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The Bulls Just Keep on Coming

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Today's financial recap and tomorrow's financial outlook.

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Stocks rallied today on a piece of positive economic data and optimism out of China.

The February ISM Non-Manufacturing Index came in at 56.0, beating the 55.0 consensus.

And over in the Far East, the Chinese government reiterated its GDP growth target of 7.5% for the year. This drove a rally in Chinese stocks, which have been serious underperformers year-to-date relative to the S&P 500 (INDEXSP:.INX).

Over on the earnings front, we saw better-than-expected results from Scotiabank (NYSE:BNS) and H&E Equipment Services (NASDAQ:HEES).

Elsewhere in stocks, Qualcomm (NASDAQ:QCOM) rose after announcing a 40% increase in its quarterly dividend and a new share repurchase program, while Dell (NASDAQ:DELL) inched up after its largest shareholder attacked the company's board over the price that was accepted for its takeover.

Apple (NASDAQ:AAPL) also popped a bit, rising more than 2% to drive a solid day for the Nasdaq (INDEXNASDAQ:.IXIC).

We also saw positive action in commodities, with oil, gold, and copper all trading higher.

Tomorrow's Financial Outlook

On Wednesday, we'll see a host of economic data, including the MBA Mortgage Index and the ADP employment report, the latter of which may provide a hint to what we'll see in Friday's Nonfarm Payrolls report. Additionally, we'll see Factory Orders, Crude Inventories, and the Fed's Beige Book.

In earnings, we'll see numbers from American Eagle Outfitters (NYSE:AEO), Big Lots (NYSE:BIG), and Staples (NASDAQ:SPLS) before the open, and Delek US Holdings (NYSE:DK) and PetSmart (NASDAQ:PETM) after the close.

Twitter: @Minyanville

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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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