Stocks Rally on Spain Optimism and Earnings Reports, Stocks to Watch: INVE, PRXI, APPY, AUO, FOSL, DPZ

The major stock averages are posting big gains in morning trading as earnings season is in full swing. Two of biggest tech companies, IBM and Intel, are expected to announce their earnings after the closing bell today. There was also a couple of economic data reports today. Homebuilder sentiment touched a six-year high, but the upward momentum has slowed according to the National Association of Home Builders. Consumer prices rose 0.6% in September, meeting analysts’ predictions. Industrial output also went up in September to 0.4%, with analysts expecting an increase to 0.2%.

Reports from Europe continue to hint that Spain is preparing to request a bailout package. We’ve been hearing about Spain requesting a bailout for months now so I wouldn’t hold your breath for that piece of news.

The Dow is currently up 107 points, the Nasdaq is up 17 points and the S&P 500 is up 10 points. [Read more...]

Hot Stocks to Watch in Early Trading: NOIZ, ZAZA, INMD, ZLCS, KGJI, ANTH, AUO

Wall StreetWell that was quick. After futures were pointing higher for much of the morning, the market opened up and immediately went south. Most of this was due to the realization that the Spanish bank bailout, while buying time, had an unintended consequence. See when you offer a bailout without preset conditions, the previous bailout recipients with conditions cry foul. Enter Greece stage right. With elections fast approaching, the anti-bailout parties seized on this and are having a field day.

Domestically we have national Apple Day, also known as their developer’s conference. Nothing huge is expected out of it hardware wise. Expect the unveiling of iOS 6 and a refresh of the macbook lines. The next iPhone will probably be unveiled this fall due due to the recent launch of the iPhone 4S. Sign Up For Free Stock Alerts

A quick look at the major indices has the Dow down 43, the Nasdaq off 8 and the S&P down 4. [Read more...]

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