Wall StreetTo say Wall Street was disappointed with the jobs report would be an understatement. With the holiday weekend. Out of the gates the major indices plummeted to their session lows. While they have since stabilized, the indices are still painted deep in the red.

Two items investors can look forward to that may stick save the rally. One is a speech tonight by Ben Bernanke. His thoughts on the labor markets bore out so it may push them to act on QE3 on a quicker timetable.

The other is earnings season is fast approaching. Now depending on results, it could be a boon to the bulls or give turn the the market over to the bears. Alcoa is set to release on Tuesday so all eyes will there to see if the recovery is still happening or if a setback is looming.

The Dow is currently down 141, the Nasdaq 32 and the S&P 17. [Read more...]

Hot Stocks to Watch: NFEC, CREG, VALV, HIMX, LLEN, WOLF

Wall Street signStocks are reversing earlier losses as jobless claims came in line with expectations. The levels have dropped to a four year low and it looks like the labor market continues to strengthen. The question now becomes one of sustainability. Are the pieces in place for job growth to continue on into summer? The remains to be seen and the underlying numbers in the reports coupled with the constant upward revisions each week so there can be a ‘drop’ muddy the picture.

The other outlier is Europe. That multi-year soap opera refuses to end. Luckily we don’t have to talk about Greece ad nauseum this time. Spain is now the chief concern with bond yields above the pre-LTRO levels. Europe’s seeming inability to come up with a concrete solution could play havoc on the markets in the coming months. Domestically, it seems investors want to shrug off EU concerns but eventually it will have to be dealt with.

Currently the major indices are turning higher with the the Dow gaining 11, the Nasdaq 12 and the S&P 3. [Read more...]

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