What’s Happening In The Market Now…
- The markets opened the day mixed as earnings reports continue to paint a mixed picture.
- States Steel Corp. (X) and American Express Co. (AXP) managed to post profits while DuPont (DD) said it swung to a fourth quarter loss and Yahoo (YHOO) fourth-quarter earnings are expected to be down.
- The Standard & Poor’s/Case-Shiller 20-city housing index tumbled by a record 18.2 percent from November 2007, the largest decline since its inception in 2000. The 10-city index dropped 19.1 percent, tied with October for the biggest drop in its 21-year history.
- Sectors starting the day out strong include coal & consumable fuel, industrial REITs and consumer finance while integrated telecom, office services & supplies and oil & gas refiners are down.
- Volume leaders include Microsoft Corp (MSFT), JP Morgan Chase and Co (JPM), Sprint Nextel Corporation (S), Dow Chemical Co (DOW) and Caterpillar Inc (CAT).
Stocks Most Watched Today
Corning Inc. (GLW), First Solar, Inc. (FSLR), Peabody Energy Corp. (BTU), Valero Energy Corp. (VLO), New York Community Bancorp Inc. (NYB), CV Therapeutics Inc (CVTX), US Steel Corp (X), Bristol Myers Squibb Co (BMY), Steel Dynamics Inc (STLD), Reliance Steel and Aluminum Co (RS), Vimpel Communications (VIP), Verizon Communications Inc (VZ), Central Fund of Canada Ltd (CEF), Amgen Inc (AMGN) and Whiting Petroleum Corp (WLL).
Today’s News Leaders…
CV Therapeutics Inc (CVTX), Corning Inc (GLW), Verizon Communications Inc (VZ), US Steel Corp (X) and Peabody Energy Corporation (BTU) top the lists of companies with news today.
Oracle Corp (ORCL), DirectTV Group Inc (DTV), Prudential Financial Inc (PRU), Kohls Corporation (KSS) and Sanofi Aventis (SNY).
ETFs and HOLDRs Covered Today…
SPDR Gold Trust (GLD), iShares DJ US Real Estate Index Fund (IYR), ProShares Ultra Oil and Gas (DIG), Market Vectors Steel Index Fund (SLX) and iShares S&P MidCap 400 Index Fund (IJH).
Tip of the Day…
Try to build Flexibility into your portfolio. Set aside a small portion (about 5%) of your portfolio to take advantage of special situations and opportunities that might pop up. This is not for speculation, it’s for things like buying that stock you have had your eye on when it bottoms out so you can ride it all the way back up.