jump to a 4.62 million-unit sales pace.

Ben Bernanke is also testifying before the House Oversight Committee right now about Europe’s debt crisis. Bernanke reiterated that the Fed will intervene if conditions worsened.

A quick look at the market show the Dow down 11 points, the Nasdaq up 1 point and the S&P 500 down 1 point. [Read more...]

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