What Happened In The Market Today…9 Feb 09

What’s Happening In The Market Now..

  • Stocks moved down at the open this morning.
  • More disappointing earnings reports have dampened some of the enthusiasm over the government’s expected stimulus bill.
  • Investors are also awaiting a Tuesday speech by Treasury Secretary Timothy Geithner outlining the Obama administration’s plan to overhaul the government’s $700 billion financial bailout package passed by Congress last fall. Geithner had been scheduled to announce the plan today, but the White House pushed back the speech to focus on the stimulus bill.
  • According to Pimco’s Bill Gross mortgage rates are likely headed for 4.5%.
  • Sectors starting the day out strong include industrial conglomerates, life & health insurance, regional banks and oil & gas equipment & services while homebuilding, home entertainment software, housewares & specialties and household appliances are down.
  • Volume leaders include General Electric Co (GE), DryShips Inc (DRYS), JPMorgan Chase & Co (JPM), Pfizer Inc (PFE) and Intel Corp (INTC).

Stocks Most Watched Today
Baidu, Inc. (BIDU), NYSE Euronext, Inc. (NYX), Mosaic Co. (MOS), Daimler AG (DAI), Credit Suisse Group (CS), Transocean Ltd (RIG), Sohu com Inc (SOHU), Principal Financial Group Inc (PFG), Dryships Inc (DRYS), Kennametal Inc (KMT), Whirlpool Corp (WHR), Rio Tinto PLC (RTP), Nissan Motor Company Ltd (NSANY), Fortune Brands Inc (FO) and WR Berkley Corp (WRB)

Today’s News Leaders…
McDonalds Corp (MCD), Hasbro Inc (HAS), Whirlpool Corp (WHR), Nissan Motor Company Ltd (NSANY) and Amazon com (AMZN).

Analysts Favorites…
Intuit Inc (INTU), Research In Motion Ltd (RIMM), Potash Corp of Saskatchewan Inc (POT), Prudential Financial Inc (PRU) and KLA Tencor Corp (KLAC).

ETFs and HOLDRs Watched Today…
Technology Select Sector (XLK), Vanguard European ETF (VGK), iShares MSCI Eafe Index Fund (EFA), Vanguard Emerging Markets ETF (VWO) and iShares MSCI Brazil Index Fund (EWZ).

Tip of the Day…
Remember there are loads of things you need to consider when looking at retirement needs. Factors to keep in mind include housing costs, the length of retirement, will you continue to work, retirement lifestyle, health care and insurance costs and the rate of inflation. Does your plan considered them all?

Source: MarketIntelligenceCenter.com